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Clean Harbors - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Clean Harbors Inc (ISIN: US1844961078, WKN: 876514) Kursdatum: 21.07.2017 Kurs: 56,380 USD
Beschreibung Daten
Symbol CLH
Marktkapitalisierung 3.243.654.144,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Sonstige
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2011-07-27 - 2:1 |
Internet
Letztes Bilanz Update 22.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
86,71 12,49 0,00% -1,08 29,45 -81,71 1,18 2,99

Firmenbeschreibung

QUARTERLY DATA (UNAUDITED) FirstQuarter SecondQuarter ThirdQuarter FourthQuarter (in thousands except per share amounts)2015       Revenues$732,499 $936,228 $893,366 $713,044Cost of revenues (1)546,507 652,688 634,646 522,965Income from operations (4)7,302 60,758 93,970 25,549Other income (expense)409 (660) (139) (990)Net (loss) income(7,089) 10,395 40,228 568Basic (loss) earnings per share (2)(0.12) 0.18 0.69 0.01Diluted (loss) earnings per share (2)(0.12) 0.18 0.69 0.01 FirstQuarter SecondQuarter ThirdQuarter FourthQuarter(3) (in thousands except per share amounts)2014       Revenues$846,667 $858,480 $851,465 $845,024Cost of revenues (1)625,719 606,950 598,407 610,720Income (loss) from operations (4)29,906 67,115 (42,748) 57,537Other income (expense)4,178 (655) 613 244Net income (loss)8,960 28,672 (93,337) 27,377Basic earnings (loss) per share (2)0.15 0.47 (1.55) 0.46Diluted earnings (loss) per share (2)0.15 0.47 (1.55) 0.46______________________________________(1)Items shown separately on the statements of income consist of (i) accretion of environmental liabilities and (ii) depreciation and amortization.(2)(Loss) earnings per share are computed independently for each of the quarters presented. Accordingly, the quarterly basic and diluted (loss) earnings per share may not equal the total computed for the year. (3)In the fourth quarter of 2014 an adjustment was recorded to correct income tax expense that was recorded in the third quarter of 2014 resulting in a benefit of approximately $5.4 million in the fourth quarter.(4)The second quarter of 2015 results include a $32.0 million goodwill impairment charge in our Oil and Gas Field Services reporting unit and the third quarter of 2014 results include a $123.4 million goodwill impairment charge in our Kleen Performance Products reporting unit.

Firmenstrategie

Principles of ConsolidationThe accompanying consolidated statements include the accounts of Clean Harbors, Inc. and its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

RevenueRecognitionPolicyTextBlock

Revenue Recognition and Deferred Revenue

During 2015, the Company provided environmental, energy, lodging and industrial services through six segments: Technical Services, Industrial and Field Services, Kleen Performance Products, SK Environmental Services, Lodging Services, and Oil and Gas Field Services. The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, and collection is reasonably assured. Revenue is recognized net of estimated allowances. Revenue is generated by short-term projects, most of which are governed by master service agreements that are long-term in nature. The master service agreements are typically entered into with the Company's larger customers and outline the pricing and legal frameworks for such arrangements.

Due to the nature of the Company's business and the invoices that result from the services provided, customers may withhold payments and attempt to renegotiate amounts invoiced. Accordingly, management establishes a revenue allowance to cover the estimated amounts of revenue that may need to be credited to customers' accounts in future periods. The Company records a provision for revenue allowances based on specific review of particular customers, historical trends and other relevant information.

