Clean Harbors, Inc. (CLH) Misses Q3 EPS by 18c, Lowers FY Guidance

Clean Harbors, Inc. (NYSE: CLH) reported Q3 EPS of $0.45, $0.18 worse than the analyst estimate of $0.63. Revenue for the quarter came in at $851.5 million versus the consensus estimate of $901.52 million.

Business Outlook and Financial Guidance

“As we enter the final quarter of 2014, we see ongoing strength within our environmental-related businesses but expect continued headwinds across several segments,” McKim said. “Our Technical Services segment has built a large backlog entering the quarter as we continue to drive considerable volumes from Safety-Kleen and project-related work. Within SK Environmental Services, we are expanding through new branch locations and cross-selling. Within Oil Re-refining and Recycling, we are focused on lowering PFO costs, capturing greater transportation efficiencies and pursuing product differentiation and blended opportunities to help offset the recent declines in base oil pricing. Activity in the Oil Sands region remains weaker-than-expected, which is limiting opportunities for Industrial Services and Lodging Services. While our Oil and Gas Field Services segment is entering its stronger operating period as the winter drilling season approaches, overall conditions are not favorable near-term as our seismic business continues to underperform and energy markets remain under commodity pressure.”

Based on its year-to-date performance and current market conditions, Clean Harbors is adjusting its previously announced 2014 annual revenue and Adjusted EBITDA guidance. The Company now expects revenues in the range of $3.40 billion to $3.42 billion, compared with its previously announced range of $3.5 billion to $3.6 billion. The Company now expects Adjusted EBITDA in the range of $510 million to $520 million, compared with its previously announced range of $535 million to $555 million.

(Street sees FY revenue of $3.50 billion).

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

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