Environmental and industrial services company Clean Harbors (NYSE:CLH) will be reporting results tomorrow morning. Here’s what investors should know.
Clean Harbors beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $1.55 billion, up 11.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ operating margin estimates.
Is Clean Harbors a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Clean Harbors’s revenue to grow 10.6% year on year to $1.51 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $2.18 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Clean Harbors has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Clean Harbors’s peers in the environmental and facilities services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Waste Management delivered year-on-year revenue growth of 7.9%, beating analysts’ expectations by 1.7%, and Veralto reported revenues up 4.5%, in line with consensus estimates. Veralto traded down 4.6% following the results.
Read our full analysis of Waste Management’s results here and Veralto’s results here.
Investors in the environmental and facilities services segment have had steady hands going into earnings, with share prices flat over the last month. Clean Harbors is up 6.1% during the same time and is heading into earnings with an average analyst price target of $272.59 (compared to the current share price of $256.52).
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