Welcome to our dedicated page for Clean Harbors news (Ticker: CLH), a resource for investors and traders seeking the latest updates and insights on Clean Harbors stock.
Clean Harbors, Inc. (CLH) is the largest provider of environmental, energy, and industrial services in North America. It specializes in hazardous waste disposal, serving a diverse customer base that includes a majority of Fortune 500 companies, various smaller private entities, and numerous federal, state, provincial, and local governmental agencies. The company’s core services encompass the collection, packaging, transportation, recycling, treatment, and disposal of both hazardous and non-hazardous waste.
Clean Harbors also offers a wide array of environmental cleanup services, available both on a scheduled and emergency response basis. These services are extended to customer sites or other specific locations. Additionally, the company provides industrial and specialty services like high-pressure and chemical cleaning, catalyst handling, decoking, material processing, and industrial lodging services. These are particularly tailored to refineries, chemical plants, pulp and paper mills, and other industrial facilities.
The company's business is divided into two main segments: Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment is the primary revenue generator, providing parts cleaning and related environmental services to commercial, industrial, and automotive customers.
In recent developments, Clean Harbors announced the acquisition of HEPACO, LLC, a leading provider of emergency response and scheduled environmental services, for $400 million. This acquisition aims to expand Clean Harbors’ geographical reach and service offerings. HEPACO operates from over 40 service centers throughout the Eastern United States, employing approximately 1,000 people. The acquisition is expected to accelerate HEPACO’s growth initiatives and enhance its service capabilities.
With a strong commitment to environmental sustainability and safety, Clean Harbors continues to lead in providing comprehensive waste management solutions and industrial services. The company’s notable partnerships and continuous expansion underscore its significant role in the industry.
Clean Harbors, Inc. announced a 5% increase in Q1 revenue to $1.38 billion, led by 10% growth in Environmental Services. They achieved a net income of $69.8 million with EPS of $1.29 and raised their 2024 Adjusted EBITDA guidance. The company reported strong results in their ES segment and highlighted improvements in their SKSS segment. They are confident in their growth goals for 2024 and anticipate positive performance in the coming quarters.
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