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.
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