Clean Harbors Might Still See Further Weakening
Alpha Gen Capital
Alpha Gen Capital
Clean Harbors Is Making All The Right Moves
Alpha Gen Capital
Alpha Gen Capital
Tue, Aug. 9, 3:59 PM
- US Ecology (ECOL -5.3%) is downgraded to Underweight from Equal Weight with a $40 price target, cut from $48, at Barclays, which says municipal solid waste names are relatively expensive on historical measures at 22x estimated 2017 adjusted P/E.
- Barclays believes the municipal solid waste space is benefiting from strong industry fundamentals and investors' hunt for reliable yield, and continues to recommend new top pick Waste Connections (WCN +1.2%), Waste Management (WM +0.3%) and Republic Services (RSG +0.3%).
- But the firm says it is incrementally more cautious on specialty waste names such as ECOL and Clean Harbors (CLH -0.6%), given downside risk to H2 earnings due to project delays.
Wed, Aug. 3, 8:03 AM
- Adjusted net income of $8.4M, or $0.15 per share vs. a loss of $42.3M, or $0.72 in the same quarter a year ago.
- Adjusted EBITDA decreased 32% to $110.4M from $163.1M in the same period of 2015.
- During the quarter, the firm worked on completing a series of six acquisitions totaling approximately $175M to expand its geographic footprint and capabilities.
- The company also narrowed its 2016 Adjusted EBITDA guidance range to $430M-$450M (from $430M-$490M).
- Q2 results
Wed, Aug. 3, 7:34 AM
Tue, Aug. 2, 5:30 PM
- AAWW, AFAM, ALE, APO, ARCC, ARCO, ARQL, ATHM, ATRO, AVA, CDK, CDW, CEVA, CLDT, CLH, CLX, CRL, CROX, CRTO, CSTE, CWEI, D, DDD, DIN, DLPH, DM, DNOW, DOC, EE, ENR, FCPT, FUN, GEL, HFC, HUM, HYH, ICE, ING, INSY, INXN, IRT, KATE, KLIC, LINC, LMOS, MDC, MEMP, MFA, MTOR, NBL, NSM, NVMI, ODP, ORBK, OXY, PERI, POR, RRD, SBGI, SC, SCMP, SE, SHOP, SMG, SMP, SPR, SR, SUM, TMHC, TWX, USAK, VER, VIRT, VOYA, VSI, WD, XEL, ZTS
Wed, May 18, 12:55 PM
- Clean Harbors (CLH +1.5%) is initiated with an Overweight rating and $58 price target at Barclays, which expects Q2 to mark the trough in Y/Y earnings growth.
- The firm estimates that 25% of CLH's business is tied to crude oil prices including field services, lodging and oil recycling, and it expects these businesses to experience a lagged recovery on higher oil prices.
- Barclays says CLH's cyclical upside is supported by its highly regulated core hazardous waste incineration business, which the firm expects to contribute nearly 50% of 2016 EBITDA, providing a stable, non-oil related and recurring earnings stream.
- The firm also initiates US Ecology (ECOL +2.3%) with an Equal Weight rating and $48 price target, saying ECOL's unique asset base of hazardous waste landfills provides a foundation for long-term reliable earnings but shares are now fairly valued after recent appreciation.
Wed, May 4, 8:36 AM
- Adjusted net loss of $12.9M, or -$0.22 per share vs. a loss of $7M, or -$0.12 in the same quarter a year ago.
- Adjusted EBITDA decreased 14% to $67.3M from $78.3M in the same period of 2014.
- The company reaffirmed its 2016 Adjusted EBITDA guidance in the range of $430M-$490M.
- Q1 results
Wed, May 4, 7:31 AM
Tue, May 3, 5:30 PM
- AFAM, ARCC, ARCO, ARQL, ASC, ATRO, AVA, AYR, BDC, BUD, CDW, CHH, CLH, CPK, CRK, CRL, CRTO, CRZO, CSTE, D, DLPH, DNOW, ECYT, EE, ENR, FUN, GEL, GNRC, GTE, HAIN, HE, HFC, HSC, HSNI, HTWR, HYH, ICE, INXN, IONS, IRT, KATE, KLIC, LGND, MEMP, MFA, MMP, MOS, MPW, MTOR, NBL, NGS, NJR, NRZ, NVMI, NXTM, OMF, ONCE, ORBK, PCG, PCLN, RDC, RDS.A, SBGI, SCMP, SE, SERV, SHOP, SMP, SPAR, SR, SRE, SSTK, STRA, TGH, TGI, TMHC, TREE, TWX, VIRT, VOYA, VSI, WD, WIX, ZTS
Mon, Mar. 14, 10:06 AM
- Clean Harbors (CLH -0.6%) is planning to commence an add-on offering of $200M aggregate principal amount of 5.125% Senior Notes due 2021.
- The notes will be issued under the indenture pursuant to which the company previously issued $600M aggregate principal amount of 5.125% Senior Notes due 2021. $595M aggregate principal amount of which remain outstanding.
- Clean Harbors intends to use the net proceeds from the offering of the notes for potential future acquisitions and general corporate purposes.
Wed, Feb. 24, 8:13 AM
- Adjusted net income of $0.6M, or $0.01 per share vs. $27.4M, or $0.46 in the same quarter a year ago.
- Adjusted EBITDA decreased 26% to $97.2M from $130.8M in the same period of 2014.
- Outlook for 2016: The company expects adjusted EBITDA guidance of $430M-$490M.
- Q4 results
Wed, Feb. 24, 7:33 AM
- Clean Harbors (NYSE:CLH): Q4 EPS of $0.01 may not be comparable to consensus of $0.12.
- Revenue of $713M (-15.6% Y/Y) misses by $23.48M.
Tue, Feb. 23, 5:30 PM
Wed, Feb. 3, 2:10 PM
- Vertex Energy (VTNR +55%) soars following this morning's news that it sold its Nevada re-refinery facility to Clean Harbors (CLH +1.3%) for $35M.
- VTNR says the swap agreement and base oil agreements that were entered into as part of the sale should allow it to improve logistic costs and provide a long-term off-take agreement for base oil and finished lubricants.
- VTNR says it is using $16M of the sale proceeds to pay down and service its debt, lowering the amount owed to ~$7M and total long-term debt to ~$14M.
Wed, Jan. 6, 8:54 AM
Dec. 22, 2015, 10:23 AM
- Clean Harbors' (CLH) Safety-Kleen subsidiary is revising pricing related to managing used engine and industrial oils.
- "The continuing rapid decline in crude oil indices and base oil pricing...are decreasing the values of our re-refined products and byproducts, as well as our recycled fuel oil," said Kevin Hayden, Executive Vice President.
- Effective immediately, Safety-Kleen will be targeting an increase of $80 per stop with all customers across its used oil customer base.
Nov. 4, 2015, 8:01 AM
- Adjusted net income of $40.2M, or $0.69 per share vs. $27.4M, or -$1.55 in the same quarter a year ago.
- Adjusted EBITDA increased 8% to a record $165.6M from $153.4M in the same period of 2014. Adjusted EBITDA margin rose 50 bps to 18.5%, compared with 18.0% the year before.
- Due to ongoing headwinds, the company is revising its 2015 adjusted EBITDA guidance range to $507M-$514M, compared with previous guidance of $530M-$570M.
- CLH -5.3% premarket
- Q3 results