Clean Harbors Earnings Preview: Strong Growth Expected Amid Oil Price Volatility

Clean Harbors is set to report its second-quarter earnings on Wednesday, with analysts expecting strong sequential growth. The environmental and industrial services provider's shares are trading at $301.75, about 5% below their 52-week high of $316.98 reached earlier this year.

Wall Street expects Clean Harbors to post earnings of $2.77 per share on revenue of $1.64 billion for the quarter ended June. This would represent a sharp sequential jump from the $1.19 per share and $1.46 billion reported in the first quarter, reflecting typical seasonal strength in Clean Harbors' industrial services business.

Analysts are bullish on Clean Harbors' growth trajectory, with 12 of the 16 covering the stock rating it a buy and four rating it a hold. The consensus price target of $332 implies roughly 10% upside from current levels, following BofA Securities' initiation of coverage with a buy rating and $360 price target just Monday.