Companies /Industrials

Clean Harbors Inc

NYSE: CLH Waste Management
$312.18
▼ $1.50 (−0.48%) today
Markets open · 1:03pm ET

Q2 2026 Earnings

Reported Jul 29, 2026, 8:07am ET · SEC source
$3.22
Beat +14.59%
EPS · est. $2.81
$1.7B
Beat +5.55%
Revenue · est. $1.6B
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−2%0+2%+4%Jul 29Jul 30report 8:07am ETearnings−0.3%−1.6%
−2%0+2%+4%Jul 29Jul 30earnings−0.3%−1.6%
CLH −1.6%S&P 500 −0.3%
−2%0+2%+4%Jul 29Jul 30report 8:07am ETearnings+0.8%−1.6%
−2%0+2%+4%Jul 29Jul 30earnings+0.8%−1.6%
CLH −1.6%NASDAQ +0.8%
−4%0+4%Jul 28Aug 6report 8:07am ETearnings+3.9%−2.6%
−4%0+4%Jul 28Aug 6earnings+3.9%−2.6%
CLH −2.6%S&P 500 +3.9%
−4%0+4%+8%Jul 28Aug 6report 8:07am ETearnings+5.6%−2.6%
−4%0+4%+8%Jul 28Aug 6earnings+5.6%−2.6%
CLH −2.6%NASDAQ +5.6%
+7.47%
Day of report
−2.82%
Next session
−5.24%
One week

Did CLH Beat Earnings? Q2 2026 Results

Clean Harbors posted a standout second quarter of 2026, beating Wall Street on both top and bottom lines as accelerating demand across its environmental and oil re-refining businesses powered results well ahead of expectations. The company reported diluted EPS of $3.22, clearing the $2.81 consensus estimate by 14.59%, while revenue climbed 11.9% year over year to $1.74 billion against a $1.64 billion forecast. The single most dramatic driver was the Safety-Kleen Sustainability Solutions segment, where revenue surged 41% and Adjusted EBITDA jumped 143% to $92.99 million, fueled by a sharp rise in re-refined product pricing tied to global supply disruptions. Technical Services also contributed meaningfully, with incineration utilization reaching 91% and a ten-year, $600 million disposal contract announced with a U.S. manufacturing customer set to commence in Q4 2026. Confidence in the momentum is reflected in raised full-year guidance, with management lifting the Adjusted EBITDA midpoint by $110 million to a range of $1.35 billion to $1.41 billion, citing reshoring trends, a growing PFAS pipeline, and favorable SKSS conditions extending into Q3.

Key Takeaways
  • Strong disposal and recycling volumes in Environmental Services segment
  • Sharp uptick in re-refined product market pricing due to global supply disruptions in SKSS
  • Strategic pricing initiatives to offset inflation and fuel costs
  • Incineration utilization rose to 91% from 86% a year ago, aided by new Kimball incinerator
  • Landfill volumes rose 7% in Q2
  • Technical Services revenue grew 18% on strong demand
  • Safety-Kleen Environmental Services revenue increased 11%
  • PFAS-related work including large filtration project
  • Collected 61 million gallons of waste oil while increasing collection service revenues

“Our record second-quarter results demonstrate the substantial momentum we achieved in both of our operating segments. Our Environmental Services (ES) segment benefited from a combination of healthy volumes into our disposal and recycling network, remediation projects, PFAS-related work and our strategic pricing initiatives to offset inflation and fuel costs. Within our Safety-Kleen Sustainability Solutions (SKSS) segment, a sharp uptick in market pricing for our re-refined products drove significant profitability during the quarter.”

Clean Harbors CEO, on the earnings call

Forward Guidance & Outlook

Clean Harbors raised full-year 2026 guidance, now expecting Adjusted EBITDA of $1.35 billion to $1.41 billion (midpoint raised by $110 million) and adjusted free cash flow of $520 million to $580 million (midpoint raised by $30 million). Full-year GAAP net income is expected in the range of $481 million to $531 million. For Q3 2026, the company expects Adjusted EBITDA to grow 24% to 28% year over year. Management cited positive demand trends across both segments, a U.S. Manufacturing PMI above 50 for the first six months of 2026, ongoing reshoring creating new customer opportunities, a growing PFAS pipeline in the U.S. and Canada, multiple large emergency response events supporting Q3 Field Services growth, a new strategic data center offering for Industrial Services, and favorable SKSS supply conditions extending into Q3.

CLH YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$500.0M$1.0B$1.5B$1.5B$1.7BRevenue$516.4M$608.8MGross Profit$210.3M$268.9MOperating Income$126.9M$170.5MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income

CLH Revenue by Segment

Environmental Services$1.4B+6.8%
Safety-Kleen Sustainability Solutions$290.5M+41.0%

Figures from SEC filings and company reports. Not investment advice.