NYSE$CLH
Clean Harbors Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Clean Harbors announced a 5% revenue increase driven by Environmental Services, and achieved growth in adjusted EBITDA with margin improvement.
Clean Harbors reported a 5% increase in revenue to $1.38 billion, driven by a 10% growth in Environmental Services. Net income was $69.8 million, or $1.29 per diluted share. Adjusted EBITDA grew 7% to $230.1 million, with a margin of 16.7%. The company raised its full-year 2024 adjusted EBITDA guidance and maintained its adjusted free cash flow guidance.
- Revenue increased by 5% to $1.38 billion, led by a 10% growth in Environmental Services.
- Net income reached $69.8 million, with EPS at $1.29.
- Adjusted EBITDA grew by 7% to $230.1 million, resulting in a 16.7% margin.
- Full-year 2024 adjusted EBITDA guidance was raised, and adjusted free cash flow guidance was maintained.
Headline financials
Revenue & EPS history
Clean Harbors · Revenue · Quarterly
$1.38B
Revenue by segment
Clean Harbors · $1.37B total across 2 segments · Q3 2023
- Environmental Services$1.15B+5.5%83.9%
- Safety-Kleen Sustainability$219M-20.7%16.1%
Forward guidance
Clean Harbors expects Adjusted EBITDA to grow 7% to 8% in the second quarter of 2024. For full-year 2024, the company anticipates Adjusted EBITDA in the range of $1.1 billion to $1.15 billion and Adjusted free cash flow in the range of $340 million to $400 million.
Tailwinds
- Underlying market conditions are driving favorable demand for services.
- Disposal and recycling network continues to see strong volumes and a healthy backlog.
- Kimball, Nebraska incinerator is quickly approaching commercial launch.
- Safety-Kleen Environmental Services business is expected to deliver another year of solid profitable growth in 2024.
- HEPACO addition provides a strategic platform for growth with cross-selling and synergy savings anticipated.
Headwinds
- Second quarter of 2024, Clean Harbors expects Adjusted EBITDA to grow 7% to 8% from the second quarter of 2023.
- Adjusted EBITDA in the range of $1.1 billion to $1.15 billion.
- Adjusted free cash flow in the range of $340 million to $400 million.
- The Kimball incinerator and Baltimore expansion impact the adjusted free cash flow.
- Base oil and lubricants experiencing a challenging demand and pricing environment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.8%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.6%
Avg return
30 days after
41%
28 / 68 earnings
Positive
+17.4%
Q3 2020
Best reaction
-14.3%
Q4 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | -6.5% | -9.9% | |
| Q4 2025 | +2.7% | +4.4% | +2.5% | |
| Q3 2025 | -11.5% | -15.2% | -7.6% | |
| Q1 2025 | -0.1% | +4.1% | +5.9% | |
| Q4 2024 | -3.0% | -6.6% | -13.4% | |
| Q3 2024 | -12.2% | -9.8% | -1.3% | |
| Q2 2024 | +8.0% | +1.2% | +9.6% | |
| Q1 2024 | +8.5% | +12.2% | +14.3% | |
| Q4 2023 | -2.6% | -1.8% | +4.0% | |
| Q3 2023 | +0.9% | +0.5% | +8.6% | |
| Q2 2023 | +0.3% | +1.3% | +4.0% | |
| Q1 2023 | -6.5% | -6.4% | +3.3% | |
| Q4 2022 | +3.2% | +2.2% | +7.9% | |
| Q3 2022 | -8.0% | -8.3% | +2.1% | |
| Q2 2022 | +8.8% | +13.8% | +18.9% | |
| Q1 2022 | -6.7% | -12.6% | -6.3% | |
| Q4 2021 | -2.1% | +2.4% | +15.3% | |
| Q3 2021 | -10.0% | -8.3% | -16.3% | |
| Q2 2021 | +3.0% | +5.0% | +6.8% | |
| Q1 2021 | +5.7% | +6.0% | +6.2% | |
| Q4 2020 | +0.4% | +0.7% | +0.3% | |
| Q3 2020 | +17.4% | +25.6% | +36.2% | |
| Q2 2020 | +5.9% | +8.2% | -4.9% | |
| Q1 2020 | -5.1% | -8.8% | +5.5% | |
| Q4 2019 | -10.6% | -10.7% | -38.2% | |
| Q3 2019 | +5.1% | +6.1% | +5.4% | |
| Q2 2019 | +4.2% | +0.5% | +0.9% | |
| Q1 2019 | -6.1% | -6.4% | -15.6% | |
| Q4 2018 | +13.3% | +12.8% | +19.2% | |
| Q3 2018 | +1.0% | +0.6% | +1.4% | |
| Q2 2018 | +9.7% | +8.9% | +20.5% | |
| Q1 2018 | +12.7% | +13.6% | +18.1% | |
| Q4 2017 | -4.0% | +0.7% | -2.5% | |
| Q3 2017 | -0.2% | -0.3% | +0.4% | |
| Q2 2017 | -6.0% | -5.6% | -6.5% | |
| Q1 2017 | +2.0% | +2.5% | +1.2% | |
| Q4 2016 | +0.8% | +2.0% | -3.8% | |
| Q3 2016 | -4.1% | -3.7% | +16.6% | |
| Q2 2016 | -1.4% | -2.2% | -7.0% | |
| Q1 2016 | -5.2% | — | — | |
| Q4 2015 | -1.1% | — | — | |
| Q3 2015 | -5.4% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | -2.2% | — | — | |
| Q4 2014 | +8.7% | — | — | |
| Q3 2014 | -1.1% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -1.3% | — | — | |
| Q4 2013 | -14.3% | — | — | |
| Q3 2013 | -6.8% | — | — | |
| Q2 2013 | -5.4% | — | — | |
| Q1 2013 | -7.5% | — | — | |
| Q4 2012 | +1.5% | — | — | |
| Q3 2012 | -0.1% | — | — | |
| Q2 2012 | -6.6% | — | — | |
| Q1 2012 | -5.6% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q3 2011 | -6.0% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q1 2010 | +3.3% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q4 2008 | -2.4% | — | — | |
| Q4 2010 | -2.4% | — | — | |
| Q3 2009 | +0.5% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q2 2010 | -1.9% | — | — | |
| Q4 2009 | -1.9% | — | — | |
| Q2 2009 | -1.9% | — | — |
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