Clean Harbors, Inc.: Can Its Increase In Incineration Capacity Help Alter The Playing Field? 

Clean Harbors presented both positive and negative elements in its fourth-quarter and full-year 2024 financial results, demonstrating the company’s position in the environmental and industrial services sector. The company achieved a strong year with consolidated EBITDA growth of 10%, buoyed by its Environmental Services (ES) segment’s solid performance. This segment marked an increase in momentum, leading to a 9% revenue growth with improved adjusted EBITDA margins of over 25%. Key drivers were stable waste collection volumes and strong project execution, aided by the acquisition and integration of HEPACO and Noble Oil. The segment’s performance was marked by robust demand, leading to an 11% consecutive quarter improvement in year-over-year adjusted EBITDA margins, showcasing efficiency and strategic enhancements in operations.