Clean Harbors, Inc. (NYSE: CLH) shares declined sharply Wednesday, as the leading provider of environmental and industrial services throughout North America announced financial results for the fourth quarter and year ended December 31, 2024.
“Our fourth-quarter results were in line with our expectations as our Environmental Services (ES) segment capped a record 2024 with a robust performance, including the 11th consecutive quarter of year-over-year margin growth,” said Mike Battles, Co-Chief Executive Officer.
“The segment benefited from steady demand, strong waste collection volumes, a healthy flow of project work and favorable pricing. For the full year the segment saw 11% top-line growth and annual Adjusted EBITDA margin exceeded 25%. We maintained a strong focus on safety and continuous improvement in the quarter, which contributed to a Total Recordable Incident Rate (TRIR) that enabled us to surpass our 2024 goal.”
Fourth-quarter revenues grew 7% to $1.43 billion, compared with $1.34 billion in the same period of 2023. Income from operations was $137.0 million, compared with $147.3 million in the fourth quarter of 2023.
Net income was $84.0 million, or $1.55 per diluted share, compared with $98.3 million, or $1.81 per diluted share, for the same period in 2023.
Adjusted EBITDA was $257.2 million, compared with $254.9 million in the same period of 2023.
CLH shares tumbled $13.38, or 5.9%, to $213.19.
