SEATTLE (Recycling Monster): Norwell, Massachusetts-headquartered Clean Harbors announced results for Q2 this year. The robust results were mainly driven by the growth through the acquisition of HEPACO.

The company reported Q2 2024 revenue of $1.55 billion, recording a surge of 11% over the previous year, partly driven by its recent acquisition of HEPACO. The acquisition contributed to substantial growth in its environmental services portfolio. The net income was up by 15.1% over the prior year quarter to $133.3 million. The adjusted EBITDA too were up by 14% over the same quarter a year before to total $327.8 million.

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The Clean Harbors’ oil and lubricants business segment recorded improved revenues during the quarter, upon comparison with Q1 this year, but were still down over the previous year. The segment has been reporting revenue decline for several quarters, due to falling base oil prices.

The environmental services EBITDA recorded eleventh consecutive quarter of increase. The segment revenues totalled $1.3 billion in Q2 this year, higher by 11.7% year-on-year. The segment reported rising volumes and pricing. The company reported stronger-than-expected returns from HEPACO integration during the initial six-month period of the year.