http://www.morningstar.com/earnings/44881191-clean-harbors-inc-clh-q3-2012.aspx

Clean Harbors, Inc. CLH
Q3 2012 Earnings Call Transcript

Transcript Call Date 11/07/2012

Operator: Greetings and welcome to the Clean Harbors Incorporated Third Quarter 2012 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answers session will follow the formal presentation. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, David Musselman, General Counsel for Clean Harbors, Inc. Thank you, sir you may begin.

David T. Musselman - SVP and General Counsel: Thank you, Dan, and good morning, everyone. Thank you for joining us today. On the call with me are Chairman and Chief Executive Officer, Alan S. McKim; Vice Chairman and Chief Operating Officer Jim Rutledge and Chief Financial Officer, Rob Gagnon.

Matters we are discussing today that are not historical facts are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Participants are cautioned not to place undue reliance on these statements, which reflect management's opinions only as of this date, November 7, 2012.

Information on the potential factors and risks that could affect the Company's actual results of operations is included in our filings with the SEC. The Company undertakes no obligation to revise or publicly release the results of any revision to the forward-looking statements made in today's press release or this morning's call other than through SEC filings which will be made concerning this reporting period.

In addition, I would like to remind you that today's discussion will include references to non-GAAP measures. Clean Harbors believes that such information provides an additional measurement and consistent historical comparison of its performance.

A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is available in today's news release, which can be found on our website, cleanharbors.com.

Now, I would like to turn the call over to our COO Jim Rutledge. Jim?

James M. Rutledge - Vice Chairman of Board and COO: Thanks David, and good morning, everyone. Let me start with an agenda for today's call. I'll make some brief remarks about Q3 and then provide a more detailed discussion about how our individual segments performed and an overview of our verticals. Rob will walk through our financials in more detail and then Alan will do a quick recap on our recently announced acquisition of Safety-Kleen and provide our outlook before we open it up to Q&A.

Starting with our results, our Q3 performance reflected the diversity of our business model, we had a number of areas of strength including our landfills and incinerators on the environmental side and our oil sands and lodging business on the energy and industrial side. At the same time the seasonal slowdown in oil and gas field services that we discussed on our Q2 call continued and unlike last year we had no emergency response revenue in field services.

Rob is going to talk more about our results in more detail, but I did want to highlight our EBITDA performance this quarter. We topped $100 million for only the third time in our history, this quarter. Equally important we delivered a high EBITDA margin for the quarter of 18.7%.

Read our Earnings Call Transcript disclaimer.
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