Loading...
•
Dec 31, 2020
Clean Harbors Q4 2020 Earnings Report
Clean Harbors reported a strong fourth quarter, with revenue growth driven by the Environmental Services segment and strength in COVID-19 decontamination work.
Key Takeaways
Clean Harbors announced strong Q4 2020 results, with revenue at $796.2 million and net income at $39.3 million, or $0.71 per diluted share. The Environmental Services segment led the performance, driven by high-value waste streams and COVID-19 decontamination work.
Revenue grew nearly $17 million sequentially from Q3 2020.
Environmental Services segment drove better-than-expected results.
Average price per pound in the quarter increased by 16% from Q4 2019.
COVID-19 decontamination work revenue totaled $31 million.
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 expects a measurable recovery as the year progresses, with the COVID-19 decontamination business serving as a natural hedge. They anticipate additional waste streams, a rebound in the U.S. chemical and manufacturing industries, and growing demand for sustainable solutions.
Positive Outlook
- Positive momentum on many fronts – financially, operationally and within the markets served.
- Expect to experience a measurable recovery as the year progresses.
- COVID-19 decontamination business continues to serve as a natural hedge.
- Start the year with a healthy backlog of waste in disposal facilities.
- Growing demand for sustainable solutions.
Challenges Ahead
- Pandemic continues to weigh on some lines of business.
- New shelter-in-place restrictions in areas limited the ability of the branch business to continue its recovery to pre-pandemic levels.
- Lower vehicle miles driven continued to dampen market demand for lubricants.
- Incineration utilization rate of 84% was lower than last year due to a higher-than-expected number of maintenance days in the quarter.
- Landfill volumes were down 37%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income