Hurricanes Masked Underlying Improvement Across Clean Harbors’ Portfolio in 3Q
We’re reiterating our $54 per share fair value estimate following narrow-moat Clean Harbors’ third-quarter report, as we see that many of the factors that negatively impacted results are largely temporary. Revenue increased 3.6% year over year to $755.8 million even as Hurricanes Harvey, Irma, and Maria severely affected operations in the U.S. Gulf Coast and Puerto Rico, areas where nearly 20% of the company’s sales originate. That said, only the Industrial and Field Services segment reported ye...Clean Harbors is a provider of environmental, energy and industrial services throughout North America. The company collects, transports, treats and disposes of hazardous and non-hazardous waste, including resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemical disposal, explosives management and CleanPack? services. The company's Safety-Kleen business provides an array of environmental services and complementary products to a range of customers including automobile repair shops, car and truck dealers, metal fabricators, machine manufacturers, fleet maintenance shops and other automotive, industrial and retail customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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