Clean Harbors(US:CLH)2024-07-31 16:08Q2 2024 Financial Performance - Revenue reached $1.55 billion, an 11% year-over-year increase driven by organic growth and acquisitions[3] - Net income increased by 15% to $133.3 million, resulting in earnings per share (EPS) of $2.46[3] - Adjusted EBITDA increased by 14% to $327.8 million, with an Adjusted EBITDA margin of 21.1%[3] - Adjusted free cash flow was $84.2 million[3] Segment Performance - Environmental Services experienced strong demand across its disposal/recycling network and service businesses, particularly SK Environmental and Field Services, including contributions from HEPACO, with significant margin expansion due to volume growth, pricing, asset utilization, and productivity gains[3] - Safety-Kleen Sustainability Solutions saw considerable improvement in base oil and lubricant market pricing from Q1, although demand remained muted[3] - SK Environmental Services revenue was up 11%[6] - Safety-Kleen Sustainability Solutions revenue increased by 8% year-over-year to $243.2 million, while Adjusted EBITDA decreased by 4% to $51.5 million[8] Key Metrics and Capital Allocation - Incinerator utilization was 88% compared to 84% in Q2 2023, with an average price increase of 3%[6] - Landfill tonnage increased by 4% from the prior year, and the average price per ton increased by 5%[6] - The company is focused on disciplined capital allocation, including organic growth investments, acquisitions & divestitures, share repurchases, and debt repayment[9] Balance Sheet and Cash Flow - Cash and short-term marketable securities totaled $493.3 million as of June 30, 2024[10] - Current and long-term debt amounted to $2.79 billion as of June 30, 2024[10] Full-Year 2024 Guidance - The company projects net income between $391 million and $426 million[11] - Adjusted EBITDA is projected to be between $1.125 billion and $1.165 billion[11] - Adjusted free cash flow is projected to be between $350 million and $390 million[11]