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Clean Harbors, Inc. (Norwell, MA) has continued a string of stellar quarterly financial performance by generating a record $556.1 million in sales for the third quarter of 2011 and earnings before interest, taxes, depreciation, and amortization (EBITDA) of $103.8 million. The $556.1 million in third-quarter revenue represented an increase of 14% over $487.7 million in sales for the third quarter of 2010 and were higher than anticipated, according to the company. “In the third quarter, Clean Harbors delivered a better-than-expected financial performance as a result of the broad-based growth of our business, strong contributions from recent acquisitions, and emergency response work,” said Alan McKim, Clean Harbors’ chairman and CEO. “Growth across our four operating segments enabled us to generate record revenues of $556 million. Within Technical Services, the utilization rate at our incinerators was 89% in the quarter. Within Field Services, emergency response work related to the Yellowstone River oil spill generated approximately $42 million in revenue in the quarter. Consistent with prior quarters, large-scale projects continued to drive growth in Field Services core operations, which increased by 38% year-over-year exclusive of emergency response work.”
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