Environmental and industrial services company Clean Harbors (NYSE: CLH) will be reporting earnings this Wednesday before market hours. Here’s what to look for.
Clean Harbors missed analysts’ revenue expectations by 3% last quarter, reporting revenues of $1.55 billion, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue 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, analysts are expecting Clean Harbors’s revenue to grow 2.9% year on year to $1.57 billion, slowing from the 12% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.39 per share.
Analysts covering the company have generally 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 Q3 results, giving us a hint as to what we can expect. Waste Connections delivered year-on-year revenue growth of 5.1%, beating analysts’ expectations by 0.5%, and Waste Management reported revenues up 14.9%, falling short of estimates by 0.9%. Waste Connections traded up 2.7% 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 3.8% on average over the last month. Clean Harbors is up 7.1% during the same time and is heading into earnings with an average analyst price target of $265.40 (compared to the current share price of $250).
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