Clean Harbors' stock price surged 5.76% intraday on Wednesday, driven by the company's release of better-than-expected fourth-quarter financial results and several positive strategic announcements.
The environmental services provider reported Q4 earnings of $1.62 per share, exceeding analyst estimates, with revenue of $1.50 billion also beating expectations. Net income rose 16% year-over-year to $86.6 million, while adjusted EBITDA increased 8% to $278.7 million.
Additionally, Clean Harbors announced a $350 million expansion of its share repurchase program, bringing total availability to $600 million. The company also signed an agreement to acquire certain environmental businesses from Depot Connect International for approximately $130 million and plans a $50 million strategic investment in fleet expansion to support future growth.