NORWELL — Clean Harbors Inc., which provides hazardous waste management services, said its first-quarter net income more than doubled, boosted by an acquisition, but that was partly offset by poor weather.
Clean Harbors is responding to the oil spill in the Gulf of Mexico, but the full scope of its involvement “will evolve over time.’’
Net income rose to $10.4 million, or 40 cents per share, from nearly $5 million, or 21 cents, last year.
Revenue rose 72 percent, to $354.9 million, mainly due to the company’s acquisition last year of the Canadian oil services firm Eveready Inc.
Analysts polled by Thomson Reuters, on average, expected net income of 42 cents per share on revenue of $345.5 million.
Within the company’s environmental services unit, the company said it saw stabilization in industries including chemicals, manufacturing, and pharmaceuticals. That was offset by unfavorable weather, including snow and freezing temperatures, in the Mid-Atlantic and flooding in the Northeast.
Clean Harbors continues to expect revenue of $1.40 billion to $1.45 billion. Analysts predict $1.42 billion.