Why Clear Harbors Stock Got Slammed Today
Environmental and industrial services provider Clean Harbors (NYSE: CLH) wasn't a hit on the stock market Wednesday. It published its third-quarter results this morning, and the market's reception was far from welcoming. The stock was hit with a more than 11% sell-off, which was notably worse than the S&P 500 index's essentially flat performance.
Revenue for the quarter was $1.55 billion, Clean Harbors reported, representing barely above 1% growth year over year. The dynamic was similar with net income according to generally accepted accounting principles (GAAP). This came in at $118.8 million ($2.21 per share), which wasn't far higher than the year-ago profit of $115.2 million.
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Source Fool.com
