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Clean Harbors has put on an impressive earnings performance in the past four quarters. The company’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average surprise of 13%.
Being a leading provider of environmental and industrial services, CLH is expected to continue benefiting from ongoing trends like increasing environmental concerns, rapid industrialization, increase in population and active government measures to reduce illegal dumping. The company’s top line increased 3.1% year over year in the first quarter of 2023.
Clean Harbors continues to make capital investments to enhance its quality and comply with government and local regulations. The current regulatory requirements are cost-intensive and complicated for in-house disposal facilities, which, in turn, compel most companies to outsource their hazardous waste disposal needs. This is where Clean Harbors steps in with its suitable disposal firms in Canada and the United States.
The company has a diversified customer base, ranging from Fortune 500 companies to midsize and small public and private entities, which provides it with stable and recurring sources of revenue. It has been chosen as an authorized vendor by large and small generators of waste as it has comprehensive waste disposal and waste tracking capabilities.
Clean Harbors has a consistent track record of share repurchases. In 2022, 2021 and 2020, the company repurchased shares worth $50.2 million, $54.4 million and $74.8 million, respectively.
Zacks Rank and Other Stocks to Consider
Clean Harbors currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the broader Business Service sector.
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched on one instance, with an average of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, which indicates a decrease of 8.2% from the year-ago figure. Earnings are pegged at $5.71 for 2023, which is 14% above the year-ago figure. VRSK currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank #2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
Broadridge (BR - Free Report) currently carries a Zacks Rank #2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on the other instance, the average being 0.5%. The Zacks Consensus Estimate for fiscal 2024 revenues and earnings indicates a rise of 7.2% and 8.8%, respectively.
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Clean Harbors (CLH) Stock Rises 25% in Six Months: Here's How
Clean Harbors, Inc. (CLH - Free Report) has had an impressive run over the past six months.
The stock has gained 24.9%, significantly outperforming the 7.8% rise of the industry it belongs to and the 15.5% rise of the Zacks S&P 500 composite.
Clean Harbors, Inc. Price
Clean Harbors, Inc. price | Clean Harbors, Inc. Quote
Reasons for the Upside
Clean Harbors has put on an impressive earnings performance in the past four quarters. The company’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an average surprise of 13%.
Being a leading provider of environmental and industrial services, CLH is expected to continue benefiting from ongoing trends like increasing environmental concerns, rapid industrialization, increase in population and active government measures to reduce illegal dumping. The company’s top line increased 3.1% year over year in the first quarter of 2023.
Clean Harbors continues to make capital investments to enhance its quality and comply with government and local regulations. The current regulatory requirements are cost-intensive and complicated for in-house disposal facilities, which, in turn, compel most companies to outsource their hazardous waste disposal needs. This is where Clean Harbors steps in with its suitable disposal firms in Canada and the United States.
The company has a diversified customer base, ranging from Fortune 500 companies to midsize and small public and private entities, which provides it with stable and recurring sources of revenue. It has been chosen as an authorized vendor by large and small generators of waste as it has comprehensive waste disposal and waste tracking capabilities.
Clean Harbors has a consistent track record of share repurchases. In 2022, 2021 and 2020, the company repurchased shares worth $50.2 million, $54.4 million and $74.8 million, respectively.
Zacks Rank and Other Stocks to Consider
Clean Harbors currently carries a Zacks Rank #2 (Buy).
Here are some other top-ranked stocks from the broader Business Service sector.
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the four previous quarters and matched on one instance, with an average of 9.9%. The consensus mark for 2023 revenues is pegged at $2.66 billion, which indicates a decrease of 8.2% from the year-ago figure. Earnings are pegged at $5.71 for 2023, which is 14% above the year-ago figure. VRSK currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank #2. The company beat the Zacks Consensus Estimate in all the trailing four quarters, the average being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
Broadridge (BR - Free Report) currently carries a Zacks Rank #2. It beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on the other instance, the average being 0.5%. The Zacks Consensus Estimate for fiscal 2024 revenues and earnings indicates a rise of 7.2% and 8.8%, respectively.