Environmental and industrial services company Clean Harbors (NYSE:CLH) will be announcing earnings results this Wednesday before market open. Here’s what investors should know.
Clean Harbors met analysts’ revenue expectations last quarter, reporting revenues of $1.43 billion, up 4% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ organic revenue estimates but a miss of analysts’ adjusted operating income 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 2.9% year on year to $1.60 billion, slowing from the 11.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.38 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 four times over the last two years.
Looking at Clean Harbors’s peers in the environmental and facilities services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Waste Connections delivered year-on-year revenue growth of 7.1%, beating analysts’ expectations by 0.7%, and Waste Management reported revenues up 19%, topping estimates by 1.1%. Waste Connections traded up 2.2% following the results.
Read our full analysis of Waste Connections’s results here and Waste Management’s results here.
There has been positive sentiment among investors in the environmental and facilities services segment, with share prices up 6.5% on average over the last month. Clean Harbors is up 1.3% during the same time and is heading into earnings with an average analyst price target of $255.10 (compared to the current share price of $234.08).
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