We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Clean Harbors (CLH) Q2 Earnings & Revenues Beat, View Up
Read MoreHide Full Article
Clean Harbors, Inc.(CLH - Free Report) reported solid second-quarter 2021 results wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of $1.19 outpaced the Zacks Consensus Estimate by 52.6% and increased more than 100% year over year. Total revenues of $926.45 million beat the consensus mark by 9.6% and grew 30.5% year over year due to the unprecedented market conditions.
Quarterly results benefited from a steady flow of high-value waste streams into the company’s disposal network, solid performance of Safety-Kleen Sustainability Solutions business and demand for service offerings.
So far this year, shares of Clean Harbors have gained 30%, outperforming the 8% surge of the industry it belongs to.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail.
Revenues by Segment
Environmental Services revenues of $724.09 million grew 18.2% year over year. The uptick was backed by growth in disposal and recycling volumes, surge in Industrial Services activity, demand for incineration network and improvement in landfill business.
Safety-Kleen Sustainability Solutions revenues of $202.28 million grew more than 100% year over year. The uptick was backed by the combination of the company’s waste oil collection with its Safety-Kleen Oil business.
Profitability Performance
Adjusted EBITDA of $187.77 million increased 36% year over year. Adjusted EBITDA margin increased 80 basis points (bps) year over year to 20.3%.
Segment wise, Environmental Services’ adjusted EBITDA was $176.04 million, down 0.1% year over year. Safety-Kleen Sustainability Solutions’ adjusted EBITDA was $63.31 million, up more than 100% year over year.
Clean Harbors, Inc. Price, Consensus and EPS Surprise
Clean Harbors exited second-quarter 2021 with cash and cash equivalents of $595.57 million compared with $496.38 million at the end of the prior quarter. Inventories and supplies were $215.73 million compared with $219.49 million in the prior quarter. Long-term debt of $1.55 billion was flat sequentially.
The company generated $162.43 million in net cash from operating activities in the reported quarter. Adjusted free cash flow was $114.63 million.
Guidance
Clean Harbors has raised its guidance for the full year. Adjusted EBITDA is now anticipated between $620 million and $650 million compared with the prior-guided range of $560-$600 million. Net income is now anticipated between $159 million and $193 million, compared with the prior-guided range of $116-$157 million.
Adjusted free cash flow is now expected between $285 million and $315 million, compared with the prior-guided range of $230-$270 million. Net cash from operating activities is now projected between $475 million and $525 million compared with the prior-guided range of $415-$475 million.
Equifax’s (EFX - Free Report) second-quarter 2021 adjusted earnings of $1.98 per share beat the Zacks Consensus Estimate by 15.8% and improved on a year-over-year basis. Revenues of $1.23 billion outpaced the consensus estimate by 6.4% and improved 26% year over year on a reported basis and 23% on a local-currency basis.
Robert Half’s (RHI - Free Report) second-quarter 2021 earnings of $1.33 per share beat the consensus mark by 26.7% and were up more than 100% year over year. Revenues of $1.6 billion surpassed the consensus mark by 6.5% and increased 42.3% year over year on a reported basis and 40% on an adjusted basis.
ManpowerGroup’s (MAN - Free Report) second-quarter 2021 adjusted earnings of $2.02 per share beat the consensus mark by 68.2% and improved more than 100% year over year. Revenues of $5.28 billion beat the consensus mark by 2% and increased 41% year over year on a reported basis and 31.3% on a constant-currency (cc) basis.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Clean Harbors (CLH) Q2 Earnings & Revenues Beat, View Up
Clean Harbors, Inc.(CLH - Free Report) reported solid second-quarter 2021 results wherein earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of $1.19 outpaced the Zacks Consensus Estimate by 52.6% and increased more than 100% year over year. Total revenues of $926.45 million beat the consensus mark by 9.6% and grew 30.5% year over year due to the unprecedented market conditions.
Quarterly results benefited from a steady flow of high-value waste streams into the company’s disposal network, solid performance of Safety-Kleen Sustainability Solutions business and demand for service offerings.
So far this year, shares of Clean Harbors have gained 30%, outperforming the 8% surge of the industry it belongs to.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail.
Revenues by Segment
Environmental Services revenues of $724.09 million grew 18.2% year over year. The uptick was backed by growth in disposal and recycling volumes, surge in Industrial Services activity, demand for incineration network and improvement in landfill business.
Safety-Kleen Sustainability Solutions revenues of $202.28 million grew more than 100% year over year. The uptick was backed by the combination of the company’s waste oil collection with its Safety-Kleen Oil business.
Profitability Performance
Adjusted EBITDA of $187.77 million increased 36% year over year. Adjusted EBITDA margin increased 80 basis points (bps) year over year to 20.3%.
Segment wise, Environmental Services’ adjusted EBITDA was $176.04 million, down 0.1% year over year. Safety-Kleen Sustainability Solutions’ adjusted EBITDA was $63.31 million, up more than 100% year over year.
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 second-quarter 2021 with cash and cash equivalents of $595.57 million compared with $496.38 million at the end of the prior quarter. Inventories and supplies were $215.73 million compared with $219.49 million in the prior quarter. Long-term debt of $1.55 billion was flat sequentially.
The company generated $162.43 million in net cash from operating activities in the reported quarter. Adjusted free cash flow was $114.63 million.
Guidance
Clean Harbors has raised its guidance for the full year. Adjusted EBITDA is now anticipated between $620 million and $650 million compared with the prior-guided range of $560-$600 million. Net income is now anticipated between $159 million and $193 million, compared with the prior-guided range of $116-$157 million.
Adjusted free cash flow is now expected between $285 million and $315 million, compared with the prior-guided range of $230-$270 million. Net cash from operating activities is now projected between $475 million and $525 million compared with the prior-guided range of $415-$475 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
Equifax’s (EFX - Free Report) second-quarter 2021 adjusted earnings of $1.98 per share beat the Zacks Consensus Estimate by 15.8% and improved on a year-over-year basis. Revenues of $1.23 billion outpaced the consensus estimate by 6.4% and improved 26% year over year on a reported basis and 23% on a local-currency basis.
Robert Half’s (RHI - Free Report) second-quarter 2021 earnings of $1.33 per share beat the consensus mark by 26.7% and were up more than 100% year over year. Revenues of $1.6 billion surpassed the consensus mark by 6.5% and increased 42.3% year over year on a reported basis and 40% on an adjusted basis.
ManpowerGroup’s (MAN - Free Report) second-quarter 2021 adjusted earnings of $2.02 per share beat the consensus mark by 68.2% and improved more than 100% year over year. Revenues of $5.28 billion beat the consensus mark by 2% and increased 41% year over year on a reported basis and 31.3% on a constant-currency (cc) basis.