Environmental and industrial services company Clean Harbors (NYSE: CLH) will be reporting results this Wednesday before the bell. Here’s what to expect.
Clean Harbors beat analysts’ revenue expectations last quarter, reporting revenues of $1.5 billion, up 4.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue and EPS estimates.
Is Clean Harbors a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Clean Harbors’s revenue to grow 2.7% year on year, slowing from the 4% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Clean Harbors’s peers in the waste management segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Waste Connections delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 0.8%, and Casella Waste Systems reported revenues up 9.6%, topping estimates by 0.5%. Waste Connections traded up 7.9% following the results while Casella Waste Systems was also up 9.6%.
Read our full analysis of Waste Connections’s results here and Casella Waste Systems’s results here.
There has been positive sentiment among investors in the waste management segment, with share prices up 7.6% on average over the last month. Clean Harbors is up 3.6% during the same time and is heading into earnings with an average analyst price target of $318 (compared to the current share price of $310.44).
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