Earnings release
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CleanHarbors Press Release Clean Harbors Announces Third - Quarter 2021 Financial Results • Reports 22 % Increase in Q3 Revenues to $ 951.5 Million • Delivers Q3 Net Income of $ 65.4 Million , or EPS of $ 1.20 , with Adjusted EPS of $ 1.14 • Achieves 10 % Growth in Q3 Adjusted EBITDA to $ 185.1 Million With Margin of 19.5 % • Raises Full - Year 2021 Adjusted EBITDA and Adjusted Free Cash Flow Guidance EXHIBIT 99.1 NORWELL , Mass . - November 3 , 2021 - Clean Harbors , Inc. ( " Clean Harbors " ) ( NYSE : CLH ) , the leading provider of environmental and industrial services throughout North America , today announced financial results for the third quarter ended September 30 , 2021 . " In the quarter , we experienced a continuation of many of the favorable trends that have supported our business all year – substantial volumes of high - value waste streams for disposal , a wider than normal spread in the re - refining market and steadily growing demand for many of our service businesses , ” said Alan S. McKim , Chairman , President and Chief Executive Officer . “ These factors enabled us to exceed our guidance and deliver the highest quarterly revenue in Company history . In a market environment disrupted by supply chain bottlenecks , labor shortages and inflationary cost pressures , our financial results reflect the strong execution by our leadership team in managing through challenging conditions . ” Third - Quarter 2021 Results Revenues increased 22 % to $ 951.5 million from $ 779.3 million in the same period of 2020. Income from operations grew 25 % to $ 104.8 million from $ 83.9 million in the third quarter of 2020 . Net income was $ 65.4 million , or $ 1.20 per diluted share . This compares with net income of $ 54.9 million , or $ 0.99 per diluted share , for the same period in 2020. Adjusted for certain items in both periods , adjusted net income was $ 62.2 million , or $ 1.14 per diluted share , for the third quarter of 2021 , compared with adjusted net income of $ 49.9 million , or $ 0.90 per diluted share , in the same period of 2020. ( See reconciliation tables below ) Net income and adjusted net income results for the third quarter of 2021 included pre - tax integration and severance costs of $ 6.2 million , primarily related to the acquisition of HydroChemPSC . Comparable costs in the third quarter of 2020 were $ 1.8 million . Adjusted EBITDA ( see description below ) increased 10 % to $ 185.1 million from $ 167.8 million in the same period of 2020. Benefits from Canadian pandemic programs accounted for $ 1.1 million of contributions in the third quarter of 2021 , compared with $ 13.3 million in benefits from both Canadian and U.S. government programs in the same period of 2020 . Clean Harbors • 42 Longwater Drive • PO Box 9149 • Norwell , Massachusetts 02061-9149 • 800.282.0058 • www.cleanharbors.com