Clean Harbors (CLH) reported strong Q4 2022 results, beating both earnings and revenue estimates. Adjusted earnings per share were $1.44, up 61.8% from the previous year, and total revenue grew 14.2% to $1.28 billion. The Environmental Services segment saw revenues of $1.04 billion, up 15% year-over-year, while the Safety-Kleen Sustainability Solutions segment saw revenues of $238.4 million, up 9% year-over-year. Adjusted EBITDA increased 29% year-over-year, with a margin of 17.5%. Clean Harbors (NYE:CLH) expects adjusted EBITDA to increase by 20% in Q1 2023 and has provided guidance for adjusted EBITDA, adjusted free cash flow, and net cash from operating activities for the year. The stock rose 2.3% following the earnings release.
Clean Harbors’ strong Q4 results have impressed investors, leading to a 2.3% increase in the stock since the earnings release on March 1st. The company’s focus on Environmental Services and Safety-Kleen Sustainability Solutions has paid off with significant revenue growth in both segments.
Clean Harbors has provided guidance for Q1 2023 and the full year, with expectations for continued growth in adjusted EBITDA and adjusted free cash flow. The company’s balance sheet and cash flow position also remain strong, with increased cash and cash equivalents and net cash from operating activities in Q4 2022.
Clean Harbors Inc Stock Analysis
According to nine analysts, the average target price for Clean Harbors Inc. in the next 12 months is USD 146.60, and the average analyst ratings is Strong Buy. Stock Target Advisor’s analysis is also Very Bullish, based on two positive signals and no negative signals. Clean Harbors Inc’s closing stock price was USD 135.02, which increased by 1.45% over the past week, 2.94% over the past month, and 35.58% over the last year.
Company Overview
Clean Harbors, Inc. provides environmental and industrial services, operating through two segments: The Environmental Services and The Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, provides industrial maintenance and specialty industrial services. The Safety-Kleen Sustainability Solutions segment provides pickup and transportation services for hazardous and non-hazardous containerized waste for recycling or disposal, machine cleaning and maintenance, and vacuum services. The company was founded in 1980 and is based in Norwell, Massachusetts.
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