Clean Harbors (CLH) Tops Q2 Earnings and Revenue Estimates

Core Viewpoint - Clean Harbors (CLH) reported quarterly earnings of $2.46 per share, exceeding the Zacks Consensus Estimate of $2.21 per share, and showing an increase from $2.13 per share a year ago [1] Financial Performance - The company achieved revenues of $1.55 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.99%, compared to $1.4 billion in the same quarter last year [8] - Clean Harbors has surpassed consensus EPS estimates three times over the last four quarters [2] - The quarterly report represented an earnings surprise of 11.31%, with a previous expectation of $1.16 per share compared to the actual earnings of $1.29 per share [7] Future Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $2.15 on revenues of $1.5 billion, and for the current fiscal year, it is $7.47 on revenues of $5.92 billion [5] - The estimate revisions trend for Clean Harbors is favorable, contributing to a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [9] Industry Context - Clean Harbors operates within the Zacks Waste Removal Services industry, which is currently ranked in the top 37% of over 250 Zacks industries [13] - The company has outperformed the market with a 28.6% increase in shares since the beginning of the year, compared to a 14% gain for the S&P 500 [11]