Clean Harbors revenue hits $3.51 billion in 2013

Hazardous and industrial waste management giant Clean Harbors, Inc. (Norwell, MA) generated revenue of $3.51 billion during 2013, up 60% over the year before largely on the integration of the Safety-Kleen operations, but the company is reporting that it still did not hit financial targets for the year, and especially for the fourth quarter. “Our fourth-quarter results were below expectations, as an unanticipated slowdown due to adverse weather and the timing of holidays in December affected our business after a very strong start in October,” said Alan McKim, Clean Harbors’ chairman and CEO, in announcing the results on February 26. The company’s Technical Services segment, encompassing the traditional hazardous waste treatment, storage, and disposal (TSD) business, did not see its customary seasonal uptick in the final weeks of the year, McKim reported, and the Oil Re-refining and Recycling segment experienced a drop-off in shipments as buyers slowed purchases to reduce inventory. The Oil and Gas Field Services segment also fell short of what was expected in the fourth quarter, as a result of cancelled programs, he said.