Clean Harbors Slips 8% Despite Upbeat Results

(RTTNews) - Shares of environmental and industrial services provider Clean Harbors, Inc. (CLH) are falling more than 8% Wednesday morning despite upbeat quarterly results.

Net income was $72.4 million, or $1.33 per share, higher than $45.3 million, or $0.83 per share, for the same period last year.

Excluding one-time items, the company posted earnings of $74.1 million, or $1.36 per share, beating the consensus estimate of analysts polled by Thomson-Reuters of $1.17 per share.

Revenues increased 12% to $1.307 billion from $1.169 billion in the same period of 2022. Analysts were expecting revenue of $1.25 billion.

CLH is at $134.35 currently. It has traded in the range of $81.56-$147.76 in the last 1 year.