Overview: Republic Services delivered QQ3 2024 results with solid top-line momentum and robust cash flow generation, underscoring the durability of the business model in the US waste management sector. Revenue reached 4.0762 billion USD, rising 6.54% year-over-year (YoY) and 0.70% quarter-over-quarter (QoQ). The company posted a gross profit of 1.2606 billion USD (gross margin 30.93%), operating income of 854.6 million USD (operating margin 20.97%), and net income of 565.7 million USD (net margin 13.88%), or earnings per share (EPS) of 1.80. Free cash flow (FCF) stood at 563.6 million USD, supported by 1.0031 billion USD of cash flow from operations and capital discipline evidenced by 439.5 million USD in capital expenditures. During the quarter, Republic returned capital via dividends and modest share repurchases, while maintaining deleveraging optionality within a leveraged capital structure.