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Clean Harbors (CLH) Q4 Earnings & Revenues Beat Mark, Up Y/Y

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·4 min read
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Clean Harbors, Inc.CLH reported solid fourth-quarter 2021 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.

Adjusted earnings per share of 89 cents outpaced the Zacks Consensus Estimate as well as the year-ago quarter's figure by 41.3%. Total revenues of $1.12 billion beat the consensus mark by 9.2% and grew 41% year over year.

Over the past year, shares of Clean Harbors have gained 4.5% against 14.5% decline of the industry it belongs to.

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Zacks Investment Research


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Let’s check out the numbers in detail.

Revenues by Segment

Environmental Services’ revenues of $908.12 million grew 36% year over year. The uptick was backed by contributions from the HydroChemPSC acquisition, solid demand for the company’s disposal and recycling services, and strength across its Industrial Services and Field Services businesses.

Safety-Kleen Sustainability Solutions’ revenues of $211.28 million grew 64% year over year. The uptick was backed by solid demand for the company’s base and blended oil, which led to a healthy pricing environment.

Profitability Performance

Adjusted EBITDA of $174.3 million increased 23% year over year. The adjusted EBITDA margin fell to 15.6% from 17.8% in the year-ago quarter.

Segment-wise, Environmental Services’ adjusted EBITDA was $176.95 million, up 8% year over year. Safety-Kleen Sustainability Solutions’ adjusted EBITDA was $61.59 million, up more than 100% year over year.

Clean Harbors, Inc. Price, Consensus and EPS Surprise

Clean Harbors, Inc. Price, Consensus and EPS Surprise
Clean Harbors, Inc. Price, Consensus and EPS Surprise

Clean Harbors, Inc. price-consensus-eps-surprise-chart | Clean Harbors, Inc. Quote

Balance Sheet & Cash Flow

Clean Harbors exited fourth-quarter 2021 with cash and cash equivalents of $452.58 million compared with $646.66 million at the end of the prior quarter. Inventories and supplies were $250.69 million compared with $228.68 million in the prior quarter. Long-term debt was $2.52 billion compared with $1.55 billion at the end of the prior quarter.

The company generated $177.8 million in net cash from operating activities in the reported quarter. Adjusted free cash flow was $88.3 million.

Guidance

Clean Harbors has unveiled its guidance for 2022. Adjusted EBITDA is anticipated between $765 million and $795 million. Net income is expected between $204 million and $237 million. Adjusted free cash flow is expected between $250 million and $290 million. Net cash from operating activities is projected to be between $560 million and $620 million.

Currently, Clean Harbors carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Business Services Companies

Robert Half International RHI delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.

Robert Half’s quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year.

Robert Half’s revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.

Automatic Data Processing ADP reported better-than-expected second-quarter fiscal 2022 results.

ADP’s adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.

ADP’s total revenues of $4.03 billion beat the consensus mark by 1.1% and improved 9% year over year on a reported basis as well as on an organic constant-currency basis.

Rollins ROL reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same.

Rollins’ adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.

Rollins’ revenues of $600.3 million beat the consensus mark by 3.3% and improved 11.9% year over year.


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