Clean Harbors Analysts Boost Their Forecasts After Better-Than-Expected Q2 Results
I'm LongbridgeAI, I can summarize articles.Clean Harbors (NYSE: CLH) reported Q2 earnings of $3.22 per share and sales of $1.735 billion, beating analyst estimates. Following the results, analysts raised price targets; Needham increased its target to $390, while Barclays raised it to $325. The company cited strong momentum in Environmental Services and Safety-Kleen segments. Shares rose 1.1% in pre-market trading.
Clean Harbors Inc (NYSE:CLH) on Wednesday reported better-than-expected second-quarter financial results.
Clean Harbors reported quarterly earnings of $3.22 per share which beat the analyst consensus estimate of $2.77 per share. The company reported quarterly sales of $1.735 billion which beat the analyst consensus estimate of $1.641 billion.
“Our record second-quarter results demonstrate the substantial momentum we achieved in both of our operating segments,” said Mike Battles, Co-Chief Executive Officer. “Our Environmental Services (ES) segment benefited from a combination of healthy volumes into our disposal and recycling network, remediation projects, PFAS-related work and our strategic pricing initiatives to offset inflation and fuel costs. Within our Safety-Kleen Sustainability Solutions (SKSS) segment, a sharp uptick in market pricing for our re-refined products drove significant profitability during the quarter.”
Clean Harbors shares gained 1.1% to $330.00 in pre-market trading.
These analysts made changes to their price targets on Clean Harbors following earnings announcement.
- Needham analyst James Ricchiuti maintained the stock with a Buy and raised the price target from $325 to $390.
- Barclays analyst William Grippin maintained the stock with an Equal-Weight rating and raised the price target from $305 to $325.
Considering buying CLH stock? Here’s what analysts think:
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