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Dec 31, 2021
Clean Harbors Q4 2021 Earnings Report
Clean Harbors reported strong Q4 2021 financial results, driven by favorable market dynamics and the acquisition of HydroChemPSC.
Key Takeaways
Clean Harbors announced impressive Q4 2021 results, with revenues reaching $1.12 billion, a 41% increase year-over-year. Net income was reported at $49.0 million, or $0.90 per diluted share, and adjusted EBITDA grew by 23% to $174.3 million. The company's performance was boosted by high demand for hazardous waste disposal, industrial services, and re-refined products, along with contributions from the HydroChemPSC acquisition.
Q4 revenues increased by 41% to $1.12 billion.
Net income for Q4 was $49.0 million, or $0.90 per diluted share.
Adjusted EBITDA for Q4 grew by 23% to $174.3 million.
The incineration network utilization was 92% in the quarter, compared to 84% in the prior year.
Revenue by Segment
Forward Guidance
Clean Harbors anticipates continued momentum across key business lines, projecting strong profitable growth and solid free cash flow for 2022. The company expects Adjusted EBITDA to increase 30%-35% for the first quarter and provides full-year 2022 guidance.
Positive Outlook
- Healthy backlog of waste streams in disposal facilities and customer sites.
- Underlying trends in regulations and U.S. manufacturing supporting a positive outlook.
- Robust pipeline of remediation and waste projects.
- Promising outlook for the Industrial Services business, particularly with HPC.
- Favorable pricing environment for sustainable lubricant products and base oil within SKSS.
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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