Technical Services revenue is generated from fees charged for hazardous material management and disposal services including onsite environmental management services, collection and transportation, packaging, recycling, treatment and disposal of hazardous and non-hazardous waste. Services are provided based on purchase orders or agreements with the customer and include prices based upon units of volume of waste, and transportation and other fees. Collection and transportation, and packaging revenues are recognized when the transported waste is received at the disposal facility. Revenues for treatment and disposal of hazardous waste are recognized upon completion of wastewater treatment, final disposition in a landfill or incineration of the waste, all at Company-owned sites, or when the waste is shipped to a third party for processing and disposal. Revenues from recycled oil and recycled catalyst are recognized upon shipment to the customer. Revenue for all other Technical Services is recognized when services are rendered. The Company, at the request of a customer, periodically enters into bundled arrangements for the collection and transportation and disposal of waste. The Company accounts for such arrangements as multiple-element arrangements with separate units of accounting. The Company measures and allocates the consideration from the arrangement to the separate units, based on evidence of the estimated selling price for each deliverable. Revenues from waste that is not yet completely processed and disposed and the related costs are deferred. The revenue is recognized and the deferred costs are expensed when the related services are completed.

Industrial Services provides industrial and specialty services, such as high-pressure and chemical cleaning, catalyst handling, decoking and pigging to refineries, chemical plants, oil sands facilities, pulp and paper mills, and other industrial facilities. These services are provided based on purchase orders or agreements with the customer and include prices based upon daily, hourly or job rates for equipment, materials and personnel. Revenues are recognized over the term of the agreements or as services are performed. Field Services provides cleanup services on customer sites or other locations on a scheduled or

(2) SIGNIFICANT ACCOUNTING POLICIES (Continued)

emergency response basis. The Company's services are provided based on purchase orders or agreements with the customer and include prices based upon daily, hourly or job rates for equipment, materials and personnel. Revenues are recorded as services are performed. Revenue is recognized on contracts with retainage when services have been rendered and collectability is reasonably assured.

Kleen Performance Products revenue is generated from re-refining used oil to produce high quality base and blended lubricating oils, and recycling used oil collected in excess of the Company's re-refining capacity into recycled fuel oil. The high quality base and blended lubricating oils are sold to third-party distributors, retailers, government agencies, fleets, railroads and industrial customers. The recycled fuel oil is sold to asphalt plants, industrial plants, blenders, pulp and paper companies, vacuum gas oil producers and marine diesel oil producers. Revenue is recognized upon the transfer of title.

    

SK Environmental Services revenue is generated from providing parts cleaning services, containerized waste services, oil collection services and other complementary products and services. Revenue is recognized when products are delivered and services are performed. Parts cleaning services generally consist of placing a specially designed parts washer at a customer's premises and then, on a recurring basis, delivering clean solvent or aqueous-based washing fluid, cleaning and servicing the parts washer and removing the used solvent or aqueous fluid. The Company also services customer-owned parts washers. Revenue from parts cleaning services is recognized over the service interval. Service intervals represent the actual amount of time between service visits to a particular parts cleaning customer. Average service intervals vary from seven to 14 weeks depending on several factors, such as customer accommodation, types of machines serviced and frequency of use. Containerized waste services consist of profiling, collecting, transporting and recycling or disposing of a wide variety of hazardous and non-hazardous wastes. Collection and transportation, and packaging revenues are recognized when the transported waste is received at the disposal facility. Revenues for treatment and disposal of the waste is recognized upon disposal, or when the waste is shipped to a third party for processing and disposal. Other complementary products and services include vacuum services, sale of allied supply products and other environmental services.


Lodging Services provides accommodation services, along with catering and hospitality primarily in remote areas of Western Canada.  In addition, within Lodging Services is a manufacturing unit that provides construction of modular buildings including modular camp accommodations and wastewater solutions.  Revenue for lodging and related services is recognized in the period each room is used by the customer based on the related lodging agreements. Revenue for manufacturing services is recognized based on contracted terms resulting in either a percentage of completion methodology or upon transfer of ownership of completed units.

Oil and Gas Field Services provides fluid handling, fluid hauling, production servicing, surface rentals, seismic services, and directional boring services to the energy sector serving oil and gas exploration and production and power generation. These services are provided based on purchase orders or agreements with the customer and include prices based upon daily, hourly or job rates for equipment, materials and personnel. Revenues for such services are recognized over the term of the agreements or as services are performed. Oil and Gas Field Services also provides equipment rentals to support drill sites. Revenue from rentals is recognized ratably over the rental period.

