Clean Harbors (CLH) Assisting In Gulf Oil Spill Clean-Up, Expects 15-20% Increase In Revenues

Clean Harbors just announced that it has been selected to take part in the Deepwater Horizon spill clean up attempts. Both the government and private organizations have contracted with Clean Harbors for wide range of environmental services related to the spill, including containing, removing and disposing of the oil, as well as providing specialized equipment and containment boom. The company is also recruiting and training local people to assist with cleanup, teaching them how to do so safely.

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In a press release, James M. Rutledge, Chief Financial Officer, commented on how this will impact the company’s revenues:

“At this time, we are estimating that this event will result in an increase in second quarter 2010 revenues of 15 to 20 percent of the current First Call consensus estimate of $352.0 million. Due to the fluidity of the situation, we do not anticipate providing any further financial updates beyond this range. We will share additional information when we announce our second-quarter financial results in early August.”

The company is confident it can handle the additional demands without impacting services to its existing customers.

2 thoughts on “Clean Harbors (CLH) Assisting In Gulf Oil Spill Clean-Up, Expects 15-20% Increase In Revenues”

  1. BP and Obama are lying. To add further insult they suggest that the American public is so stupid that we can not estimate the flow of oil and are helpless in stopping it. Of course, scientist and engineers need to see video of the TOTAL damage before we can do that! How about “Transparency Now” by releasing All of the video of the leaking wellhead, preventer and pipe string. TODAY!
    We need a STOP THE Oil FLOW TASK FORCE today that is independent of BP command to stop the flow of oil tomorrow. This ecological and economic genocide should be responded to as a terrorist attack against the American people and our Democracy.

  2. They are trying as hard as they can to cap it. It is the highest priority, because it is sadly leaking 200,000 gallons a day into the water. Unfortunately cleanup cannot make a significant difference until it is capped. As an employee of Clean Harbors. I am sure that we will be in there for a few years cleaning this up.

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