Clean Harbors (NYSE: CLH) reported Q1 EPS of ($0.12), $0.04 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $749.8 million versus the consensus estimate of $733.93 million.

• Reports 9% Increase in Q1 Revenues to $749.8 Million, Driven by Growth Across Key Verticals
• Announces GAAP Net Loss of $12.6 Million, or $0.22 per Share; Adjusted Net Loss of $0.12 per Share
• Achieves Q1 Adjusted EBITDA of $88.3 Million, up 10% due to Strong Safety-Kleen Contribution and Higher Waste Volumes in Disposal Network
• Creates Regional Sales and Service Organization, Forms Environmental Services Segment
• Confirms 2018 Adjusted EBITDA and Adjusted Free Cash Flow Guidance

Business Outlook and Financial Guidance

“We begin the second quarter with strong momentum across multiple markets and remain excited about our prospects for 2018,” McKim said. “The current economic environment is favorable for us with a healthy industrial economy and rising crude prices. We are committed to enhancing margins through pricing strategies, improved revenue mix and operating efficiencies.

“Within Environmental Services, the outlook for our disposal network is positive, supported by the expansion of the chemical industry. We also are seeing an upward trajectory in our Industrial Services business. The addition of Veolia should accelerate the recovery we are beginning to see in that area.

“Within Safety-Kleen, the core offerings in our branch business are generating profitable growth while our comprehensive initiatives around our closed-loop program continue to gain momentum. Our target is to double the number of gallons sold through our closed-loop initiative in 2018 as compared with the prior year, and we are on track to hit that goal. Overall, we continue to anticipate a strong Adjusted EBITDA and adjusted free cash flow performance for the Company in 2018,” McKim concluded.

Based on its first-quarter financial performance and current market conditions, Clean Harbors reiterated its full-year 2018 Adjusted EBITDA guidance in the range of $440 million to $480 million. On a GAAP basis, the Company’s guidance is based on anticipated 2018 net income in the range of $12 million to $51 million. A reconciliation of the Company’s Adjusted EBITDA guidance to net income guidance is included below. For 2018, Clean Harbors expects to generate adjusted free cash flow in the range of $125 million to $155 million, which is based on anticipated 2018 net cash from operating activities in the range of $295 million to $345 million.

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