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Sep 30, 2024
Clean Harbors Q3 2024 Earnings Report
Clean Harbors' Q3 2024 performance was marked by revenue growth and increased profitability.
Key Takeaways
Clean Harbors reported a 12% increase in revenue to $1.53 billion for Q3 2024, driven by strength in Field Services. Net income grew by 26% to $115.2 million, with EPS reaching $2.12. Adjusted EBITDA increased by 18% to $301.8 million, reflecting improved margins in the Environmental Services segment.
Revenue increased by 12% to $1.53 billion, driven by strong performance in Field Services.
Net income grew by 26% to $115.2 million, with EPS at $2.12.
Adjusted EBITDA increased by 18% to $301.8 million, with a margin of 19.7%.
Full-year 2024 Adjusted EBITDA guidance was revised to $1.10 billion to $1.12 billion.
Revenue by Segment
Forward Guidance
Clean Harbors revised its full-year 2024 guidance and now expects Adjusted EBITDA in the range of $1.10 billion to $1.12 billion and Adjusted free cash flow in the range of $280 million to $320 million.
Positive Outlook
- Overall demand environment in North America is healthy.
- Outlook for the ES segment is positive.
- Favorable market dynamics should continue to fuel growth opportunities.
- Commercial launch of new incinerator in Kimball, Nebraska is scheduled for November.
- Addition of HEPACO’s emergency response capabilities creates a foundation for continued growth in Field Services.
Challenges Ahead
- Market obstacles related to base oil and refining customers.
- Pricing challenges and weak demand for base oil.
- Actions to counter the weakness in fall turnarounds.
- Taking decisive actions to reduce production and collection costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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