Business

Heritage-Crystal Clean revenue up 41%

Posted October 20, 2021 11:00 pm

ELGIN - Heritage-Crystal Clean Inc. said Thursday revenue for the third quarter of 2021 was $123.2 million, compared to $87.1 million for the same quarter of 2020, an increase of 41.4%.

The company is a provider of manufacturing parts cleaning, used oil re-refining, and hazardous and nonhazardous waste services, primarily focused on small and mid-size customers.

Overall operating margin jumped to 31.7%, driven primarily by the Oil Business segment, compared to 2020 third quarter operating margin, which was 17.8%. The fiscal year third quarter ended Sept. 11.

Environmental Services revenue was $72.3 million during the quarter compared to $62.4 million during the third quarter of fiscal 2020. The 15.9% increase in revenue was mainly due to our continuing recovery from the negative impacts of the COVID-19 pandemic, the company said.

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