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Clean Harbors (CLH) is North America’s leading provider of environmental and industrial services, specializing in hazardous and non-hazardous waste management, emergency response, and sustainability solutions. The company operates an extensive network of facilities and offers a wide range of services to over 300,000 customers, including Fortune 500 companies, across industries such as chemical, manufacturing, and automotive. Clean Harbors is committed to sustainability, recycling waste materials whenever possible, and helping customers achieve their environmental goals.
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Environmental Services - Provides hazardous and non-hazardous waste collection, transportation, treatment, and disposal, as well as industrial maintenance, emergency response, and environmental solutions. Key offerings include technical services, industrial cleaning, and field services.
- Technical Services - Manages waste disposal and remediation projects through incineration, landfill, and other methods.
- Industrial Services - Offers cleaning and maintenance for industrial facilities.
- Field and Emergency Response Services - Handles cleanup for spills, natural disasters, and emergencies.
- Safety-Kleen Environmental Services - Provides containerized waste handling, parts washer services, and vacuum services.
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Safety-Kleen Sustainability Solutions (SKSS) - Focuses on sustainability solutions, including waste oil collection, recycling, and sales of blended oil products. Also provides bulk automotive fluids and related environmental services.
- Used Oil Recycling - Re-refines and recycles used oil to support sustainability goals.
- Parts Washers and Automotive Fluids - Supplies parts washers and bulk fluids for commercial and industrial customers.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Alan S. McKim ExecutiveBoard | Executive Chairman of the Board | Trustee, Northeastern University Board of Trustees; Member, South Shore Health Board of Directors | Alan S. McKim founded Clean Harbors in 1980, serving as CEO and President until March 31, 2023, before transitioning to roles as Executive Chairman and Chief Technology Officer. He remains the largest individual shareholder and a key industry leader in environmental services. | |
Eric W. Gerstenberg ExecutiveBoard | Co-Chief Executive Officer and Co-President | Eric W. Gerstenberg is Co-Chief Executive Officer and Co-President of CLH since March 31, 2023. He previously served as Chief Operating Officer starting in January 2015 and was elected to the Board of Directors on August 29, 2024. | ||
Michael L. Battles ExecutiveBoard | Co-Chief Executive Officer and Co-President | Board Member at Casella Waste Systems, Inc. (member of Audit Committee and Nominating and ESG Committee) | Michael L. Battles is the Co-Chief Executive Officer and Co-President at Clean Harbors, Inc. since March 31, 2023. He previously served as Chief Financial Officer from January 2016 and joined Clean Harbors in September 2013 as Senior Vice President, Corporate Controller, and Chief Accounting Officer. | |
Brian P. Weber Executive | Executive Vice President and President of Safety-Kleen Sustainability Solutions | Brian P. Weber has been with Clean Harbors since 1990 and has served in key roles, including Executive Vice President, Corporate Planning and Development starting in 2010, before assuming his current role on March 31, 2023. | ||
Eric J. Dugas Executive | Executive Vice President and Chief Financial Officer | Eric J. Dugas has been serving as Executive Vice President and Chief Financial Officer at Clean Harbors, Inc. since March 31, 2023. Previously, he served as Senior Vice President, Finance and Chief Accounting Officer from January 2016 to March 2023. | ||
George L. Curtis Executive | Executive Vice President, Pricing & Proposals | George L. Curtis has served as the Executive Vice President, Pricing & Proposals at Clean Harbors since 2009. He joined Clean Harbors in 1980 and has held several roles, including Senior Vice President of Pricing and Proposals and Vice President of Marketing. | ||
Jeroen Diderich Executive | President of Environmental Sales & Services | Jeroen Diderich joined Clean Harbors in May 2024 as President of Environmental Sales & Services, bringing over 20 years of executive experience from roles at Avery Dennison and 11 years of industry expertise from SAPPI. | ||
Rebecca Underwood Executive | President, Facilities | Rebecca Underwood is the President, Facilities at Clean Harbors since August 2023, overseeing operations and facility management. She previously served as Executive Vice President of Facilities from June 2022 to August 2023 and has extensive leadership experience in companies such as Covanta, Honeywell, Air Products, and Ferro Corporation. | ||
Robert E. Speights Executive | President of Industrial Services | Robert E. Speights is the President of Industrial Services at Clean Harbors since early 2021, having joined the company as Chief Sales Officer in October 2018 with extensive experience in executive sales and operations. | ||
Robert Harrison Executive | Executive Vice President, Health & Safety | Robert Harrison has been serving as the Executive Vice President, Health & Safety at Clean Harbors since November 2022, and previously served as the Health, Safety and Environmental (HSD) and Quality Vice President at Air Liquide American Corporation from 2016 to 2022. | ||
Sharon M. Gabriel Executive | Executive Vice President and Chief Information Officer | Sharon M. Gabriel has served as the Executive Vice President and Chief Information Officer at Clean Harbors since October 2018, leading the company’s technology and cybersecurity initiatives. She joined Clean Harbors in 2001 and previously held the role of Senior Vice President of Management Information Systems. | ||
Alison A. Quirk Board | Independent Director, Class I | Independent Non-Executive Director at Janus Henderson Group plc; Member of the Compliance Committee at Wynn Resorts, Limited; Board Member at Legg Mason; Board Member at Embrace Boston | Alison A. Quirk has been serving as an Independent Director, Class I at CLH since 2022, where she also chairs the Compensation and Human Capital Committee and serves on the Corporate Governance and Sustainability Committee. | |
Andrea Robertson Board | Class III Director | Leadership Council of Prevent Child Abuse America | Andrea Robertson has served as a Class III Director and Chair of the Audit Committee at CLH since 2004. She brings extensive financial expertise from her previous roles, including as Group Executive, Corporate Treasurer at MasterCard Worldwide from 2003 to 2010. | |
John R. Welch Board | Director Class I | John R. Welch has served as Director Class I at CLH since 2014 and is active on several committees, including Compensation and Human Capital, Environmental, Health & Safety, and he chairs the Ad Hoc Cyber Committee as of Q1 2024. He brings over 30 years of experience in consulting, operations, and finance, notably with McKinsey & Company. | ||
John T. Preston Board | Director | Managing Partner at TEM Capital | John T. Preston serves as a Class II Director at Clean Harbors, Inc. since 1995 and chairs the Corporate Governance and Sustainability Committee, bringing extensive experience in technology development, corporate growth, and governance. | |
Karyn Polito Board | Class II Director | Independent Director at Berkshire Hills Bancorp, Inc.; Independent Director at The Andover Companies | Karyn Polito is a Class II Director at Clean Harbors since 2023. Previously, she served as the 72nd Lieutenant Governor of Massachusetts from 2015 to 2023 and has extensive experience in real estate development and law. | |
Lauren C. States Board | Director Class III | Director at Webster Financial Corporation; Director at NetBase Quid; Director at Code Nation; Trustee at International House, New York; Trustee at Mercy High School, Middletown, Connecticut | Lauren C. States has been a Director Class III at Clean Harbors, Inc. since 2016 and serves on multiple committees including the Compensation and Human Capital Committee and as Chair of the Environmental, Health and Safety Committee. She brings extensive leadership experience from a 36-year career at IBM where she held roles including Vice President, Strategy and Transformation and Chief Technology Officer. | |
Marcy L. Reed Board | Director Class II | Board member at Edison International; Independent Director at Blue Cross Blue Shield of Massachusetts; Board member at Northeastern University; Board member at Qualus | Marcy L. Reed has served as Director Class II at CLH since 2021. She brings extensive industry experience from her long career at National Grid and her expertise in accounting, regulatory, and energy sectors. | |
Robert J. Willett Board | Class III Director | Cognex Board of Directors | Robert J. Willett has been the Class III Director at Clean Harbors since 2019, serving on the Compensation and Human Capital Committee and Corporate Governance and Sustainability Committee. He brings extensive leadership experience from previous roles, including his long-standing board membership at Cognex since 2011. | |
Shelley Stewart Board | Class I Director | Managing Partner at Bottom Line Advisory LLC ; Board Member at Otis Worldwide Corporation (NYSE:OTIS) ; Board Member at Kontoor Brands Inc. (NYSE:KTB) ; Trustee at Howard University ; Governor at University of New Haven | Shelley Stewart, Jr. has been serving as a Class I Director at Clean Harbors since 2022. He is an active member of the Audit and Environmental, Health, and Safety Committees, leveraging his extensive background in procurement and supply chain management from prior roles at DuPont, Tyco International, and others. |
- With the shift to a charge-for-oil model in the SKSS segment and the noted impact of higher cost inventory in Q1, can you detail how you plan to manage inventory and pricing volatility in the near term?
- Given the strong demand in the Phoenix area tied to the semiconductor vertical, how are you balancing this rapid geographic expansion against potential margin pressures from increased capital spending?
- Facing rising labor, benefits, and other expense pressures, how do you expect to sustain the strong organic growth in Field Services and Industrial Services moving forward?
- In light of the start-up challenges with the new Kimball incinerator impacting early EBITDA contributions, what specific measures are you implementing to ensure a faster ramp-up and mitigate similar risks in future projects?
- Despite an active pipeline in the PFAS opportunity, you did not build significant revenue growth into current guidance; can you elaborate on the expected timeline and key milestones for material PFAS revenue contribution amid regulatory uncertainties?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Veolia North America | This company is one of the principal national firms competing in the industrial and automotive waste services sector, providing one or more of the products and services offered by the company. |
This company is listed as a principal national competitor in the industrial and automotive waste services sector, offering similar services to those provided by the company. | |
This company is a major competitor in the industrial and automotive waste services industry, providing overlapping services with the company. | |
This company, which acquired Stericycle, Inc. in late 2024, is a key competitor in the industrial and automotive waste services sector. | |
Stericycle, Inc. | This company was a competitor in the industrial and automotive waste services sector before its acquisition by Waste Management in late 2024. |
This company is identified as a principal national competitor in the industrial and automotive waste services industry. | |
Heritage-Crystal Clean | This company, a portfolio company of J.F. Lehman & Company, is a significant competitor in the industrial and automotive waste services sector, particularly in the United States. |
CEDA | This company is a principal national competitor in Canada for industrial, field, and emergency response services. |
Secure Energy Services | This company is a key competitor in Canada for industrial, field, and emergency response services. |
Motiva Enterprises LLC | This company competes in the production of base oil, which is a market segment of the company's Safety-Kleen Sustainability Solutions segment. |
This company is a competitor in the production of base oil, competing with the company's KLEEN+ base oil produced at its re-refineries. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Hepaco Blocker, Inc. and its subsidiaries | 2024 | The acquisition, completed on March 22, 2024, had an all-cash purchase price adjusted to $392.2 million (initially approximately $395.4 million) financed partly with $500 million in term loans; it strategically expands Clean Harbors' Environmental Services segment into specialized environmental and emergency response services. |
Noble Oil Services, Inc. and its subsidiaries | 2024 | Completed on March 1, 2024, for an all-cash price of $68.7 million, this acquisition expands the Safety-Kleen Sustainability Solutions segment’s oil collection operations and adds incremental production from a re-refinery, impacting both revenues and associated cost structures. |
Thompson Industrial Services, LLC | 2023 | Closed on March 31, 2023, with a final adjusted purchase price of $110.9 million (down from $111.9 million), this deal broadens Clean Harbors' industrial service operations in the southeastern U.S. and key verticals such as paper, mining, and power; its financial impact was deemed immaterial to consolidated financials. |
Privately-owned business | 2022 | Completed on June 17, 2022, for an all-cash purchase price of $78.6 million (including a $4.8 million working capital adjustment), the acquisition enhances SKSS’s waste oil collection and re-refining capabilities in the southeast, notably adding a re-refinery in Georgia, with the acquired goodwill being tax-deductible. |
Recent press releases and 8-K filings for CLH.
- Discussion on expanding hazardous waste disposal capacity through high-barrier incinerator assets, including new facilities at Kimball and Nebraska, to address tight market constraints.
- Analysis of evolving market dynamics with a decline in captive incinerators amid growing base hazardous waste volumes, which may encourage strategic closures and enhanced partnerships.
- Introduction of total PFAS solutions, featuring a Utah incinerator that has successfully completed extensive testing with the EPA and DoD, positioning the company as a unique provider in PFAS remediation.
- Review of Vision 2027 strategy highlighting strong environmental services performance, $0.5 billion in acquisitions in 2024, and significant capital investments such as the $210 million Kimball project targeting mid-to-high teens returns and a 4-5 year payback period.
- 2024 performance: Clean Harbors delivered 9% revenue and 10% EBITDA growth, driven by a robust Environmental Services segment (85-90% of the business) with notable volume increases (12-15% in drum collection) and favorable pricing strategies.
- 2025 outlook: For Environmental Services, the company guides to 6-7% growth in 2025, aligning with its long-term Vision 2027, while incinerator utilization and pricing improvements support margin expansion (e.g., Q4 incinerator utilization reached 94%).
- Strategic investments: The new incinerator project in Kimball, Nebraska involved a $210 million investment with an expected incremental EBITDA of $40-45 million at full capacity by 2026, reflecting the company's focus on replicating successful models and optimizing capacity.
- PFAS and M&A strategy: Clean Harbors is enhancing its comprehensive PFAS remediation capabilities including water filtration, soil remediation, and incineration, while continuing targeted M&A (such as the HEPACO acquisition) to fill geographic gaps and boost market share.
- Clean Harbors delivered strong Q4 2024 performance with revenues increased 7% to $1.43 billion, net income of $84.0 million (EPS $1.55), record Q4 adjusted EBITDA of $257 million, and cash from operations of $303.9 million .
- Full‑year figures showed revenues of $5.89 billion, net income of $402.3 million (EPS $7.42), and Adjusted EBITDA of $1.12 billion, supported by full‑year revenue growth of 11% .
- The company provided FY2025 guidance with net income of $376–$427 million, Adjusted EBITDA of $1,150–$1,210 million, and Adjusted Free Cash Flow of $430–$490 million .
- Strategic initiatives include the commercial launch of the state‑of‑the‑art incinerator in Kimball, Nebraska, disciplined capital allocation with share repurchases, and an active M&A pipeline .
- Segment highlights: Environmental Services (ES) recorded robust growth with increased containerized waste volumes, while the SKSS segment encountered declines due to soft demand and base oil pricing, prompting proactive cost‐cutting measures .
- Environmental Services remains a key focus as the business achieved approximately 7% organic growth over the first nine months, driven by favorable regulatory trends and pricing strategies.
- The recent launch of the Kimball, Nebraska incinerator represents a major project with a $200 million investment, expected to contribute $8–12 million in EBITDA in 2025 and potentially scale to a long-term target of $40 million.
- The integration of the HEPACO acquisition has delivered notable synergies, including improved emergency response capabilities and a strengthened nationwide field services network.
- The company is advancing its strategy in PFAS remediation, with ongoing emissions tests and efforts to market its large-scale incineration solution amid heightened environmental regulatory focus.