Clean Harbors, Inc. (NYSE:CLH) Q2 2023 Results Conference Call August 2, 2023 9:00 AM ET

Company Participants

Michael McDonald - General Counsel

Eric Gerstenberg - Co-CEO

Mike Battles - Co-CEO

Eric Dugas - EVP, CFO

Conference Call Participants

David Manthey - Baird

Jim Ricchiuti - Needham

Jerry Revich - Goldman Sachs

Michael Hoffman - Stifel

Noah Kaye - Oppenheimer

Tyler Brown - Raymond James

Jasper Bibb - Truist

Operator

Greetings, and welcome to the Clean Harbors Second Quarter 2023 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Michael McDonald, General Counsel. Thank you, sir. You may begin.

Michael McDonald

Thank you, Christine, and good morning, everyone. With me on today's call are our Co-Chief Executive Officers, Eric Gerstenberg; and Mike Battles; and our EVP and Chief Financial Officer, Eric Dugas, and SVP of Investor Relations, Jim Buckley. Slides for today's call are posted on our Investor Relations website, and we invite you to follow along.

Matters been 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 today, August 2, 2023. Information on potential factors and risks that could affect our results is included in our SEC filings. The company undertakes no obligation to revise or publicly release the results of any revision to the statements made today other than through filings made concerning this reporting period. Today's discussion includes references to non-GAAP measures.

Clean Harbors believes that such information provides an additional measurement and consistent historical comparison of its performance. Reconciliations of these measures to the most directly comparable GAAP measures are available in today's news release, on our website and in the appendix of today's presentation.

Let me turn the call over to Eric Gerstenberg to start, Eric?

Eric Gerstenberg

Thanks, Michael. Good morning, everyone, and thank you for joining us. Turning to our Q2 financial results on Slide 3. Our second quarter performance underscores the strength of our Environmental Services segment where our adjusted EBITDA margin climbed by 140 basis points from a year ago. This is a highly resilient business that is supported by scarce permitted assets, a strong safety record, technical expertise, a highly trained workforce, close customer relationships and effective capital allocation.