Adjusted EBITDA margin was a strong 33.5%, among the highest in company history, reflecting operational excellence despite a challenging demand environment.
Domestic Allied Product sales increased 1%, with double-digit growth in multifamily residential markets and key products like retention/detention chambers and stormwater capture structures.
Free cash flow improved significantly to $222 million year-to-date from $126 million prior year, driven by better working capital management.
Infiltrator segment grew 21% this quarter, supported by strong commercial applications and double-digit organic growth in on-site wastewater tanks.
Revenue increased 2% to $830 million in Q1 2026, driven primarily by the Orenco acquisition, despite slightly down organic sales.
Adjusted earnings per share were $1.77 for the quarter.
Adjusted EBITDA margin expanded by 100 basis points to 32.1%.
Average yield on total revenue was 4.1%, and average yield on related revenue was 5%.
Combined tax rate and equity investment impacts resulted in an equivalent tax rate of 23.3% during the quarter.
Environmental Solutions revenue declined, causing a 90 basis point headwind to total company revenue, but maintained flat EBITDA margin compared to prior year.
Organic volume increased 20 basis points, driven by special waste and C&D landfill activity related to hurricane and wildfire recovery efforts.
Republic Services delivered second quarter revenue growth of 4.6% and adjusted EBITDA growth of 8%.
Total debt was $13.1 billion with total liquidity of $3 billion and a leverage ratio of approximately 2.5x.
Year-to-date adjusted free cash flow was $1.42 billion.
Dafinchi