Item 2.02 Results of Operations and Financial Condition.
On May 5, 2021, Republic Services, Inc. (the Company) issued a press release
containing information about the Company's financial results for the three
months ended March 31, 2021. A copy of this press release is furnished as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by
reference.
Raised Full-Year 2021 Adjusted Earnings Per Share and Adjusted Free Cash Flow
Guidance
Our guidance is based on current economic conditions and assumes continued
gradual improvement in economic activity through the remainder of 2021.
The Company raised its full-year diluted earnings per share guidance and expects
to be in a range of $3.65 to $3.69 and adjusted diluted earnings per share is
expected to be in a range of $3.74 to $3.79. Adjusted diluted earnings per share
excludes the impact of restructuring charges and accelerated vesting of
compensation expense for the transition of our chief executive officer.
We believe that the presentation of adjusted diluted earnings per share provides
an understanding of operational activities before the financial impact of
certain items. We use this measure, and believe investors will find it helpful,
in understanding the ongoing performance of our operations separate from items
that have a disproportionate impact on our results for a particular period. We
have incurred comparable charges, costs and recoveries in prior periods, and
similar types of adjustments can reasonably be expected to be recorded in future
periods. Our definition of adjusted diluted earnings per share may not be
comparable to similarly titled measures presented by other companies.
The Company raised its full-year cash provided by operating activities guidance
and expects to be in a range of $2,500 million to $2,595 million. Adjusted free
cash flow for 2021 is expected to be in a range of $1,350 million to $1,400
million. Adjusted free cash flow consists of cash provided by operating
activities, less property and equipment received, which is expected to be in a
range of $1,175 million to $1,225 million, plus proceeds from the sale of
property and equipment of $15 million and is exclusive of cash paid for
restructuring activities of between $10 million to $15 million, net of tax.
We believe that presenting adjusted free cash flow guidance provides useful
information regarding our recurring cash provided by operating activities after
certain expenditures or recoveries. It also demonstrates our ability to execute
our financial strategy and is a key metric we use to determine compensation. The
presentation of adjusted free cash flow has material limitations. Adjusted free
cash flow does not represent our cash flow available for discretionary
expenditures because it excludes certain expenditures that are required or to
which we have committed, such as debt service requirements and dividend
payments. Our definition of adjusted free cash flow may not be comparable to
similarly titled measures presented by other companies.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

     Exhibit No.             Description
         99.1                Press release of Republic Services, Inc.

issued May 5, 2021 to announce the


                             financial results for the three months ended

March 31, 2021.


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