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UPDATE 1-Clean Harbors Q4 lags Street, shares down
February 24, 2010 / 3:24 PM / in 8 years

UPDATE 1-Clean Harbors Q4 lags Street, shares down

* Q4 EPS $0.53 vs est $0.66 * Rev up 39 pct but misses estimates * Says cautious about the sales environment in ‘10 * Shares down 10 pct

* Maintains 2010 rev outlook

Feb 24 (Reuters) - U.S. waste-management company Clean Harbors Inc (CLH.N) reported a lower fourth-quarter profit that missed analysts’ estimates, hurt by lower utilization of its recently acquired Eveready assets, sending its shares down 10 percent in early morning trade.

“We remain cautious about the sales environment in 2010 although we are beginning to see the initial signs of recovery in many of our end-markets,” Chief Executive Alan McKim said in a statement. However, the company kept its 2010 revenue view of $1.40 billion to $1.45 billion versus analysts’ view of $1.447 billion.

For the latest fourth quarter, net income was $13.9 million, or 53 cents a share, compared with $17.9 million, or 75 cents a share, last year.

Total revenues for the quarter rose 39 pct to $347 million.

Analysts, on average, expected the company to post earnings of 66 cents a share, excluding items, on revenue of $349.74 million, according to Thomson Reuters I/B/E/S. Shares of the company were down $5.8 at $53.03 on the New York Stock Exchange. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Jarshad Kakkrakandy)

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