DAILY NEWS May 12, 2014 12:24 PM - 0 comments

Clean Harbors dips in Q1 2014

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By: SWR Staff

Solid and hazardous waste management firm Clean Harbors Inc. reported lower net earnings and revenue for its first quarter of 2014, acknowledging the hardships of severe winter weather.

Revenues for the first quarter of 2014 were $846.7 million compared with $862.2 million during the same period in 2013. Income from operations in the first quarter of 2014 was $29.9 million compared with $34.8 million in the same period of 2013.

Adjusted in the first quarter of 2014 was $102.0 million compared with $111.2 million in the same period of 2013.

“We ended the first quarter with a strong finish, exceeding our revenue guidance and reporting Adjusted EBITDA in line with our expectations,” said Alan McKim, Clean Harbors chairman and CEO.

“Adverse weather affected our business in the first two months of the quarter, but conditions began to normalize and we achieved improved results in many of our lines of business. Within our segments, we saw Technical Services deliver another solid quarter, achieving year-over-year growth as incineration utilization reached 91% and landfill volumes grew 25 per cent on increased project work,” added McKim.

For the complete Q1 report, please click here.

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