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Clean Harbors 1st-quarter profit rises as revenue climbs

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May 7, 2008

NORWELL, Mass.—Waste management services provider Clean Harbors Inc. on Wednesday said its first-quarter profit more than doubled, helped by higher revenue from both its technical and site services unit.

Quarterly profit rose to $8.9 million, or 43 cents per share, from $3.4 million, or 17 cents per share, in the same period last year.

Revenue rose 18 percent to $242.5 million from $205 million last year.

Analysts polled by Thomson Financial predicted a profit of 40 cents per share on revenue of $232.1 million.

The company said growth was broad based and all geographic regions were above plan.

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