Heritage-Crystal Clean, Inc. Announces Record 2021 Fourth Quarter and Full Year Financial Results
Heritage-Crystal Clean's fourth quarter 2021 report highlights strong financial performance with a net income of $18.1 million, a significant increase from $5.3 million in Q4 2020. Basic earnings per share reached $0.77, up from $0.23. Total revenue rose 28.4% to $169.5 million, driven by record highs in both the Oil Business and Environmental Services segments. Operating margin improved to 26.6%, and EBITDA for the quarter was a record $33.1 million. For fiscal 2021, revenue reached $515.3 million, marking a 26.9% increase year-over-year.
- Net income increased to $18.1 million in Q4 2021, a significant rise from $5.3 million in Q4 2020.
- Basic earnings per share rose to $0.77 from $0.23 year-over-year.
- Oil Business segment revenue reached a record $65.8 million, up 60.1% from the prior year.
- Total revenue for Q4 2021 was $169.5 million, a 28.4% increase compared to Q4 2020.
- Operating margin improved to 26.6% from 19.8% in Q4 2020.
- Environmental Services profit margin decreased to 22.0% compared to 24.6% in Q4 2020, due to increased transportation and disposal expenses.
Fourth Quarter Highlights:
-
Net income was
; up significantly compared to net income of$18.1 million in the fourth quarter of 2020.$5.3 million
-
Basic earnings per share was
for the quarter, up significantly from$0.77 for the fourth quarter of 2020.$0.23
-
Oil Business segment revenue of
represents a record high compared to all previous quarters, and an increase of$65.8 million 60.1% from the year-ago quarter.
-
Oil Business segment profit before corporate selling, general, and administrative expenses was a record
with an operating margin of$22.2 million 33.7% .
-
Environmental Services segment revenue was a record
, an increase of$103.7 million 14.0% from the year-ago quarter.
-
EBITDA for the quarter was a record
, the fifth consecutive quarter of record-setting EBITDA.$33.1 million
Fourth Quarter Review
Total revenue for the fourth quarter of 2021 increased
Operating margin increased to
Net income was
Fiscal 2021 Review
In 2021, we generated
Operating margin for 2021 was
Net income for fiscal 2021 was
Segments
Our Environmental Services segment includes parts cleaning, containerized waste, wastewater vacuum, antifreeze recycling, and field services. The Environmental Services segment reported revenue of
Our profit before corporate SG&A expense as a percentage of revenue was
During fiscal 2021, Environmental Services segment revenue increased
President and CEO
Our Oil Business segment includes used oil collection activities, sales of recycled fuel oil, and re-refining activities. During the fourth quarter of fiscal 2021, Oil Business revenues increased
Oil Business segment operating margin improved 24.6 percentage points to
Full year 2021 Oil Business segment revenue increased by
Recatto commented, "During the fourth quarter we continued to benefit from favorable base oil pricing conditions and we executed well in regards to used oil collection route efficiency. For the year, we are also very pleased with the improved cost performance and record base oil production at our re-refinery."
Safe Harbor Statement
All references to the “Company,” “we,” “our,” and “us” refer to
About
Conference Call
The Company will host a conference call on
The Company uses its website to make available information to investors and the public at www.crystal-clean.com.
