Clean Harbors, Inc. (CLH,CLHB), a provider of environmental, energy, and industrial services, Wednesday reported a decline in net income for the first quarter, reflecting certain non-recurring costs. The company also lowered its full-year revenue guidance.
The company reported net income of $10.5 million or $0.17 per share including the acquisition, integration and severance costs, compared with $32.0 million or $0.60 per share during the same period last year.
Adjusted EBITDA increased 10 percent to $111.2 million, compared with $100.9 million during the corresponding quarter prior year.
On average, twelve analysts polled by Thomson Reuters expected earnings per share of $0.33 for the quarter. Analysts' estimates typically exclude one-time items.
For the three-month period, the firm generated revenues of $862.2 million, a 51 percent increase from the prior year's figure of $572.0 million. Analyst expected the company to report revenues of $892.79 million for the quarter.
The company currently expects full year revenues in the range of $3.62 billion to $3.67 billion, compared with its previous revenue guidance of $3.72 billion to $3.77 billion, and adjusted EBITDA in the range of $605 million to $620 million.
Analysts estimate the company to generate revenues of $3.72 billion for the year.
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