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Stock Market & Financial Investment News

News Breaks
February 26, 2014
07:36 EDTCLHClean Harbors reports Q4 EPS 44c, consensus 55c
Reports Q4 revenue $879.4M, consensus $894.41M. “Our fourth-quarter results were below expectations, as an unanticipated slowdown due to adverse weather and the timing of holidays in December affected our business after a very strong start in October,” said Alan S. McKim, Chairman and CEO. “In our Industrial and Field Services segment, this caused our lodging occupancy to be down more than 10% in the quarter. Our Technical Services segment did not see its typical seasonal uptick in the final weeks of the year. While incineration utilization was 91%, the mix was less favorable toward year-end. Within Safety-Kleen, our Oil Re-refining and Recycling segment experienced a drop-off in shipments late in the year as buyers slowed purchases to reduce inventory. In our Oil and Gas Field Services segment, this business did not generate its expected fourth-quarter ramp in activity due to cancelled programs. The combination of these factors resulted in a significant shortfall in our revenues and Adjusted EBITDA.”
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February 26, 2015
07:33 EDTCLHClean Harbors price target raised to $70 from $62 at Stifel
Stifel increased its price target on Clean Harbors after the company announced that it would spin off its oil and gas plus base-camp lodging operations,. The firm notes that its price target increase captures some of the labor savings from the company $75M fiscal 2014 cost-cutting initiative. Stifel thinks the company has a number of remaining upcoming positive catalysts and keeps a Buy rating on the shares.
February 25, 2015
07:37 EDTCLHClean Harbors sees Q1 adjusted EBITDA $83M-$90M
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07:36 EDTCLHClean Harbors backs FY15 adjusted EBITDA $530M-$570M
“Activity in the Oil Sands region remains weak, limiting opportunities and creating pricing pressure for our Lodging Services segment. Our Oil and Gas Field Services segment is experiencing margin pressure as it operates in an environment of reduced exploration budgets and significantly lower rig counts in both the U.S. and Canada. We anticipate strength in Technical Services as we continue to drive substantial volumes into our disposal network, particularly from Safety-Kleen. Within SK Environmental Services, we see organic growth opportunities, including new branch locations and cross-selling with our Field Services team. Our Industrial Services business is poised for a year of increased turnaround services to our clients and sees a solid pipeline of project activity in the U.S. Within our Oil Re-refining and Recycling segment, we will continue to address the spread compression we have experienced in that business. In addition, we are implementing additional expense reductions in areas such as procurement, branch consolidations and non-billable headcount. We expect to see our margins continue to improve in 2015,” said the company.
07:34 EDTCLHClean Harbors reports Q4 EPS 46c, consensus 32c
Reports Q4 revenue $845M, consensus $835.96M. EPS included pre-tax integration and severance costs of $500,000.

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