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Sep 30, 2021
Clean Harbors Q3 2021 Earnings Report
Clean Harbors reported a strong third quarter, marked by revenue growth and solid performance across its segments.
Key Takeaways
Clean Harbors announced a 22% increase in Q3 revenues, reaching $951.5 million, the highest quarterly revenue in the company's history. Net income was $65.4 million, or $1.20 per diluted share, with adjusted EPS of $1.14. The company also achieved a 10% growth in adjusted EBITDA, amounting to $185.1 million, and raised its full-year 2021 adjusted EBITDA and adjusted free cash flow guidance.
Q3 revenues increased by 22% to $951.5 million.
Net income reached $65.4 million, with an EPS of $1.20 and adjusted EPS of $1.14.
Adjusted EBITDA grew by 10% to $185.1 million, representing a margin of 19.5%.
Full-year 2021 adjusted EBITDA and adjusted free cash flow guidance were raised.
Clean Harbors
Clean Harbors
Clean Harbors Revenue by Segment
Revenue by Segment
Environmental Services Revenue
CapyFin.comSafety-Kleen Sustainability Solutions Revenue
CapyFin.com Forward Guidance
Clean Harbors anticipates a strong finish to 2021 across its core business lines, driven by sustained demand and the recent acquisition of HydroChemPSC. The company expects to navigate challenges related to cost inflation, supply chain disruption, and labor availability through pricing initiatives. A favorable outlook is maintained for both segments into 2022, supported by a wide spread between used oil and base oil pricing within the SKSS segment.
Positive Outlook
- Strong demand environment in North America is expected to continue.
- HydroChemPSC acquisition is expected to accelerate growth.
- Considerable backlog of waste volumes within the Environmental Services network.
- Field Services business has transitioned well back to its core operations.
- Wide spread between used oil to base oil pricing is expected to continue benefiting the SKSS segment.
Challenges Ahead
- Cost inflation.
- Supply chain disruption.
- Labor availability.
- Transportation-related limitations.
- Navigating through ongoing headwinds.
Revenue & Expenses
Visualization of income flow from segment revenue to net income