Clean Harbors Reduces 2015 Adjusted EBITDA Guidance Due To Ongoing Headwinds

(RTTNews) - Clean Harbors, Inc. (CLH) announced the company now expects its 2015 adjusted EBITDA in the range of $507 million to $514 million, compared with its previous guidance of $530 million to $570 million. The company said it is setting a target of $100 million in cost takeouts that will be achieved over the course of the next year through reduced G&A spending, office and real estate consolidation, and gains in operational efficiencies.

Revenues for the third quarter of 2015 were $893.4 million, up 5% from $851.5 million in the same period in 2014. Adjusted EBITDA increased 8% to a record $165.6 million from $153.4 million, prior year.