Announces Revenues of $893.4 Million and EPS of $0.69 Achieves 8% Increase in Adjusted EBITDA to a Record $165.6 Million on Strong Emergency Response Contribution Posts Adjusted EBITDA Margin of 18.5% Reduces 2015 Adjusted EBITDA Guidance Due to Ongoing Headwinds Initiates $100 Million Cost Reduction Program for 2016 to Align With Market Conditions NORWELL, Mass.--(BUSINESS WIRE)--Nov. 4, 2015--…, Comments on the Third Quarter, “We generated nearly $145 million in emergency response work during the third quarter,” McKim said. “This sizeable emergency response revenue produced substantial growth in our Industrial and Field Services segment, which also benefited from an increase in turnaround activity at U.S. refineries. SK Environmental Services again contributed to our growth in profitability, posting a 30% increase…, Business Outlook and Financial Guidance, “The external challenges we are facing this year may be with us for some time,” McKim said. “As a result, we are taking aggressive action to reduce our operating expenses and realign our cost structure to succeed in an environment that has been materially changed by the low price of crude oil and resulting slowdown, particularly in Western Canada. While we are not providing specific 2016 guidance…, Non-GAAP Results, Clean Harbors reports Adjusted EBITDA results, which is a non-GAAP financial measure, as a complement to results provided in accordance with accounting principles generally accepted in the United States (GAAP). The Company believes that Adjusted EBITDA provides additional useful information to investors since the Company’s loan covenants are based upon levels of Adjusted EBITDA achieved. The…, For the Three Months Ended:, , For the Nine Months Ended:, , September 30, 2015, , September 30, 2014, , September 30, 2015, , September 30, 2014, Net income (loss) $40,228 $(93,337) $43,534 $(55,705) Accretion of environmental liabilities 2,577 2,642 7,795 7,975 Depreciation and amortization 69,060 70,049 205,189 205,480 Goodwill impairment charge — 123,414 31,992 123,414 Other expense (income) 139 (613) 390 (4,136) Interest expense, net 19,017…, For the Three Months Ended:, , For the Nine Months Ended:, Adjusted income from operations, , September 30, 2015, , September 30, 2014, , September 30, 2015, , September 30, 2014, Income (loss) from operations $ 93,970 $ (42,748) $ 162,030 $ 54,273 Goodwill impairment charge — 123,414 31,992 123,414 Adjusted income from operations $ 93,970 $ 80,666 $ 194,022 $177,687, Adjusted net income, Net income (loss) $ 40,228 $(93,337) $ 43,534 $(55,705) Goodwill impairment charge, net of tax — 120,750 31,992 120,750 Adjusted net income $ 40,228 $ 27,413 $ 75,526 $ 65,045, Adjusted earnings per share, Earnings (loss) per share $ 0.69 $(1.55) $ 0.74 $(0.92) Goodwill impairment charge, net of tax — 2.00 0.54 1.99 Adjusted earnings per share $ 0.69 $ 0.45 $ 1.28 $ 1.07, Adjusted EBITDA Guidance Reconciliation, An itemized reconciliation between projected net income and projected Adjusted EBITDA is as follows: , For the Year Ending, December 31, 2015, , Amount, (In millions) Projected GAAP net income $48 to $57 Adjustments: Accretion of environmental liabilities 11 to 10 Depreciation and amortization 274 to 270 Goodwill impairment charge 32 to 32 Interest expense, net 76 to 76 Provision for income taxes 66 to 69 Projected Adjusted EBITDA $507 to $…, , Adjusted EBITDA Guidance Reconciliation, An itemized reconciliation between projected net income and projected Adjusted EBITDA is as follows:, Conference Call Information, Clean Harbors will conduct a conference call for investors today at 9:00 a.m. (ET) to discuss the information contained in this press release. On the call, management will discuss Clean Harbors’ financial results, business outlook and growth strategy. Investors who wish to listen to the webcast and view the accompanying slides should visit the Investor Relations section of the Company’s website…, About Clean Harbors, Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental, energy and industrial services. The Company serves a diverse customer base, including a majority of the Fortune 500, across the chemical, energy, manufacturing and additional markets, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end…, Safe Harbor Statement, Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans to,” “estimates,” “projects,” or similar expressions. Such statements may include, but are not…, CLEAN HARBORS, INC. AND SUBSIDIARIES, , UNAUDITED CONSOLIDATED STATEMENTS OF INCOME, , (in thousands except per share amounts), , For the Three Months Ended:, , For the Nine Months Ended:, , September 30,, 2015, , September 30,, 2014, , September 30,, 2015, , September 30,, 2014, Revenues $893,366 $851,465 $2,562,093 $2,556,612 Cost of revenues (exclusive of items shown separately below) 634,646 598,407 1,833,841 1,831,076 Selling, general and administrative expenses 93,113 99,701 321,246 334,394 Accretion of environmental liabilities 2,577 2,642 7,795 7,975 Depreciation and…, CLEAN HARBORS, INC. AND SUBSIDIARIES, UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS, (in thousands), , September 30, 2015, , December 31, 2014, Current assets: Cash and cash equivalents $ 179,191 $ 246,879 Accounts receivable, net 600,283 557,131 Unbilled accounts receivable 41,562 40,775 Deferred costs 19,096 19,018 Inventories and supplies 150,255 168,663 Prepaid expenses and other current assets 44,880 57,435 Deferred tax assets 37,288 36,532 Total current assets 1,072,555 1,…, Supplemental Segment Data (in thousands), , For the Three Months Ended:, Revenue, , September 30, 2015, , September 30, 2014, , Third