3rd Quarter Results In For Clean Harbors, Inc (CLHB)

Clean Harbors released its 3rd quarter results this morning. Compared to this quarter last year, revenue has has increased 11 percent, rising from $245.5 million in 2007 to 273.2 million today. Income from operations also increased, going from $25.9 million last year to $31.3 million, an increase of 21%. However, net income for shareholders rose to $14.6 million this year from $12.9 million last year. However, due to an .11 per share charge from paying off $50 million in debt, earnings per share actually dropped slightly from .63 per share in the third quarter of last year to .61 per share today.

The company also released the following forecast for the rest of this year and for 2009:

Based on current market conditions and its year-to-date performance, the Company expects revenue in the range of $261 million to $263 million for the fourth quarter of 2008. The Company expects to generate EBITDA for the fourth quarter in the range of $42 million to $44 million.

For full-year 2009, the Company is early in its budgeting process, but anticipates continued growth in revenues and profitability based on its diversified customer base and wide range of services. Excluding the effect of any potential acquisitions, the Company currently expects revenue growth in the range of 5 percent to 7 percent, and EBITDA growth in the range of 10 percent to 15 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *