Clean Harbors (NYSE:CLH) Releases Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Key Points

• Clean Harbors beat quarterly expectations: EPS came in at $3.22 versus the $2.81 consensus, while revenue rose 11.9% year over year to $1.74 billion.
• Record operating performance led to higher guidance: Adjusted EBITDA increased 22% to $409 million, producing a company-record 23.6% margin. Management raised 2026 adjusted EBITDA guidance to $1.38 billion and adjusted free cash flow guidance to $550 million.
• Growth opportunities expanded: Clean Harbors secured a 10-year, approximately $600 million waste-disposal contract and is developing data-center services, targeting about $200 million in annual revenue from that market by 2028.

Clean Harbors (NYSE:CLH - Get Free Report) released its quarterly earnings data on Wednesday. The business services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $2.81 by $0.41, FiscalAI reports. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the company earned $2.36 EPS. Clean Harbors's revenue for the quarter was up 11.9% on a year-over-year basis.

Here are the key takeaways from Clean Harbors' conference call:

• Record Q2 performance: Revenue rose 12% to $1.74 billion, adjusted EBITDA increased 22% to $409 million, and the 23.6% margin was the highest in company history. Management cited strength in both Environmental Services and Safety-Kleen Sustainability Solutions.
• 2026 guidance was raised substantially: Adjusted EBITDA guidance increased by $110 million at the midpoint to $1.38 billion, implying approximately 18% growth, while adjusted free cash flow guidance rose to $550 million.
• Clean Harbors won a 10-year manufacturing waste-disposal contract valued at approximately $600 million, expected to ramp toward an $80 million-$100 million annual revenue run rate by 2030. Management views the agreement as evidence of reshoring-driven demand and customers’ preference for integrated waste providers.
• The company is expanding into data-center services, with work already secured at 10 sites and a target of approximately $200 million in annual revenue by 2028. It plans to invest $50 million over three years in specialty equipment, tankage, and vehicles to support the opportunity.
• Safety-Kleen Sustainability Solutions delivered a sharp rebound, including a 143% increase in adjusted EBITDA, as lubricant shortages lifted base-oil pricing and demand. Management expects favorable conditions to continue into Q3 but anticipates pricing to decline in Q4, underscoring the segment’s ongoing cyclicality.

Clean Harbors Stock Performance

Shares of NYSE:CLH traded up $25.27 during trading on Wednesday, hitting $328.94. The company's stock had a trading volume of 630,425 shares, compared to its average volume of 513,000. The company has a 50-day moving average of $293.69 and a 200-day moving average of $287.51. Clean Harbors has a 12 month low of $201.34 and a 12 month high of $335.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.34 and a quick ratio of 1.99. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 44.48 and a beta of 0.86.

Insider Transactions at Clean Harbors

In related news, Director Lauren States sold 789 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the sale, the director directly owned 11,359 shares in the company, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Durable Capital Partners LP bought a new stake in shares of Clean Harbors during the 3rd quarter valued at $133,217,000. Two Sigma Investments LP raised its holdings in Clean Harbors by 148.3% in the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider's stock worth $89,287,000 after purchasing an additional 229,666 shares during the period. Corient Private Wealth LLC lifted its position in Clean Harbors by 3,782.7% during the fourth quarter. Corient Private Wealth LLC now owns 194,718 shares of the business services provider's stock valued at $45,657,000 after purchasing an additional 189,703 shares in the last quarter. FIL Ltd lifted its position in Clean Harbors by 88.4% during the fourth quarter. FIL Ltd now owns 352,690 shares of the business services provider's stock valued at $82,699,000 after purchasing an additional 165,517 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Clean Harbors by 28.0% during the third quarter. Bank of America Corp DE now owns 454,094 shares of the business services provider's stock valued at $105,450,000 after purchasing an additional 99,408 shares during the period. Hedge funds and other institutional investors own 90.43% of the company's stock.

Analysts Set New Price Targets

CLH has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Barclays increased their price objective on shares of Clean Harbors from $304.00 to $305.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Bank of America started coverage on shares of Clean Harbors in a report on Monday. They issued a "buy" rating and a $360.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Clean Harbors from $268.00 to $306.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 8th. Finally, Robert W. Baird boosted their target price on shares of Clean Harbors from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Clean Harbors has a consensus rating of "Moderate Buy" and a consensus target price of $330.21.

Clean Harbors Company Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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