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Clean Harbors Shares Rise as Earnings Beat Estimates

Wednesday, 22 Feb 2012 05:09 PM

 

Shares of Clean Harbors Inc., a provider of waste-management services, rose Wednesday after the company reported earnings that exceeded analysts’ estimates.

Clean Harbors increased 5.9 percent to $69.44 at the close in New York, the biggest gain since November. The company, based in Norwell, Massachusetts, reported fourth-quarter earnings of 72 cents a share, beating the average estimate of 49 cents of seven analysts compiled by Bloomberg.

The company had revenue of $545.9 million, compared with $417.1 million a year earlier. Analysts had estimated revenue of $506.8 million. Annual sales increased to $1.98 billion from $1.73 billion in 2010.

“Our growth was driven by a combination of our 2011 acquisitions and double-digit organic growth in the quarter,” Chief Executive Officer Alan McKim said in a company statement.

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