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) announced successful results from a third-party study demonstrating over 99.9999% PFAS destruction via high-temperature combustion at its RCRA-permitted facility in Utah. This study, validated by environmental scientist Philip H. Taylor, confirms the facility's capability to safely eliminate harmful PFAS compounds, addressing a significant environmental and public health challenge. The results suggest that Clean Harbors' thermal destruction units can effectively handle legacy and replacement PFAS, meeting stringent safety standards for emissions.
Clean Harbors has appointed Eric W. Gerstenberg and Michael L. Battles as co-CEOs, effective March 31, 2023, succeeding founder Alan S. McKim, who becomes Executive Chairman and CTO. This leadership transition comes after a comprehensive selection process, aiming to maintain stability for stakeholders. Gerstenberg, with over 30 years at Clean Harbors, and Battles, who joined in 2013, bring extensive experience to their new roles. The company emphasizes its strategic growth and commitment to environmental services, building on a legacy that has transformed the industry since 1980.
Clean Harbors (NYSE: CLH) reported a Q3 revenue growth of 43% to $1.36 billion, attributed to robust demand and the acquisition of HydroChemPSC. The net income reached $135.8 million with an EPS of $2.50, and adjusted EPS was $2.43. Adjusted EBITDA surged 67% to $308.6 million, with margin improvements reflecting stronger operational efficiencies. The company updated its 2022 guidance, projecting adjusted EBITDA between $1.010 billion and $1.030 billion, while adjusted free cash flow is expected between $260 million and $290 million.
Clean Harbors, Inc. (NYSE: CLH) will host its third-quarter 2022 financial results conference call on November 2, 2022, at 9:00 a.m. ET. The call will feature key executives discussing financial performance, business outlook, and growth strategy. Investors can listen via the Company’s website or by dialing in. Clean Harbors is North America’s leading environmental and industrial services provider, serving Fortune 500 companies across various sectors, including hazardous waste management and recycling.
Clean Harbors (NYSE: CLH) announces participation in the 21st Annual D.A. Davidson Diversified Industrials and Services Conference. CFO Michael L. Battles and SVP of Investor Relations Jim Buckley will engage in a fireside chat on September 22, 2022, at 5:15 p.m. ET. Investors can access the live or archived webcast through Clean Harbors’ Investor Relations website. Clean Harbors provides comprehensive environmental and industrial services across North America, serving a wide array of industries, including energy and manufacturing.
Clean Harbors (NYSE: CLH) announced the addition of executives Alison Quirk and Shelley Stewart Jr. to its board of directors, expanding the board to 12 members, 11 of whom are independent. Quirk, formerly with State Street, brings expertise in HR, corporate strategy, and diversity initiatives, while Stewart, with a background at DuPont and Tyco, enhances the board’s operational efficiency and supply chain expertise. Both executives will serve crucial roles on board committees and will help Clean Harbors in executing its growth strategy.
Barr GeoSpatial Solutions, LLC has been formed through the acquisition of Airborne Imaging business from subsidiaries of Clean Harbors (NYSE: CLH). The acquisition enhances Barr's capabilities in providing comprehensive asset protection solutions, including advanced LiDAR sensors and methane leak detection. The combined entity boasts the largest independent LiDAR acquisition platform in North America, with eleven LiDAR sensors, and serves diverse markets like oil and gas, forestry, and government. Edward A. Feuerstein has been appointed CEO, with Airborne Imaging continuing as a standalone subsidiary.
Clean Harbors (NYSE: CLH) announced key executives, including CFO Michael L. Battles and COO Eric Gerstenberg, will participate in a fireside chat at the Raymond James Diversified Industrials Conference on August 23, 2022, at 1:10 p.m. ET. The event will be webcast live, accessible via the Investor Relations section of Clean Harbors’ website. As North America's leading environmental services provider, Clean Harbors supports a diverse clientele across various sectors.
Clean Harbors reports Q2 2022 revenues of $1.36 billion, a 46% increase year-over-year, and net income of $148.2 million or $2.71 per diluted share. Adjusted EBITDA rose 65% to $309.1 million. Growth is attributed to robust demand, effective pricing, and the acquisition of HydroChemPSC. The company raised its 2022 Adjusted EBITDA guidance to $975 million to $1.005 billion. Clean Harbors anticipates continued demand in the second half of 2022, supported by U.S. manufacturing and infrastructure spending.
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