Dive Brief:
- Clean Harbors Inc., a solid and hazardous waste firm, released its financials for the fourth quarter, ending Dec. 31, 2014, in addition to its 2014 full year results.
- Net income in the fourth quarter increased by 2.2% to $27.4 million, up from $26.8 million in the same quarter of 2013.
- Revenue fell 3.9% to $845 million in the fourth quarter, down from $879.4 million posted in Q4 of 2013.
Dive Insight:
The hazardous waste firm also announced its 2014 full year results. In 2014, the company had a net loss of $8.3 million. In 2013, it had a net profit of $95.6 million. Revenue in 2014 dropped 31.3% to $3.4 billion, down from $3.51 billion in 2013.
Alan McKim, Clean Harbors chairman and CEO, said, “In 2014, we encountered several headwinds that included declining Canadian currency, a slowdown in the Oil Sands, a drop in base oil prices and turbulence in the energy markets.”