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Sep 30, 2022
Clean Harbors Q3 2022 Earnings Report
Reported a strong third quarter with revenue growth and increased profitability.
Key Takeaways
Clean Harbors reported a strong Q3 2022 with a 43% increase in revenue to $1.36 billion, driven by strong demand for services and the addition of HydroChemPSC. Net income was $135.8 million, with an EPS of $2.50 and an adjusted EPS of $2.43. Adjusted EBITDA grew by 67% to $308.6 million.
Revenue increased by 43% to $1.36 billion compared to Q3 2021.
Net income reached $135.8 million, or $2.50 per diluted share.
Adjusted EBITDA grew by 67% to $308.6 million.
The company revised its 2022 Adjusted EBITDA guidance to more than $1 billion.
Revenue by Segment
Forward Guidance
Clean Harbors anticipates a strong finish to 2022, leveraging the strengths of both operating segments to achieve record top- and bottom-line results. The company is raising its annual Adjusted EBITDA guidance to more than $1 billion.
Positive Outlook
- Continuing to see a record backlog of waste.
- Healthy demand for disposal and recycling assets.
- Service businesses entering the final quarter with good momentum.
- Growing interest in sustainable products.
- Continuing to collect the volumes needed for plants at better rates due to the long-term market impact of IMO 2020.
Challenges Ahead
- Revenue is growing more rapidly than expected, driving higher than anticipated working capital needs.
- Carrying a higher level of critical inventories to ensure staying ahead of global supply chain shortages.
- Reducing adjusted free cash flow guidance to reflect the timing of working capital.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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