Condensed Consolidated Balance Sheets (In Thousands) (Unaudited) |
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ASSETS |
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Current Assets: |
|
|
|
|||
Cash and cash equivalents |
$ |
56,269 |
|
|
$ |
67,575 |
Accounts receivable - net |
|
62,513 |
|
|
|
48,479 |
Inventory - net |
|
29,536 |
|
|
|
24,978 |
Assets held for sale |
|
1,125 |
|
|
|
2,446 |
Other current assets |
|
6,773 |
|
|
|
8,005 |
Total current assets |
|
156,216 |
|
|
|
151,483 |
Property, plant and equipment - net |
|
166,301 |
|
|
|
153,016 |
Right of use assets |
|
83,865 |
|
|
|
78,942 |
Equipment at customers - net |
|
24,146 |
|
|
|
23,111 |
Software and intangible assets - net |
|
45,949 |
|
|
|
19,576 |
|
|
49,695 |
|
|
|
35,541 |
Other Assets |
|
692 |
|
|
|
— |
Total assets |
$ |
526,864 |
|
|
$ |
461,669 |
|
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current liabilities: |
|
|
|
|||
Accounts payable |
$ |
36,179 |
|
|
$ |
29,663 |
Current portion of lease liabilities |
|
20,146 |
|
|
|
19,198 |
Contract liabilities - net |
|
2,094 |
|
|
|
1,983 |
Accrued salaries, wages, and benefits |
|
8,980 |
|
|
|
6,647 |
Taxes payable |
|
8,474 |
|
|
|
10,592 |
Other current liabilities |
|
9,476 |
|
|
|
4,918 |
Total current liabilities |
|
85,349 |
|
|
|
73,001 |
Lease liabilities, net of current portion |
|
65,041 |
|
|
|
60,294 |
Accrued Other- Long Term |
|
473 |
|
|
|
— |
Long-term debt, less current maturities |
|
— |
|
|
|
29,656 |
Deferred income taxes |
|
31,126 |
|
|
|
21,218 |
Contingent Consideration - Long Term |
|
2,819 |
|
|
|
— |
Total liabilities |
$ |
184,808 |
|
|
$ |
184,169 |
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STOCKHOLDERS' EQUITY: |
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Common stock - 26,000,000 shares authorized at 0.01 par value, 23,473,931 and 23,340,700 shares issued and outstanding at |
|
235 |
|
|
|
233 |
Additional paid-in capital |
|
204,920 |
|
|
|
201,148 |
Retained earnings |
|
137,067 |
|
|
|
76,119 |
Accumulated other comprehensive income (loss) |
|
(166 |
) |
|
|
— |
Total equity |
$ |
342,056 |
|
|
$ |
277,500 |
Total liabilities and stockholders' equity |
$ |
526,864 |
|
|
$ |
461,669 |
|
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Condensed Consolidated Statements of Operations (In Thousands, Except per Share Amounts) (Unaudited) |
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For the Fourth Quarters Ended, |
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For the Fiscal Years Ended, |
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Revenues |
|
|
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Service |
|
$ |
85,394 |
|
|
$ |
76,212 |
|
$ |
262,863 |
|
|
$ |
245,474 |
|
Product revenues |
|
|
76,209 |
|
|
|
48,072 |
|
|
227,737 |
|
|
|
136,178 |
|
Rental income |
|
|
7,899 |
|
|
|
7,751 |
|
|
24,734 |
|
|
|
24,299 |
|
Total revenues |
|
$ |
169,502 |
|
|
$ |
132,035 |
|
$ |
515,334 |
|
|
$ |
405,951 |
|
|
|
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Operating expenses |
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Operating costs |
|
$ |
118,212 |
|
|
$ |
98,980 |
|
$ |
352,796 |
|
|
$ |
321,648 |
|
Selling, general, and administrative expenses |
|
|
18,465 |
|
|
|
15,026 |
|
|
56,987 |
|
|
|
47,091 |
|
Depreciation and amortization |
|
|
8,373 |
|
|
|
8,205 |
|
|
23,542 |
|
|
|
24,563 |
|
Other expense (income) - net |
|
|
(317 |
) |
|
|
1,600 |
|
|
(988 |
) |
|
|
(5,365 |
) |
Operating income (loss) |
|
|
24,769 |
|
|
|
8,224 |
|
|
82,997 |
|
|
|
18,014 |
|
Interest expense – net |
|
|
226 |
|
|
|
411 |
|
|
933 |
|
|
|
1,252 |
|
Income (loss) before income taxes |
|
|
24,543 |
|
|
|
7,813 |
|
|
82,064 |
|
|
|
16,762 |
|
Provision for (benefit of) income taxes |
|
|
6,419 |
|
|
|
2,468 |
|
|
21,116 |
|
|
|
4,825 |
|
Net income (loss) |
|
$ |
18,124 |
|
|
$ |
5,345 |
|
$ |
60,948 |
|
|
$ |
11,937 |
|
|
|
|
|
|
|
|
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Net income (loss) per share: basic |
|
$ |
0.77 |
|
|
$ |
0.23 |
|
$ |
2.60 |
|
|
$ |
0.51 |
|
Net income (loss) per share: diluted |
|
$ |
0.77 |
|
|
$ |
0.23 |
|
$ |
2.59 |
|
|
$ |
0.51 |
