Clean Harbors (NYSE: CLH) reported Q2 EPS of $0.24, $0.02 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $752.8 million versus the consensus estimate of $735.63 million.

• Revenues Increase 8% to $752.8 Million, Driven by Strong Growth in Technical Services and Safety-Kleen
• Net Income of $25.9 Million and GAAP EPS of $0.45 Reflect Gain on Sale of Transformer Services Business; Adjusted EPS of $0.24
• Adjusted EBITDA Grows 9% to $120.7 Million
• Income from Operations Increases 35% to $46.7 Million
• Company Confirms 2017 Adjusted EBITDA Guidance Range
• $103.8 Million of Senior Notes Redeemed To Complete Recent Debt Transactions

Business Outlook and Financial Guidance

“Looking ahead to the second half of 2017, we expect our top-line momentum to continue, led by Technical Services and Safety-Kleen,” McKim said. “For Technical Services, we see promising trends in U.S. Industrial Production and GDP, particularly in some of our key verticals. Our pipeline of base work and project opportunities continues to grow. With our new El Dorado incinerator fully operational, we expect volumes in our incineration network to increase as the year progresses, driven by the Chemical and Retail markets.

“Within Safety-Kleen, our closed loop offering will deliver incremental growth in 2017 as we expand into additional markets with our bulk lubricants offering,” McKim continued. “Base oil and lubricant prices are expected to remain stable in the near-term. As evidenced by our recent announcement regarding our Charge-for-Oil rates and stop fees, we will continue to carefully manage the spread in our re-refinery business. We also intend to make ongoing investments in areas of Safety-Kleen that we expect to deliver long-term value as we steadily grow our direct sales business in the quarters and years ahead.

“We believe that our profitable growth initiatives, combined with signs of improvement in macroeconomic conditions and our ongoing cost-reduction programs, set the stage for a strong second half of the year. As a result, we remain on track to achieve our full-yearguidance,” McKim concluded.

Based on its year-to-date financial performance and current market conditions, Clean Harbors continues to expect full-year 2017 Adjusted EBITDA in the range of $435 million to $475 million. A reconciliation of the Company’s annual Adjusted EBITDA guidance to net income guidance is included below. On a GAAP basis, the Company’s guidance is based on 2017 net income in the range of $24 million to $55 million. Adjusted net income for 2017, which includes the loss on early extinguishment of debt, the gain on sale of business and the recognition of the non-cash tax benefits in Canada, is in the range of $30 million to $54 million. A reconciliation of the Company’s Adjusted EBITDA guidance and adjusted net income to net income guidance is included below.

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