The company lifted its full-year adjusted EBITDA guidance to $1.24 billion-$1.30 billion following stronger Q1 profitability.
Clean Harbors reported first-quarter revenue of $1.46 billion, a 2% year-over-year increase, while adjusted EBITDA rose 6% to $248 million. The company cited margin expansion in Environmental Services and improved base oil pricing in Safety-Kleen Sustainable Solutions as key drivers for the beat.
Environmental Services delivered its 16th consecutive quarter of margin improvement and 18th straight quarter of EBITDA growth. Safety-Kleen’s adjusted EBITDA surged 17% to $33 million, prompting management to raise the segment’s full-year EBITDA target.
The company now expects full-year adjusted EBITDA between $1.24 billion and $1.30 billion, up from prior guidance. Consolidated adjusted EBITDA margin expanded 60 basis points to 17% in Q1.