Clean Harbors(US:CLH)2021-05-10 17:03Q1 2021 Performance Summary - Revenue reached $808.1 million, a 6% year-over-year decrease, but exceeded expectations and showed sequential growth from Q4[5] - GAAP EPS was $0.39, and Adjusted EPS was $0.42[5] - Adjusted EBITDA increased to $129.5 million, including $5.4 million from government pandemic relief programs, with the Adjusted EBITDA margin climbing 130 bps to 160%[5] - Adjusted free cash flow was $62.3 million, a significant increase compared to ($26.2) million in Q1 2020[5] Segment Performance - Environmental Services segment benefited from high-value waste streams and service business recovery, supported by productivity, cost, and pricing measures[5] - Safety-Kleen Sustainability Solutions segment reported flat year-over-year revenue but strong profitability due to ongoing pricing gains driven by market conditions[5] - Safety-Kleen Sustainability Solutions revenue was $153.5 million, a 0% change year-over-year, with Adjusted EBITDA increasing by 31% to $31.6 million[10] - Corporate segment expenses decreased year-over-year due to lower marketing and travel spend, offsetting higher healthcare and incentive compensation[5] Key Metrics and Capital Allocation - Incinerator utilization was 80% compared to 86% in Q1 2020, but average price increased by 8% due to strong volumes of high-value streams[8] - Landfill tonnage decreased by 29% year-over-year due to lower project volumes, but the average price per ton increased by 24% based on mix[8] - The company's capital allocation strategy focuses on organic growth investments, acquisitions and divestitures, share repurchases, and debt repayment[12] Full-Year 2021 Guidance - The company projects full-year 2021 net income to range from $116 million to $157 million[16] - The company projects full-year 2021 Adjusted EBITDA to range from $560 million to $600 million[16] - The company projects full-year 2021 Net Cash from Operating Activities to range from $415 million to $475 million[16] - The company projects full-year 2021 Adjusted Free Cash Flow to range from $230 million to $270 million[16]