Party, Revenues, , Intersegment, Revenues, (Expense), net, , Direct, Revenues, , Third Party, Revenues, , Intersegment, Revenues, (Expense), net, , Direct, Revenues, Technical Services $253,069 $ 35,325 $288,394 $ 272,478 $ 40,924 $313,402 Industrial and Field Services 307,226 (7,286) 299,940 163,582 (9,205) 154,377 Kleen Performance Products 100,827 (23,750) 77,077 140,345 (52,606) 87,739 SK Environmental Services 171,832 (5,945) 165,887 170,980 21,212 192,192 Lodging Services 13,507 773 14,280…, For the Nine Months Ended:, Revenue, , September 30, 2015, , September 30, 2014, , Third Party, Revenues, , Intersegment, Revenues, (Expense), net, , Direct, Revenues, , Third Party, Revenues, , Intersegment, Revenues, (Expense), net, , Direct, Revenues, Technical Services $741,419 $110,923 $852,342 $ 766,057 $ 119,617 $ 885,674 Industrial and Field Services 807,423 (25,400) 782,023 510,696 (31,819) 478,877 Kleen Performance Products 296,738 (63,437) 233,301 413,282 (155,588) 257,694 SK Environmental Services 508,392 (26,326) 482,066 503,692 64,418 568,110 Lodging Services 68,782 2,026…, , Non-GAAP Segment Results, Clean Harbors reports Adjusted EBITDA results, which is a non-GAAP financial measure, as a complement to results provided in accordance with accounting principles generally accepted in the United States (GAAP) and believes that such information provides additional useful information to investors since the Company’s loan covenants are based upon levels of Adjusted EBITDA achieved. The Company…, For the Three Months Ended:, , For the Nine Months Ended:, Adjusted EBITDA, , September 30, 2015, , September 30, 2014, , September 30, 2015, , September 30, 2014, Technical Services $79,048 $86,928 $219,257 $233,402 Industrial and Field Services 62,460 20,303 145,850 67,391 Kleen Performance Products 12,123 21,473 23,471 49,252 SK Environmental Services 40,096 30,853 108,540 84,985 Lodging Services 1,827 15,972 12,589 49,196 Oil and Gas Field Services 1,579 …
Type: News Article
Last updated: January 2025 Preserving your privacy and practicing transparency about how we at Clean Harbors Environmental Services, Inc. (“Clean Harbors”) use your information is critical to earning your trust. The following privacy policy (the “Policy”) is meant to inform you of our policies and procedures regarding the information we collect about you and from you during your use of our…, Information Collected, We may collect the following categories of personal information:, Identifiers, such as your name, phone number, email address, password(s), IP address, and device identifiers, Usage Information, such as logs, session data, browser and operating system, messaging details, and device identifiers, Location or Geolocation Data, such as when you use our website or app to provide precise latitudinal and longitudinal points of data to facilitate services from Clean Harbors, Inferences, (information we may infer about you from other information that we collect) We may collect personal information through various forms and in various places via the Services, including account registration forms, “contact us forms”, or when you otherwise upload data to and interact with the Services. Certain parts of Clean Harbors Services allow you to upload or submit ideas, photographs, user…, Usage Information may include: , your IP address, UDID or other unique identifier (“Device Identifier”). A Device Identifier is a number that is automatically assigned to your Device used to access the Services, and our computers identify your Device by its Device Identifier;, your Device functionality (including browser, operating system, hardware, mobile network information);, the URL that referred you to the Services;, the areas within the Services that you visit and your activities there, including remembering you and your preferences;, your Device location;, your Device characteristics; and, certain other Device data, including the time of day, among other information., Tracking Technologies. We may use various methods and technologies to store or collect Usage Information (“Tracking Technologies”). Tracking Technologies may set, change, alter or modify settings or configurations on your Device. A few of the Tracking Technologies include, without limitation, the following (and subsequent technology and methods later developed): , Cookies., A cookie is a data file placed on a Device when it is used to access or use the Services. Web Beacons. Small graphic images or other web programming code called web beacons (also known as “1x1 GIFs” or “clear GIFs”) may be included in the Services’ pages and messages. Web beacons may be invisible to you, but any electronic image or other web programming code inserted into a page or e-mail can…, Embedded Scripts., An embedded script is programming code that is designed to collect information about your interactions with the Services, such as the links you click on. The code is temporarily downloaded onto your Device from our web server or a third-party service provider, is active only while you are connected to the Services, and is deactivated or deleted thereafter. , Browser Fingerprinting., Collection and analysis of information from your Device, such as, without limitation, your operating system, plug-ins, system fonts and other data, for purposes of identification. , ETag, or Entity Tag., A feature of the cache in browsers. It is an opaque identifier assigned by a web server to a specific version of a resource found at a URL. If the resource content at that URL ever changes, a new and different ETag is assigned. Used in this manner ETags are a form of Device Identifier. ETag tracking may