Clean Harbors Revises 2024 Guidance - Update

Clean Harbors

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Clean Harbors, Inc. (CLH) revised its full-year 2024 guidance and now expects: adjusted EBITDA in the range of $1.10 billion to $1.12 billion, or a midpoint of $1.11 billion, which represents 10% growth year-over-year. This adjusted EBITDA range is based on anticipated GAAP net income in the range of $375 million to $395 million. In July, the company projected adjusted EBITDA in the range of $1.125 billion to $1.165 billion.

Q3 Results:

Net income was up 26% to $115.2 million, or $2.12 per share, compared with $91.3 million, or $1.68 per share, for the same period in 2023. Adjusted EBITDA grew 18% to $301.8 million, compared with $255.0 million in the same period of 2023. Revenues grew 12% to $1.53 billion, compared with $1.37 billion in the same period of 2023.

Shares of Clean Harbors are down 10% in pre-market trade on Wednesday.

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