Clean Harbors Hammered on Q4 Figures

Clean Harbors, Inc. (NYSE: CLH) shares declined sharply Wednesday, as the leading provider of environmental and industrial services throughout North America announced financial results for the fourth quarter and year ended December 31, 2024.“Our fourth-quarter results were in line with our expectations as our Environmental Services (ES) segment capped a record 2024 with a robust performance, including the 11th consecutive quarter of year-over-year margin growth,” said Mike Battles, Co-Chief Executive Officer. “The segment benefited from steady demand, strong waste collection volumes, a healthy flow of project work and favorable pricing. For the full year the segment saw 11% top-line growth and annual Adjusted EBITDA margin exceeded 25%. We maintained a strong focus on safety and continuous improvement in the quarter, which contributed to a Total Recordable Incident Rate (TRIR) that enabled us to surpass our 2024 goal.”Fourth-quarter revenues grew 7% to $1.43 billion, compared with $1.34 billion in the same period of 2023. Income from operations was $137.0 million, compared with $147.3 million in the fourth quarter of 2023.Net income was $84.0 million, or $1.55 per diluted share, compared with $98.3 million, or $1.81 per diluted share, for the same period in 2023.Adjusted EBITDA was $257.2 million, compared with $254.9 million in the same period of 2023.CLH shares tumbled $13.38, or 5.9%, to $213.19.