Republic Services Inc
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Industrials : Commercial Services & Supplies | Large Cap Blend
Company profile

Republic Services, Inc. is a provider of environmental services in the United States. Through its subsidiaries, transfer stations, recycling centers and landfills, it focuses on providing effective and reliable environmental services and solutions to make proper recycling and waste disposal for its customers. The Company operates through three segments Group 1, Group 2 and Environmental Solutions. Group 1 segment primarily consists of geographic areas located in the western United States. Group 2 segment primarily consists of geographic areas located in the southeastern and mid-western United States, and the eastern seaboard of the United States. Its Environmental Solutions segment provides environmental solutions for daily operations of industrial, petrochemical and refining facilities across the United States and Canada. The Company is engaged in 77 landfill gas-to-energy and other renewable energy projects and had post-closure responsibility for 124 closed landfills.

Premarket

Last Trade
Delayed
$132.10
-1.31 (-0.98%)
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Market Hours

Closing Price
$133.41
Day's Change
0.00 (0.00%)
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Volume
(Light)
Volume:
76

10-day average volume:
1,211,841
76

Arista Networks shares gain on sales, earnings beat and strong guidance

8:21 pm ET August 1, 2022 (MarketWatch)
Print

By James Rogers

Arista rises in the extended session Monday after the networking company reports first billion-dollar revenue quarter

Arista Networks Inc. advanced in the extended session Monday after the networking company reported second-quarter results that topped Wall Street's estimates.

Shares of Arista Networks Inc. (ANET) rose about 5% after ending Monday's session up 0.84%, to $117.61.

The company reported second-quarter net income of $299.1 million, or 94 cents a share, compared with $196.9 million, or 62 cents a share in the year-ago quarter. Adjusted earnings were $1.08 a share, compared with 68 cents a share in the same period last year.

Revenue was $1.052 billion, compared with $707.3 million in the prior year's quarter. Analysts tracked by FactSet had forecast revenue of $979 million and earnings of 92 cents a share.

Arista stock rises after upgrade: 'This is the kind of name to own as the economy weakens'

"In Q2 2022, we achieved our first billion-dollar revenue quarter, despite the challenges of an uncertain supply-chain environment," said Arista Networks CEO Jayshree Ullal, in a statement. "This record milestone further validates the customer value of Arista's differentiated cloud networking platforms, now adopted by many of the largest cloud and enterprise customers around the world."

Arista, which has earned a reputation for robust growth rates, gave strong third -quarter guidance, predicting revenue of $1.025 billion to $1.075 billion, topping Wall Street's estimates. Analysts surveyed by FactSet had forecast sales of $996 million.

Speaking during a conference call to discuss the results, Arista's Chief Operating Officer Anshul Sadana said that Microsoft Corp. (MSFT) and Meta Platforms Inc. (META) are expected to account for 10% of the company's revenue for the full year.

"You can see that we're having one of our best years to date in terms of cloud customers," Ullal said during the call.

Opinion: Cisco blames China lockdowns for its forecast cut, but there could be deeper problems

The company's results come at a time when the networking industry is being watched closely for any evidence of a slowdown in business spending. In May, tech bellwether Cisco Systems Inc. (CSCO) cited the impact of COVID slowdowns in China for a revenue forecast more than $1 billion below Wall Street's expectations.

Arista shares have fallen 18.5% in 2022, compared to the S&P 500 Index's decline of 13.6%.

-James Rogers

	

(END) Dow Jones Newswires

August 01, 2022 20:21 ET (00:21 GMT)

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