New names may be on your radar in the wake of the Gulf spill. We’re talking companies such as Clean Harbors that are helping clean up.
In the past 5 days shares of CLH have popped almost 10% as investors bet the company’s bottom line swells in the wake of the spill.
Earlier this month Credit Suisse raised Clean Harbors to outperform from neutral, citing more hazardous waste clean-up than previously expected.
Considering all the attention, it’s no surprise the Street was talking about this company’s earnings report, which was released Wednesday.
The company missed analysts' estimates by two cents, hurt by unfavorable weather conditions.
Clean Harbors said heavy snow and freezing temperatures in the Mid-Atlantic region, widespread flooding in the Northeast and unseasonably warm temperatures in Western Canada affected business through the quarter.
Looking at the numbers more closely net income was $10.4 million, or 40 cents a share, compared with $5 million, or 21 cents a share, last year.
Total revenues for the quarter rose 72 percent to $354.9 million.
Analysts, on average, expected the company to post earnings of 42 cents a share, excluding items, on revenue of $342.75 million, according to Thomson Reuters I/B/E/S.
What else must you know to trade this stock? Find out from CEO Alan McKim. Watch the video now!