Republic Services (NYSE: RSG) reported Q1 EPS of $0.73, $0.01 better than the analyst estimate of $0.72. Revenue for the quarter came in at $2.47 billion versus the consensus estimate of $2.5 billion.

"We are very pleased with our first quarter results, which included solid earnings and free cash flow, an $86 million investment in acquisitions and $233 million returned to shareholders through dividends and share repurchases," said Donald W. Slager, president and chief executive officer. "Given the strength of our solid waste business and the collective efforts of the Republic Services team, we are reaffirming our 2019 adjusted EPS and free cash flow guidance, despite a continued decline in recycled commodity prices."

First-Quarter Highlights:

• EPS was $0.72 per share. Adjusted EPS, a non-GAAP measure, was $0.73 per share and included a 1-cent headwind due to the timing of tax-related expenses, relative to the Company's guidance.
• Cash provided by operating activities was $554 million and adjusted free cash flow, a non-GAAP measure, was $349 million.
• Total cash returned to shareholders through dividends and share repurchases was $233 million.
• Total revenue increased 1.8 percent over the prior year.
• Core price increased revenue by 4.7 percent. Core price consisted of 5.7 percent in the open market and 3.2 percent in the restricted portion of the business.
• Revenue growth from average yield was 2.9 percent, the Company\'s highest level of average yield in nearly 10 years.
• Customer defection remained below 7 percent for the fifth quarter in a row.
• Adjusted EBITDA, a non-GAAP measure, was $699 million. Adjusted EBITDA margin was 28.3 percent of revenue and in line with the Company's full-year margin guidance of 28.3 to 28.5 percent of revenue.
• SG&A expense as a percentage of revenue was 10.8 percent, consistent with the prior year.
• The Company invested $86 million in acquisitions during the quarter ended March 31, 2019. In April, the Company has invested an additional $56 million and now expects the full year investment in acquisitions to total approximately $300 million.
• Republic continued to convert CPI-based contracts to more favorable pricing mechanisms for the annual price adjustment. The Company now has approximately $685 million in annual revenue tied to either a waste-related index or a fixed-rate increase of 3 percent or greater.
• The Company was named to the World's Most Ethical Companies List by the Ethisphere Institute for the third consecutive year.
• Barron\'s recognized Republic on the 100 Most Sustainable U.S. Companies list for the second consecutive year.

For earnings history and earnings-related data on Republic Services (RSG) click here.