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Number of weighted average shares outstanding: basic |
|
|
23,454 |
|
|
|
23,305 |
|
|
23,419 |
|
|
|
23,286 |
|
Number of weighted average shares outstanding: diluted |
|
|
23,578 |
|
|
|
23,474 |
|
|
23,557 |
|
|
|
23,453 |
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Condensed Consolidated Statements of Operations (In Thousands, Except per Share Amounts) (Unaudited) |
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For the Fourth Quarters Ended, |
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(thousands) |
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Environmental Services |
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Oil Business |
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Corporate and Eliminations |
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Consolidated |
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Revenues |
|
|
|
|
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|
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|
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Service revenues |
|
$ |
81,528 |
|
$ |
3,866 |
|
$ |
— |
|
|
$ |
85,394 |
|
Product revenues |
|
|
14,268 |
|
|
61,941 |
|
|
— |
|
|
|
76,209 |
|
Rental Income |
|
|
7,862 |
|
|
37 |
|
|
— |
|
|
|
7,899 |
|
Total revenues |
|
$ |
103,658 |
|
$ |
65,844 |
|
$ |
— |
|
|
$ |
169,502 |
|
Operating expenses |
|
|
|
|
|
|
|
|
||||||
Operating costs |
|
|
77,241 |
|
|
40,971 |
|
|
— |
|
|
|
118,212 |
|
Operating depreciation and amortization |
|
|
3,622 |
|
|
2,653 |
|
|
— |
|
|
|
6,275 |
|
Profit (loss) before corporate selling, general, and administrative expenses |
|
$ |
22,795 |
|
$ |
22,220 |
|
$ |
— |
|
|
$ |
45,015 |
|
Selling, general, and administrative expenses |
|
|
|
|
|
|
18,465 |
|
|
|
18,465 |
|
||
Depreciation and amortization from SG&A |
|
|
|
|
|
|
2,098 |
|
|
|
2,098 |
|
||
Total selling, general, and administrative expenses |
|
|
|
|
|
$ |
20,563 |
|
|
$ |
20,563 |
|
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Other income - net |
|
|
|
|
|
|
(317 |
) |
|
|
(317 |
) |
||
Operating income |
|
|
|
|
|
|
|
|
24,769 |
|
||||
Interest expense – net |
|
|
|
|
|
|
226 |
|
|
|
226 |
|
||
Income before income taxes |
|
|
|
|
|
|
|
$ |
24,543 |
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|
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(thousands) |
|
Environmental Services |
|
Oil Business |
|
Corporate and Eliminations |
|
Consolidated |
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|
|
|
|
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|
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|
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Revenues |
|
|
|
|
|
|
|
|
||||
Service revenues |
|
$ |
69,534 |
|
$ |
6,678 |
|
$ |
— |
|
$ |
76,212 |
Product revenues |
|
|
13,634 |
|
|
34,438 |
|
|
— |
|
|
48,072 |
Rental income |
|
|
7,733 |
|
|
18 |
|
|
— |
|
|
7,751 |
Total revenues |
|
$ |
90,901 |
|
$ |
41,134 |
|
$ |
— |
|
$ |
132,035 |
Operating expenses |
|
|
|
|
|
|
|
|
||||
Operating costs |
|
|
64,711 |
|
|
34,269 |
|
|
— |
|
|
98,980 |
Operating depreciation and amortization |
|
|
3,815 |
|
|
3,120 |
|
|
— |
|
|
6,935 |
Profit before corporate selling, general, and administrative expenses |
|
$ |
22,375 |
|
$ |
3,745 |
|
$ |
— |
|
$ |
26,120 |
Selling, general, and administrative expenses |
|
|
|
|
|
|
15,026 |
|
|
15,026 |
||
Depreciation and amortization from SG&A |
|
|
|
|
|
|
1,270 |
|
|
1,270 |
||
Total selling, general, and administrative expenses |
|
|
|
|
|
$ |
16,296 |
|
$ |
16,296 |
||
Other expense - net |
|
|
|
|
|
|
1,600 |
|
|
1,600 |
||
Operating income |
|
|
|
|
|
|
|
|
8,224 |
|||
Interest expense - net |
|
|
|
|
|
|
411 |
|
|
411 |
||
Income before income taxes |
|
|
|
|
|
|
|
$ |
7,813 |
|||
|
|
|
|
|
|
|
|
|
For the Fiscal Years Ended, |
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|
|
|
|
|
|
|
|
|
||||||
|
||||||||||||||
(thousands) |
|
Environmental Services |
|
Oil Business |
|
Corporate and Eliminations |
|
Consolidated |
||||||
|
|
|
|
|
|
|
|
|
||||||
Revenues |
|
|
|
|
|
|
|
|
||||||
Service revenues |
|
$ |
248,121 |
|
$ |
14,742 |
|
$ |
— |
|
