Clean Harbors Increases Share Repurchase Program by $500M

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Clean Harbors ($NYSE:CLH), a leading provider of environmental, energy and industrial services, has announced an increase of its existing share repurchase program by $500M. It is a highly diversified business offering an array of services such as energy and industrial services, vacuum truck and roll-off services, oil re-refining and recycling, as well as emergency response and disaster relief services. The increased share repurchase program will help Clean Harbors continue this momentum by further increasing shareholder value. The additional $500M will allow the company to purchase more shares of its common stock, which will help drive up the stock price and increase dividend payments to shareholders.

The expansion of Clean Harbors’ share repurchase program is an indication of the company’s confidence in its long-term prospects. With the additional capital, the company plans to continue investing in new technologies and services that will enhance its existing portfolio and provide additional opportunities for growth. This news is likely to be well received by investors, as Clean Harbors’ stock price has already seen a significant jump following the announcement.

Market Price

On Thursday, shares of Clean Harbors (CLEAN HARBORS) opened at $165.6 and closed at $169.6, representing a 3.7% increase over the prior closing price of $163.5. This new program authorizes the company to repurchase up to 4M shares of their outstanding stock in the open market, or through privately negotiated transactions. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Clean Harbors. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Clean Harbors. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Clean Harbors. More…

Key Ratios Snapshot

Some of the financial key ratios for Clean Harbors are shown below. More…

Analysis

After analyzing CLEAN HARBORS‘s financials, GoodWhale has concluded that the company is classified as a ‘gorilla’ – a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This is illustrated in the Star Chart which provides a visual representation of the company’s performance relative to other stocks. In terms of potential investors, we believe that the company may be attractive to value and growth investors, particularly those looking to invest in a long-term, stable stock. Furthermore, CLEAN HARBORS has a high health score of 8/10 considering its cashflows and debt, indicating that it is well-positioned to sustain operations during times of crisis. Overall, while CLEAN HARBORS is strong in terms of assets, growth, and profitability, it is weaker when it comes to dividends. With this in mind, investors should ensure they understand the company’s full scope before investing. More…

Peers

Clean Harbors Inc and its competitors, Republic Services Inc, Heritage-Crystal Clean Inc, and Waste Management Inc, are all companies that provide environmental and industrial services. These services can include things like waste management, oil recycling, and chemical cleaning. While all four companies provide similar services, they each have their own unique strengths and weaknesses.

– Republic Services Inc ($NYSE:RSG)

Return on equity (ROE) is a ratio that measures the profitability of a company in relation to the equity that shareholders have invested. The higher the ROE, the more profitable the company is.

Republic Services, Inc. is an industry leader in U.S. non-hazardous solid waste and recycling. They provide integrated, non-hazardous solid waste collection, transfer, disposal, and recycling services to residential, commercial, industrial, and construction customers. As of 2022, Republic Services had a market cap of 41.18B and an ROE of 14.02%.

– Heritage-Crystal Clean Inc ($NASDAQ:HCCI)

Heritage-Crystal Clean Inc is a leading provider of environmental and industrial services. The company has a market cap of 661.49M as of 2022 and a Return on Equity of 16.76%. Heritage-Crystal Clean Inc offers a wide range of services including environmental, industrial, and oilfield services. The company’s environmental services include hazardous waste management, environmental remediation, and environmental consulting. Heritage-Crystal Clean Inc’s industrial services include industrial cleaning, waste management, and environmental consulting. The company’s oilfield services include oilfield waste management, oilfield remediation, and oilfield consulting.

– Waste Management Inc ($NYSE:WM)

Waste Management Inc is an American waste management and environmental services company. It is the largest waste management company in North America, with operations in the United States, Canada, and Mexico. The company has a market cap of 64.5B as of 2022 and a Return on Equity of 28.78%. Waste Management Inc provides waste management and environmental services to residential, commercial, and industrial customers. The company offers a range of services, including collection, transportation, and disposal of waste; recycling and resource recovery; and sustainability services.

Summary

Clean Harbors is an attractive stock for investors due to its recent announcement to expand its existing share repurchase program by $500M. This indicates management’s confidence in the company’s long-term growth prospects. The news has been well received by the market, as the stock price moved up the same day. Investors can take advantage of the opportunity and buy Clean Harbors’ stock at a relatively low price, with potential for upside in the long run.

Additionally, Clean Harbors has a strong financial position with no debt and a healthy dividend yield, making it a sound investment for those looking for steady returns.