  For all periods presented, amounts billed to customers related to shipping and handling are classified as revenue and the Company's shipping and handling costs are included in costs of revenues. In the course of the Company's operations, it collects sales tax from its customers and recognizes a current liability which is then relieved when the taxes are remitted to the appropriate governmental authorities. The Company excludes the sales tax collected from its revenues.

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SEGMENT REPORTING

Segment reporting is prepared on the same basis that the Company's chief executive officer, who is the Company's chief operating decision maker, manages the business, makes operating decisions and assesses performance. The Company's operations are managed in six reportable segments based primarily upon the nature of the various operations and services provided: Technical Services, Industrial and Field Services which consists of the Industrial Services and Field Services operating segments, Kleen Performance Products, SK Environmental Services, Lodging Services and Oil and Gas Field Services.


Third party revenue is revenue billed to outside customers by a particular segment. Direct revenue is revenue allocated to the segment providing the product or service. Intersegment revenues represent the sharing of third party revenues among the segments based on products and services provided by each segment as if the products and services were sold directly to the third party. The intersegment revenues are shown net. The negative intersegment revenues are due to more transfers out of customer revenues to other segments than transfers in of customer revenues from other segments. The operations not managed through the Company’s six reportable segments are recorded as “Corporate Items.” Corporate Items revenues consist of two different operations for which the revenues are insignificant. Corporate Items cost of revenues represents certain central services that are not allocated to the six segments for internal reporting purposes. Corporate Items selling, general and administrative expenses include typical corporate items such as legal, accounting and other items of a general corporate nature that are not allocated to the Company’s six reportable segments. Performance of the segments is evaluated on several factors, of which the primary financial measure is “Adjusted EBITDA,” which consists of net income (loss) plus accretion of environmental liabilities, depreciation and amortization, net interest expense, provision for income taxes, other non-cash charges (including goodwill impairment charge) not deemed representative of fundamental segment results and excludes other expense (income). Transactions between the segments are accounted for at the Company’s best estimate based on similar transactions with outside customers.



(17) SEGMENT REPORTING (Continued)

The following table reconciles third party revenues to direct revenues for the years ended December 31, 2015, 2014 and 2013 (in thousands).

 
For the Year Ended December 31, 2015
 
Technical
Services
 
Industrial
and Field Services
 
Kleen Performance Products

SK Environmental Services
 
Lodging Services
 
Oil and Gas Field
Services
 
Corporate
Items
 
Totals
Third party revenues
$
991,410

 
$
957,337

 
$
386,824

 
$
674,102

 
$
89,060

 
$
175,946

 
$
458

 
$
3,275,137

Intersegment revenues, net
144,084

 
(32,982
)
 
(79,991
)
 
(39,241
)
 
2,496

 
5,634

 

 

Corporate Items, net
3,586

 
(756
)
 
(8
)
 
3

 
157

 
200

 
(3,182
)
 

Direct revenues
$
1,139,080

 
$
923,599

 
$
306,825

 
$
634,864

 
$
91,713

 
$
181,780

 
$
(2,724
)
 
$
3,275,137

EarningsPerSharePolicyTextBlock

Earnings (Loss) per Share ("EPS")

Basic EPS is calculated by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all potentially dilutive common shares that were outstanding during the period.

 
For the Year Ended December 31, 2014
 
Technical
Services
 
Industrial and Field Services
 
Kleen Performance Products

SK Environmental Services
 
Lodging Services
 
Oil and Gas Field
Services
 
Corporate
Items
 
Totals
Third party revenues
$
1,043,267

 
$
681,779

 
$
533,587

 
$
667,320

 
$
172,218

 
$
303,189

 
$
276

 
$
3,401,636

Intersegment revenues, net
156,543

 
(42,681
)
 
(201,859
)
 
80,477

 
2,434

 
5,086

 

 

Corporate Items, net
5,573

 
271

 
(5
)
 
(58