Clean Harbors (CLH) Q2 2026 Earnings
How Did CLH Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +5.47%.
Did CLH Beat Earnings? Q2 2026 Results
Yes. Clean Harbors reported Q2 2026 earnings of $3.22 a share on Jul 29, 2026, beating the $2.81 consensus estimate by 14.6%. Revenue was $1.7B against a $1.6B estimate.
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.
- 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
What Is Clean Harbors's 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
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.7B | $1.5B | +12.0% |
| Gross Profit | $608.8M | $516.4M | +17.9% |
| Operating Income | $268.9M | $210.3M | +27.9% |
| Net Income | $170.5M | $126.9M | +34.3% |
CLH Revenue by Segment
When Does Clean Harbors Report Next?
Figures from SEC filings and company reports. Not investment advice.