SEATTLE (Recycling Monster): Norwell, Massachusetts- headquartered waste management company Clean Harbors announced that the business from its environmental services segment has recorded ninth straight quarter of year-on-year growth.

According to company press release, the environmental services segment revenue surged higher by over 7% in Q4 last year, in comparison with the corresponding quarter a year before. The segment reported strong volumes in the entire year 2023.

Eric Dugas, CEO of the company foresees high single-digit growth in revenues from the sector during the current year. Clean Harbors foresees an adjusted EBITDA of between $1.05 billion and $1.11 billion in 2024, higher by 7% year-on-year. The adjusted free cash flow for 2024 is projected to range between $340 million and $400 million. The company’s PFAS remediation business, which witnessed 20-25% growth in 2023, is expected to continue its growth this year as well, Dugas said

The company reported capital expenditures of $412.7 million in 2023. The capex for the current year is estimated at around $390-$420 million. The major projects for the year include the $20 million upgrades at its Baltimore site. Additionally, it plans to invest in improvements to incinerators, including upgrades to wastewater treatment at its Houston incinerator.