Key Developments: Clean Harbors Inc (CLH)
58.25USD
24 May 2013
$-0.42 (-0.71%)
$58.67
$58.31
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$58.00
46,894
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$64.40
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Latest Key Developments (Source: Significant Developments)
Clean Harbors Inc Lowers FY 2013 Revenue Guidance; Reaffirms FY 2013 EBITDA Guidance
Clean Harbors Inc announced that for fiscal 2013, it expects revenue in the range of $3.62-$3.67 billion and Adjusted EBITDA in the range of $605-$620 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $3.7 billion and EBITDA of $606 million for fiscal 2013. Full Article
Clean Harbors Inc Reaffirms FY 2013 Guidance
Clean Harbors Inc announced that based on fiscal 2012 performance and current market conditions, it has confirmed previously announced fiscal 2013 annual revenue and adjusted EBITDA guidance. The Company continues to expect revenues in the range of $3.72-$3.77 billion and Adjusted EBITDA in the range of $605-$620 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $614 million for fiscal 2013. Full Article
Clean Harbors Inc Announces CFO Change-Form 8-K
Clean Harbors Inc reported in its Form 8-K that on February 4, 2013, Robert E. Gagnon resigned as Chief Financial Officer (CFO). Mr. Gagnon, who has served as Chief Financial Officer since August 2012, will continue to perform transitional services until March 31, 2013. Also on February 4, 2013, James M. Rutledge, currently Vice Chairman, President and Chief Operating Officer of the Company, was designated by the Board of Directors to resume his role as Chief Financial Officer (CFO), which he previously held from August 2005 through August 2012. Mr. Rutledge will now serve as Vice Chairman, President and Chief Financial Officer. Full Article
Clean Harbors Inc Completes Acquisition of Safety-Kleen Inc
Clean Harbors Inc announced the completion of its acquisition of Safety-Kleen Inc., a provider of parts cleaning and environmental services and the re-refiner and recycler of used oil in North America. Clean Harbors purchased Safety-Kleen in an all-cash transaction valued at approximately $1.25 billion, financed through the combination of $289 million of existing cash, $370 million in net proceeds from its recently completed follow-on offering of common stock and $591 million in net proceeds from its recently completed Senior Notes offering. Full Article
Clean Harbors Inc Updates On FY 2013 Guidance
Clean Harbors Inc announced that for fiscal 2013, it expects that on a combined basis with Safety-Kleen, it will have revenues in the range of $3.72 billion to $3.77 billion and adjusted EBITDA to be in the range of $605 million to $620 million, including approximately $30 million of acquisition-related synergies. These combined estimates include the previously announced stand-alone revenues for Clean Harbors in the range of $2.30 billion to $2.35 billion and adjusted EBITDA in the range of $425 million to $435 million. Full Article
Clean Harbors Inc Prices Follow On Offering Of Common Stock
Clean Harbors Inc announced that it has priced a previously announced follow-on public offering of 6.0 million shares of its common stock at a public offering price of $56.00 per share. The offering is expected to close on December 3, 2012. Clean Harbors has granted the underwriters an option to purchase up to 900,000 additional shares of common stock. Clean Harbors expects to receive net proceeds, after underwriting discounts and expenses and assuming the underwriters' over-allotment option is not exercised, of approximately $320.22 million. Clean Harbors intends to use the net proceeds of the offering to finance a portion of the purchase price for its previously announced proposed acquisition of Safety-Kleen, Inc. and its subsidiaries and related transaction fees and expenses. Goldman, Sachs & Co. is acting as the sole book-running manager of the offering. BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as co-managers. Full Article
Clean Harbors Inc Announces Follow-On Offering Of Common Stock
Clean Harbors Inc announced that it has commenced a follow-on public offering of 6.0 million shares of its common stock. The underwriters for the offering will also have the option to purchase up to an additional 900,000 shares of common stock. Clean Harbors intends to use the net proceeds of the offering to finance a portion of the purchase price for its previously announced proposed acquisition of Safety-Kleen, Inc. and its subsidiaries and related transaction fees and expenses. Goldman, Sachs & Co. is acting as the sole book-running manager of the offering. BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as co-managers. The shares are being offered only pursuant to the preliminary prospectus supplement to the base prospectus included in a registration statement, which was filed with the Securities and Exchange Commission and became effective on November 26, 2012. Full Article
Clean Harbors Inc Lowers FY 2012 Guidance; Issues FY 2013 Mixed Guidance
Clean Harbors Inc announced that for fiscal 2012, it expects revenues in the range of $2.15-$2.16 billion, revised from previously announced guidance of $2.20 billion to $2.25 billion. The Company now expects fiscal 2012 EBITDA in the range of $375-$380 million, revised from its previously announced guidance of $400-$410 million. For fiscal 2013, it expects revenues in the range of $2.30-$2.35 billion and EBITDA in the range of $425-$435 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $2.21 billion and EBITDA of $395 million for fiscal 2012 and revenue of $2.28 billion and EBITDA of $437 million for fiscal 2013. Full Article
Clean Harbors Inc To Buy Safety Kleen Inc-Reuters
Reuters reported that Clean Harbors Inc will buy privately held Safety Kleen Inc, a re-refiner and recycler of used oil in North America, for $1.25 billion in an all-cash deal. Full Article
Clean Harbors Inc Reaffirms FY 2012 Guidance
Clean Harbors Inc announced that for fiscal 2012, it expects revenue to be in the range of $2.2 billion to $2.25 billion and EBITDA to be in the range of $400-$410 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $2.22 billion and EBITDA of $400 million for fiscal 2012. Full Article
TEXT - S&P affirms Clean Harbors ratings
Overview -- Clean Harbors Inc. announced that it is issuing $550 million of senior unsecured notes and will use the proceeds to fund a portion of the $1.25 billion purchase price related to its proposed acquisition of Safety-Kleen Inc., the holding company of Safety-Kleen Systems Inc. (B+/Watch Pos/--). -- We are affirming our ratings, including our 'BB+' corporate credit rating, on Clean Harbors and removing the ratings from CreditWatch negative, where we placed them on Nov. 1, 20
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