|
$ |
262,863 |
|
Product revenues |
|
|
45,367 |
|
|
182,370 |
|
|
— |
|
|
|
227,737 |
|
Rental Income |
|
|
24,679 |
|
$ |
55 |
|
|
— |
|
|
|
24,734 |
|
Total revenues |
|
$ |
318,167 |
|
$ |
197,167 |
|
$ |
— |
|
|
$ |
515,334 |
|
Operating expenses |
|
|
|
|
|
|
|
|
||||||
Operating costs |
|
|
232,837 |
|
|
119,959 |
|
|
— |
|
|
|
352,796 |
|
Operating depreciation and amortization |
|
|
10,112 |
|
|
7,886 |
|
|
— |
|
|
|
17,998 |
|
Profit (loss) before corporate selling, general, and administrative expenses |
|
$ |
75,218 |
|
$ |
69,322 |
|
$ |
— |
|
|
$ |
144,540 |
|
Selling, general, and administrative expenses |
|
|
|
|
|
|
56,987 |
|
|
|
56,987 |
|
||
Depreciation and amortization from SG&A |
|
|
|
|
|
|
5,544 |
|
|
|
5,544 |
|
||
Total selling, general, and administrative expenses |
|
|
|
|
|
$ |
62,531 |
|
|
$ |
62,531 |
|
||
Other expense - net |
|
|
|
|
|
|
(988 |
) |
|
|
(988 |
) |
||
Operating income |
|
|
|
|
|
|
|
|
82,997 |
|
||||
Interest expense – net |
|
|
|
|
|
|
933 |
|
|
|
933 |
|
||
Income before income taxes |
|
|
|
|
|
|
|
$ |
82,064 |
|
||||
|
|
|
|
|
|
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|
|||||||||||||||
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(thousands) |
|
Environmental Services |
|
Oil Business |
|
Corporate and Eliminations |
|
Consolidated |
|||||||
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|
|
|
|
|
|
|
|
|||||||
Revenues |
|
|
|
|
|
|
|
|
|||||||
Service revenues |
|
$ |
224,123 |
|
$ |
21,351 |
|
|
$ |
— |
|
|
$ |
245,474 |
|
Product revenues |
|
|
42,253 |
|
|
93,925 |
|
|
|
— |
|
|
|
136,178 |
|
Rental income |
|
|
24,216 |
|
|
83 |
|
|
|
— |
|
|
|
24,299 |
|
Total revenues |
|
$ |
290,592 |
|
$ |
115,359 |
|
|
$ |
— |
|
|
$ |
405,951 |
|
Operating expenses |
|
|
|
|
|
|
|
|
|||||||
Operating costs |
|
|
215,602 |
|
|
106,046 |
|
|
|
— |
|
|
|
321,648 |
|
Operating depreciation and amortization |
|
|
10,863 |
|
|
9,358 |
|
|
|
— |
|
|
|
20,221 |
|
Profit (loss) before corporate selling, general, and administrative expenses |
|
$ |
64,127 |
|
$ |
(45 |
) |
|
$ |
— |
|
|
$ |
64,082 |
|
Selling, general, and administrative expenses |
|
|
|
|
|
|
47,091 |
|
|
|
47,091 |
|
|||
Depreciation and amortization from SG&A |
|
|
|
|
|
|
4,342 |
|
|
|
4,342 |
|
|||
Total selling, general, and administrative expenses |
|
|
|
|
|
$ |
51,433 |
|
|
$ |
51,433 |
|
|||
Other income - net |
|
|
|
|
|
|
(5,365 |
) |
|
|
(5,365 |
) |
|||
Operating income |
|
|
|
|
|
|
|
|
18,014 |
|
|||||
Interest expense - net |
|
|
|
|
|
|
1,252 |
|
|
|
1,252 |
|
|||
Income before income taxes |
|
|
|
|
|
|
|
$ |
16,762 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Reconciliation of our Net Income (loss) Determined in Accordance with |
|||||||||||||||
(Unaudited) |
|||||||||||||||
|
|||||||||||||||
|
|
|
For the Fourth Quarters Ended, |
|
For the Fiscal Years Ended, |
||||||||||
|
|
|
|
|
|
|
|
|
|
||||||
(thousands) |
|
|
|
|
|
|
|
|
|||||||
Net income (loss) |
|
$ |
18,124 |
|
$ |
5,345 |
|
$ |
60,948 |
|
$ |
11,937 |
|
||
|
|
|
|
|
|
|
|
|
|||||||
Interest expense - net |
|
|
226 |
|
|
411 |
|
|
933 |
|
|
1,252 |
|
||
|
|
|
|
|
|
|
|
|
|||||||
Provision for income taxes |
|
|
6,419 |
|
|
2,468 |
|
|
21,116 |
|
|
4,825 |
|
||
|
|
|
|
|
|
|
|
|
|||||||
Depreciation and amortization |
|
|
8,373 |
|
|
8,205 |
|
|
23,542 |
|
|
24,563 |
|
||
|
|
|
|
|
|
|
|
|
|||||||
EBITDA(a) |
|
$ |
33,142 |
|
$ |
16,429 |
|
$ |
106,539 |
|
$ |
42,577 |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
Impairment charges (b) |
|
|
— |
|
|
1,446 |
|
|
— |
|
|
1,446 |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
(Reversal) of provision for loss on class action settlement (c) |
|
|
— |
|
|
— |
|
|
— |
|
|
(6,502 |
) |
||
|
|
|
|
|
|
|
|
|
|
||||||
Non-cash compensation (d) |
|
|
1,780 |
|
|
848 |
|
|
5,701 |
|
|
3,197 |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
Retirement costs and severance (e) |
|
|
82 |
|
|
131 |
|
|
183 |
|
|
921 |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
Costs and asset write-offs associated with site closures (f) |
|
|
— |
|
|
38 |
|
|
— |
|
|
199 |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
Costs associated with business acquisitions (g) |
