Q1 26 EPS
$1.19
BEAT +3.41%
Est. $1.15
Q1 26 Revenue
$1.46B
MISS 0.68%
Est. $1.47B
vs S&P Since Q1 26
-7.7%
TRAILING MARKET
CLH -2.0% vs S&P +5.7%
Market Reaction
Did CLH Beat Earnings? Q1 2026 Results
Clean Harbors delivered a beat-and-raise quarter in Q1 2026, posting adjusted EPS of $1.19 against a consensus estimate of $1.15, a 3.41% beat, even as revenue of $1.46 billion came in just 0.68% shy of the $1.47 billion Wall Street expected, represe… Read more Clean Harbors delivered a beat-and-raise quarter in Q1 2026, posting adjusted EPS of $1.19 against a consensus estimate of $1.15, a 3.41% beat, even as revenue of $1.46 billion came in just 0.68% shy of the $1.47 billion Wall Street expected, representing 1.9% growth year over year. The core driver behind the earnings strength was broad-based profitability improvement across both operating segments, with Environmental Services benefiting from a 5% rise in Technical Services revenue on strong PFAS-related project demand and landfill volumes surging 34%, while the Safety-Kleen Sustainability Solutions segment expanded Adjusted EBITDA by 17% to $32.98 million on a favorable charge-for-oil pricing strategy and rising base oil prices. Management rewarded investors with a raised full-year 2026 outlook, lifting its Adjusted EBITDA guidance midpoint by $40 million to a range of $1.24 billion to $1.30 billion and nudging adjusted free cash flow guidance to $490 million to $550 million, reflecting confidence in sustained environmental services demand from reshoring activity and PFAS remediation trends.
Key Takeaways
- • ES segment delivered 16th consecutive quarter of year-over-year Adjusted EBITDA margin improvement
- • Technical Services revenue grew 5% on demand for disposal, recycling, and PFAS-related work
- • Safety-Kleen Environmental Services revenue within ES increased 7% driven by pricing and core offerings growth
- • Landfill volumes rose 34% due to sizeable project activity
- • Field Services revenue grew 7% including a large-scale emergency project generating approximately $10 million
- • SKSS segment Adjusted EBITDA grew 17% with 320-basis-point margin improvement
- • Charge-for-oil (CFO) pricing strategy and late-quarter surge in base oil pricing benefited SKSS
- • Collected 53 million gallons of waste oil
- • Incineration utilization at 80% reflecting planned maintenance and weather impacts
CLH YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CLH Revenue by Segment
With YoY comparisons, source: SEC Filings
“We began 2026 with better-than-expected first-quarter results, including higher profitability in both of our operating segments. Our Environmental Services (ES) segment delivered its 16th consecutive quarter of year-over-year Adjusted EBITDA margin improvement, navigating challenging weather conditions that impacted our collection and services businesses. At the same time, our Safety-Kleen Sustainability Solutions (SKSS) segment benefited from our continued focus around charge-for-oil (CFO) services and a late-quarter surge in base oil pricing. Our safety performance was outstanding, with the team achieving the lowest quarterly Total Recordable Incident Rate in our history at 0.39.”
— Eric Gerstenberg, Q1 2026 Earnings Press Release
CLH Earnings Trends
CLH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CLH EPS Trend
Earnings per share: estimate vs actual
CLH Revenue Trend
Quarterly revenue: estimate vs actual
CLH Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.81 | $3.22 | +14.59% | $1.74B | +5.55% |
| Q1 26 BEAT | $1.15 | $1.19 | +3.41% | $1.46B | -0.68% |
| Q4 25 BEAT FY | $1.60 | $1.62 | +1.50% | $1.50B | +2.44% |
| FY Full Year | $7.25 | $7.28 | +0.38% | $6.03B | +0.60% |
| Q3 25 MISS | $2.39 | $2.21 | -7.56% | $1.55B | -1.43% |
| Q2 25 MISS | $2.39 | $2.36 | -1.16% | $1.55B | -2.65% |
| Q1 25 BEAT | $1.05 | $1.09 | +3.62% | $1.43B | -0.62% |