generate unique tracking values even where the consumer blocks certain cookies. , Recognition Technologies., Technologies, including application of statistical probability to data sets, which attempt to recognize or make assumptions about users and devices (e.g., that a user of multiple devices ins the same user). , Tracking Technologies Usage., We may use Tracking Technologies for a variety of purposes, including: , Strictly Necessary., We may use cookies or other Tracking Technologies that we consider are strictly necessary to allow you to use and access the Services, including cookies required to prevent fraudulent activity and improve security. , Performance Related., We may use cookies or other Tracking Technologies that are useful in order to assess the performance of the Services, including as part of our analytic practices or otherwise to improve the content, products or services offered through the Services., Targeting Related., We may use Tracking Technologies to deliver content relevant to your interests on the Services and third party sites based on how you interact with our content. This includes using Tracking Technologies to understand the usefulness to you of the content that has been delivered to you. , Location Tracking. , We may use technology to track your location when using the Services. Your location data is used exclusively for Services functionality but Clean Harbors may share the tracking location data with third parties. You can choose whether or not to allow the Services to collect and use real-time information about your device's location through your Device's privacy settings. If you block the use of…, Tracking Technologies Choices and Consent., We obtain your consent to our information storage or collection Tracking Technologies by providing you with transparent information in our Privacy Policy and providing you with the opportunity to make a choice to disable cookies as set forth above. Please note that we are not required to obtain your consent to the information collection Tracking Technologies identified above that are strictly…, Information Third Parties Provide About You, We may, from time to time, supplement the information we collect directly from you via the Services with outside records from third parties for various purposes, including to enhance our ability to serve you, to tailor our content to you and to offer you opportunities that may be of interest to you. To the extent we combine information we receive from those sources with your personal information…, Use of Collected Information, We use information that we collect about you or that you provide to us, including any personal information to (1) to provide you with information or process transactions that you have requested or agreed to receive, including job inquiries, or for providing general information about our services in response to a request submitted online; (2) to provide you with information via email or in-app…, Disclosure of Information, We will not share your personal information with third parties for direct marketing purposes. We may, however, share non-personal information, such as aggregated user statistics and browsing behavior information, with third parties. We may share the information we have collected, including personal information, as disclosed at the time you provide the information and as described below or…, Your Privacy Rights, You as a user of Clean Harbors’ services have choices related to your personal information that we collect, and these rights have different names under different laws. Your rights include the following: (1) access to your personal information, (2) correcting inaccurate information, (3) requesting we delete any of your personal information, and (4) opting out of sales, sharing, and targeted…, Data Security & Storage , We have implemented measures designed to protect your personal information from loss, unauthorized access, and alteration. We endeavor to protect the privacy of your account and other personal information we hold in our records by actively working to prevent unauthorized entry or use, hardware or software failure, and other occurrences that could potentially compromise security and integrity of…, Age of Users , If you are younger than 13, you may not download or use any mobile apps provided by Clean Harbors or access or provide any content. If you are a parent of a user who is 13 or older but under the age of 18, you are fully responsible for his or her use of the Services. We are a general audience service and do not use the Services to knowingly collect personal information from children under the…, Changes to the Policy, It is our policy to publish any changes we make to our privacy policy on this page. If we make material changes to how we treat our users’ personal information, we will notify you by email to the primary email address specified in your account or through a notice on the website or app home page. The date of the privacy policy’s most recent update is identified at the beginning of this policy. You…, State Privacy Rights , State consumer privacy laws may provide their residents with additional rights regarding our use of their personal information. Many states, including California, Colorado, Connecticut, Delaware, Florida, Indiana, Iowa, Montana, Oregon, Tennessee, Texas, Utah, and Virginia provide (now or in the future) provide their state residents with rights to: Confirm whether we process their personal…, Contact Information, For any inquiries about this privacy policy and our privacy practices, contact us at iOSSupport@cleanharbors.com .
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