Michael Battles on inflation
From Rising demand doesn't signify 'any slowdowns in the industrial economy just yet': Clean Harbors CEO · · Yahoo Finance
“We're still feeling inflationary pressure; wages and cost of materials aren't going backwards.”
On , Michael Battles, Co-Chief Executive Officer, Co-President & Director at CLEAN HARBORS INC, spoke about inflation during Rising demand doesn't signify 'any slowdowns in the industrial economy just yet': Clean Harbors CEO on Yahoo Finance.
About Michael Battles
In a September 2023 interview at the Goldman Sachs Industrials and Materials Conference, Michael Battles stated that Clean Harbors' pipeline "remains very strong" and that he did not see "any slowdowns in the industrial economy just yet." He attributed growth in the company's Environmental Services segment to pricing and a better mix of high-hazardous waste streams. Battles noted that the company continues to feel inflationary pressure on wages and materials, and emphasized the importance of maintaining a strong balance sheet to be "opportunistic" for acquisitions if recessionary pressures arise. Battles also discussed labor and technology initiatives, stating that Clean Harbors has been lowering its turnover rate to pre-COVID levels by improving holidays, healthcare costs, and providing career paths. He noted the company has increased its direct labor headcount by over 1,300 and is making ongoing investments in technology, including a single ERP system and efforts in robotic process automation and artificial intelligence.