Record First Quarter Results for Clean Earth
Clean Earth delivered record first quarter results with an EBITDA increase of 12%, supported by revenue growth of 4%. Margins grew by over 100 basis points, exceeding 16% for the quarter.
Successful Contract Amendment in Rail Segment
Successfully renegotiated a major ETO contract with Deutsche Bahn, reducing future risks and penalties, and leading to a favorable $11 million accounting adjustment.
Positive Cash Flow and Financial Guidance
Cash flow was ahead of expectations, supporting full year cash flow guidance of $30 to $50 million. The company maintained its guidance for the full year, with projected earnings growth and positive cash flow.
Leadership Rebuild in Rail Segment
Completed the rebuild of the rail leadership team with a new President and CFO, focusing on operational excellence and reducing risks related to ETO contracts.