Clean Harbors (CLH) Reports In-Line Q1 EPS; Affirms EBITDA Guidance

Clean Harbors (NYSE: CLH) reported Q1 EPS of ($0.22), in-line with the analyst estimate of ($0.22). Revenue for the quarter came in at $636.1 million versus the consensus estimate of $659.43 million.

Company Affirms 2016 Adjusted EBITDA Guidance of $430 Million to $490 Million.

“Our first-quarter performance was supported by a strong contribution from the Safety-Kleen segments,” McKim said. “SK Environmental Services achieved a 30 percent increase in profitability due to higher revenues, cost improvements and a favorable business mix. Within Kleen Performance Products, we carefully managed the spread between waste oil collection and base oil pricing through the stop-fee initiative we announced in December.

“Within Technical Services, incineration utilization in the quarter was strong at 88 percent, and landfill volumes declined 33 percent from those of a year ago due to limited oil and gas production waste streams, project deferrals and lower industrial volumes," McKim said. "Industrial and Field Services revenue and profitability decreased due to a declining market in Western Canada and other energy-dependent regions. Conditions also continued to be challenging in our Oil and Gas Field Services and Lodging Services segments, reflecting worsening in the overall energy market during the first quarter, to which we responded with additional cost-cutting measures."

For earnings history and earnings-related data on Clean Harbors (CLH) click here.

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