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Clean Harbors Inc Maintains FY 2013 Revenue Guidance; Lowers FY 2013 EBITDA Guidance; Issues FY 2014 Guidance In Line With Analysts' Estimates


Wednesday, 6 Nov 2013 07:30am EST 

Clean Harbors Inc announced that based on its year-to-date performance and current market conditions, Clean Harbors is maintaining its previously announced fiscal 2013 revenue guidance and revising its previously announced Adjusted EBITDA range. The Company continues to expect fiscal 2013 revenues in the range of $3.50 billion to $3.55 billion. The Company currently expects Adjusted EBITDA in the range of $523 million to $528 million, compared with its previous guidance of $535 million to $545 million, primarily as a result of the delayed opening of the Ruth Lake lodge and lower-than-expected Adjusted EBITDA contributions from the Oil Sands region in the second half. Based upon preliminary estimates of the markets it serves, the Company currently expects fiscal 2014 revenues in the range of $3.7 billion to $3.8 billion. With this level of growth, the Company expects its 2014 Adjusted EBITDA to be in a range of $610 million to $640 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $3.52 billion and EBITDA of $538 million for fiscal 2013; and revenue of $3.8 billion and EBITDA of $627 million for fiscal 2014.