Clean Harbors Inc. (NYSE: CLH) saw its stock plummet 5.06% in the pre-market session on Wednesday, February 19, 2025, following the release of its fourth-quarter and full-year 2024 financial results.

The environmental services company reported record revenue of $1.43 billion for the fourth quarter, up 7% year-over-year, in line with analyst estimates. Adjusted EBITDA for the quarter was $257.2 million, with an 18% margin, slightly above expectations.

For the full year 2024, Clean Harbors reported revenue of $5.89 billion, up 9% year-over-year, and adjusted EBITDA of $1.12 billion, up 10% year-over-year. The company's performance was driven by strong demand and pricing in its Environmental Services segment, offset by challenges in its Safety-Kleen Sustainability Solutions segment.

However, Clean Harbors' 2025 guidance appeared to be slightly below market expectations. The company provided full-year adjusted EBITDA guidance in the range of $1.15 billion to $1.21 billion, representing 6% year-over-year growth at the midpoint. This guidance, coupled with the challenges faced in the Safety-Kleen Sustainability Solutions segment, may have contributed to the stock's decline.

Despite the mixed reaction, Clean Harbors highlighted several strategic initiatives aimed at driving future growth, including the commercial launch of a new state-of-the-art incinerator facility and acquisitions such as HEPACO and Noble Oil.