|
|
689 |
|
|
— |
|
|
1,153 |
|
|
— |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
Adjusted EBITDA (h) |
|
$ |
35,693 |
|
$ |
18,892 |
|
$ |
113,576 |
|
$ |
41,838 |
|
||
|
|
|
|
|
|
|
|
|
|
||||||
(a) |
EBITDA represents net (loss) income before provision for income taxes, interest income, interest expense, depreciation and amortization. We have presented EBITDA because we consider it an important supplemental measure of our performance and believe it is frequently used by analysts, investors, our lenders and other interested parties in the evaluation of companies in our industry. Management uses EBITDA as a measurement tool for evaluating our actual operating performance compared to budget and prior periods. Other companies in our industry may calculate EBITDA differently than we do. EBITDA is not a measure of performance under |
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|
EBITDA does not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; |
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|
|
|
|
|
|
|
|
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|
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|
EBITDA does not reflect interest expense or the cash requirements necessary to service interest or principal payments on our debt; |
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|
EBITDA does not reflect tax expense or the cash requirements necessary to pay for tax obligations; and |
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|
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|
Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA does not reflect any cash requirements for such replacements. |
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|
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|
|
|
|
|
|
|
|
|
|
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|
We compensate for these limitations by relying primarily on our |
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|
|
|
|
|
|
|
|
|
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(b) |
Impairment charges mainly associated with the intention to sell the Company's facilities in |
||||||||||||||
|
|
|
|
|
|
|
|
|
|
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(c) |
Reversal of a provision for a class action settlement and associated legal fees incurred in a prior fiscal year. |
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|
|
|
|
|
|
|
|
|
|
||||||
(d) |
Non-Cash compensation expenses which are recorded in SG&A. |
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|
|
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(e) |
Cost associated with severance and other employee separations. |
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|
|
|
|
|
|
|
|
|
||||||
(f) |
Cost associated with write-offs related to site closures. |
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|
|
|
|
|
|
|
|
|
|
||||||
(g) |
Acquisition costs associated with business acquisitions which are recorded in SG&A. |
||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||
(h) |
We have presented Adjusted EBITDA because we consider it an important supplemental measure of our performance and believe it may be used by analysts, investors, our lenders, and other interested parties in the evaluation of our performance. Other companies in our industry may calculate Adjusted EBITDA differently than we do. Adjusted EBITDA is not a measure of performance under |
Use of Non-GAAP Financial Measures |
||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||
Adjusted net earnings (loss) and adjusted net earnings (loss) per share are non-GAAP financial measures. Non-GAAP financial measures should be considered in addition to, but not as substitute for, financial measures prepared in accordance with GAAP. Management believes that adjusted net earnings (loss) and adjusted net earnings (loss) per share provide investors and management useful information about the earnings impact from certain non-routine items for the fourth quarter and full year of 2021 compared to the fourth quarter and full year of 2020. |
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|
|
|
|
|
|
|
|
|
