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Higher Q4 Revenue, Earnings For Safety-Kleen

The Safety-Kleen segment of Clean Harbors Inc. reported nearly $288 million in direct revenue for the fourth quarter of 2018 — an increase of 5.7 percent over the previous year. Management attributed the growth to higher production volumes, Safety-Kleen’s closed loop initiative, pricing and growth within the branch network’s core lines of business. Parts washer revenue was up slightly tied to pricing.

Safety-Kleen’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 1.1 percent to $67.57 million, which marked its 10th consecutive quarter of year-over-year adjusted EBITDA growth.