Wed, Oct 30, 2:35 PM (64 days ago)
For the third quarter ending September 30, 2024, Clean Harbors, Inc. (CLH) reported total revenues of $1,529,422,000, a 12.0% increase from the prior year. The Environmental Services segment saw a 13.2% rise in revenues, driven by strong demand in Field and Emergency Response Services, bolstered by the acquisition of HEPACO. Net income rose to $115,213,000, a 26.1% year-over-year increase, with diluted earnings per share reaching $2.12. Adjusted EBITDA increased by 18.4% to $301,814,000, reflecting improved operational efficiency. Operating cash flow was $473,833,000, up from $455,692,000 in 2023, while adjusted free cash flow decreased to $110,360,000 due to higher capital expenditures, totaling $369,826,000. The company’s liquidity remains strong, with $594,700,000 in cash and marketable securities. Clean Harbors continues to invest in growth, including a new incinerator in Kimball, Nebraska, expected to commence operations in Q4 2024. Environmental liabilities remained stable at $230,236,000. Overall, the company is well-positioned for future growth despite potential regulatory challenges.