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Heritage-Crystal Clean beats 1Q profit forecasts

ELGIN, Ill. (AP) _ Heritage-Crystal Clean Inc. (HCCI) on Monday reported first-quarter net income of $4.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Elgin, Illinois-based company said it had net income of 21 cents. Earnings, adjusted for non-recurring gains, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The cleaning and waste-management company posted revenue of $80.5 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $83.1 million.

Heritage-Crystal Clean shares have risen 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.85, a rise of 52 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HCCI at https://www.zacks.com/ap/HCCI

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Keywords: Heritage-Crystal Clean, Earnings Report