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 (NYSE: CLH) has unveiled its long-term growth strategy, "Vision 2027", during the 2023 Investor Day in Chicago. This strategy aims to enhance stakeholder value through disciplined capital allocation and targeted growth in core areas. The five-year financial targets include achieving ~$1.4 billion in Adjusted EBITDA from organic growth alone and ~$2.0 billion when combining organic growth with acquisitions. The company anticipates strong revenue growth, exceeding U.S. GDP by 100-300 basis points, aided by industry trends such as reshoring and sustainability. Clean Harbors continues to prioritize value creation and market stability.
Clean Harbors (NYSE: CLH) announced the appointment of Karyn Polito to its Board of Directors, effective immediately. Polito, former Lieutenant Governor of Massachusetts, is expected to enhance the Board's expertise in government, regulatory, and public affairs. Additionally, Edward Galante will become the Lead Independent Director, succeeding Dr. Eugene Banucci and Thomas Shields, who will retire and not seek re-election at the upcoming 2023 Annual Meeting in May. The Board now consists of 13 members, 12 being independent, with Polito serving on both the Audit and Governance Committees.
Clean Harbors (NYSE: CLH) has announced major executive appointments to enhance its leadership team. Eric Dugas has been named EVP and Chief Financial Officer, effective March 31, 2023, succeeding Michael Battles, who will become co-CEO. Dugas brings extensive experience from his tenure as Chief Accounting Officer and a background from Deloitte & Touche. Additionally, Brian Weber has been appointed President of Safety-Kleen Sustainability Solutions, aiming to expand this growing segment. Both executives are expected to drive business growth and shareholder value.
Clean Harbors reported Q4 2022 revenues of $1.28 billion, a 14% increase from Q4 2021, driven by strong demand in its Environmental Services segment. Net income rose to $82.5 million or $1.52 per share. The company achieved Adjusted EBITDA of $224.2 million, up 29% year-over-year, with full-year revenues of $5.17 billion and net income of $411.7 million. For 2023, Clean Harbors expects Adjusted EBITDA in the range of $1,010 million to $1,050 million and adjusted free cash flow between $305 million and $345 million. Overall, 2022 was marked by significant growth and improved profitability.
Clean Harbors (NYSE: CLH) has announced a presentation at the Raymond James 44th Annual Institutional Investors Conference. Scheduled for 1:05 p.m. ET on March 6, 2023, the presentation will feature CFO Michael L. Battles, Chief Accounting Officer Eric Dugas, and SVP Investor Relations Jim Buckley. Interested parties can access the live or archived webcast through the Investor Relations section of the Clean Harbors website. The company is recognized as North America’s leading provider of environmental and industrial services, catering to numerous industries and government agencies.
Clean Harbors (NYSE: CLH), a leader in environmental and industrial services in North America, will host an Investor Day on March 29, 2023, in Chicago. The event, starting at 8:00 a.m. CT, will include presentations from key executives like Alan S. McKim and Michael L. Battles discussing company strategies and growth initiatives. Attendees will have the opportunity to tour the world’s largest base oil re-refinery in East Chicago, Indiana. A live webcast will be available, and registrations can be made via the company's website.
Clean Harbors, Inc. (NYSE: CLH) will announce its fourth-quarter and full-year 2022 financial results on March 1, 2023, at 9:00 a.m. ET. The conference call will feature key executives discussing financial outcomes and growth strategies. Clean Harbors, a top provider of environmental and industrial services in North America, serves many Fortune 500 companies across various sectors, including chemical and energy. The company also emphasizes its role in hazardous waste management and recycling through its Safety-Kleen subsidiary. Interested parties can access the call via the company's website or by phone.
Clean Harbors (NYSE: CLH) has announced a private offering of $500 million in senior notes due 2031, priced at an interest rate of 6.375%. The offering is set to close on January 24, 2023, contingent on customary conditions. The funds will be used to repay $614 million in senior secured term loans due in 2024, alongside a $114 million loan from its existing revolving credit facility. The notes will be offered under Rule 144A and Regulation S, not registered under the Securities Act.
Clean Harbors, Inc. (NYSE: CLH) has announced a private offering of $500 million in senior notes expected to mature in 2031. The net proceeds will be used to repay $614 million in senior secured term loans due in 2024, along with related fees and expenses. The offering is designed for qualified institutional buyers and will not be registered under the Securities Act, ensuring compliance with regulatory standards. Founded in 1980, Clean Harbors is a leading provider of environmental and industrial services across North America, serving a diverse customer base including Fortune 500 companies.
Clean Harbors (NYSE: CLH), a leader in environmental and industrial services in North America, has announced its participation in two upcoming investor conferences in January 2023. CFO Michael L. Battles and SVP Investor Relations Jim Buckley will present at the 25th Annual Needham Growth Conference on January 10 at 12:45 p.m. ET, and at the CJS 23rd Annual Virtual New Ideas Conference on January 11 at 1:35 p.m. ET. Interested investors can access live or archived webcasts on the company's Investor Relations website.
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