|
|||||||||
Reconciliation of our Net Earnings (loss) and Net Earnings (loss) Per Share Determined in Accordance with |
||||||||||||||||||
(In thousands, except per share data) |
||||||||||||||||||
(Unaudited) |
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
For the Fourth Quarters Ended, |
|
For the Fiscal Years Ended, |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
GAAP net (loss) earnings |
|
|
$ |
18,124 |
|
|
$ |
5,345 |
|
|
$ |
60,948 |
|
|
$ |
11,937 |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Impairment charges (a) |
|
|
|
— |
|
|
|
1,446 |
|
|
|
— |
|
|
|
1,446 |
|
|
Tax effect on impairment charges |
|
|
|
— |
|
|
|
(194 |
) |
|
|
— |
|
|
|
(367 |
) |
|
(Reversal) of provision for loss on class action settlement (b) |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(6,502 |
) |
|
Tax effect on (settlement) reversal and associated legal fees |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Cost and asset write-offs associated with site closures (c) |
|
|
|
— |
|
|
|
38 |
|
|
|
— |
|
|
|
199 |
|
|
Tax effect on cost and asset write-offs associated with site closures |
|
|
|
— |
|
|
|
(5 |
) |
|
|
— |
|
|
|
(50 |
) |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Severance costs (d) |
|
|
|
82 |
|
|
|
131 |
|
|
|
183 |
|
|
|
921 |
|
|
Tax effect on severance costs |
|
|
|
(21 |
) |
|
|
(18 |
) |
|
|
(47 |
) |
|
|
(234 |
) |
|
Costs associated with business acquisitions (e) |
|
|
|
689 |
|
|
|
— |
|
|
|
1,153 |
|
|
|
— |
|
|
Tax effect on business acquisitions costs |
|
|
|
(180 |
) |
|
|
— |
|
|
|
(297 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
Adjusted net earnings |
|
|
$ |
18,694 |
|
|
$ |
6,743 |
|
|
$ |
61,084 |
|
|
$ |
8,999 |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
GAAP diluted earnings per share |
|
|
$ |
0.77 |
|
|
$ |
0.23 |
|
|
$ |
2.59 |
|
|
$ |
0.51 |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Impairment charges per share |
|
|
|
— |
|
|
|
0.06 |
|
|
|
|
|
0.06 |
|
|||
Tax effect on impairment charges |
|
|
|
— |
|
|
|
(0.01 |
) |
|
|
|
|
(0.02 |
) |
|||
|
|
|
|
|
|
|
|
|
|
|||||||||
(Reversal) of provision for loss on class action settlement per share |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.28 |
) |
|
Tax effect on class action settlement costs and associated legal fees per share |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
0.07 |
|
|||
|
|
|
|
|
|
|
|
— |
|
|
|
|||||||
Cost and asset write-offs associated with site closures per share |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.01 |
|
|
Tax effect on cost and asset write-offs associated with site closures per share |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Severance costs per share |
|
|
|
— |
|
|
|
0.01 |
|
|
|
0.01 |
|
|
|
0.04 |
|
|
Tax effect on severance costs per share |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Costs associated with business acquisitions per share |
|
|
|
0.03 |
|
|
|
— |
|
|
|
0.05 |
|
|
|
— |
|
|
Tax effect on business acquisitions costs per share |
|
|
|
(0.01 |
) |
|
|
— |
|
|
|
-0.01 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
Adjusted diluted earnings per share |
|
|
$ |
0.79 |
|
|
$ |
0.29 |
|
|
$ |
2.63 |
|
|
$ |
0.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
(a) Impairment charges mainly associated with the intention to sell the Company's facilities in |
||||||||||||||||||
(b) Reversal of a provision for a class action settlement and associated legal fees incurred in a prior fiscal year. |
||||||||||||||||||
(c) Cost and asset write-offs mainly associated with the closure of the Company’s facility located in |
||||||||||||||||||
(d) Cost associated with severance and other employee separations. |
||||||||||||||||||
(e) Acquisition costs associated with business acquisitions which are recorded in SG&A. |
||||||||||||||||||
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20220302006040/en/
Source:
FAQ
What were Heritage-Crystal Clean's earnings for Q4 2021?
How did Heritage-Crystal Clean's revenue perform in Q4 2021?
What is the revenue growth rate for Heritage-Crystal Clean's Oil Business segment?
What is the earnings per share for Heritage-Crystal Clean in Q4 2021?