Earnings summaries and quarterly performance for CLEAN HARBORS.
Executive leadership at CLEAN HARBORS.
Eric Gerstenberg
Detailed
Co-Chief Executive Officer and Co-President
CEO
Michael Battles
Detailed
Co-Chief Executive Officer and Co-President
CEO
AM
Alan McKim
Detailed
Founder, Executive Chairman of the Board, and Chief Technology Officer
BW
Brian Weber
Detailed
Executive Vice President and President, Safety-Kleen Sustainability Solutions
ED
Eric Dugas
Detailed
Executive Vice President and Chief Financial Officer
GC
George Curtis
Detailed
Executive Vice President, Pricing & Proposals
JD
Jeroen Diderich
Detailed
President of Environmental Sales & Service
RU
Rebecca Underwood
Detailed
President, Facilities
RH
Robert Harrison
Detailed
Executive Vice President, Health & Safety
RS
Robert Speights
Detailed
President, Industrial Services
SG
Sharon Gabriel
Detailed
Executive Vice President and Chief Information Officer
Board of directors at CLEAN HARBORS.
AQ
Alison Quirk
Detailed
Director
AR
Andrea Robertson
Detailed
Director
EG
Edward Galante
Detailed
Lead Independent Director
JP
John Preston
Detailed
Director
JW
John Welch
Detailed
Director
KP
Karyn Polito
Detailed
Director
LS
Lauren States
Detailed
Director
MR
Marcy Reed
Detailed
Director
RW
Robert Willett
Detailed
Director
SS
Shelley Stewart Jr.
Detailed
Director
Research analysts who have asked questions during CLEAN HARBORS earnings calls.
David Manthey
Robert W. Baird & Co. Incorporated
7 questions for CLH
Also covers: AIT, BECN, BLDR +13 more
Noah Kaye
Oppenheimer & Co. Inc.
7 questions for CLH
Also covers: AAON, AMRC, BWA +16 more
Tobey Sommer
Truist Securities, Inc.
7 questions for CLH
Also covers: AMN, AMTM, ASGN +26 more
JR
James Ricchiuti
Needham & Company, LLC
6 questions for CLH
Also covers: AEIS, BELFA, BHE +20 more
JS
James Schumm
TD Cowen
5 questions for CLH
Also covers: CWST, GFL, HLX +5 more
Tyler Brown
Raymond James Financial, Inc.
5 questions for CLH
Also covers: CWST, MLM, ODFL +7 more
AB
Adam Bubes
Goldman Sachs Group, Inc.
4 questions for CLH
Also covers: ACM, CAMP, CWST +7 more
LS
Lawrence Solow
CJS Securities, Inc.
4 questions for CLH
Also covers: BTSG, CDRE, CODI +13 more
PB
Patrick Brown
Raymond James
4 questions for CLH
Also covers: BLX, CWST, EXP +8 more
LS
Larry Solow
CJS Securities
3 questions for CLH
Also covers: ARCB, BTSG, CDRE +14 more
BB
Brian Butler
Stifel, Nicolaus & Company, Incorporated
2 questions for CLH
Also covers: CWST, GEF, GFL +8 more
DB
Davis Baynton
BMO Capital Markets
2 questions for CLH
Also covers: NVRI
CG
Chris Grenga
Needham & Company
1 question for CLH
Also covers: AEIS, CECO, FARO +6 more
JR
Jerry Revich
Goldman Sachs Group Inc.
1 question for CLH
Also covers: AGCO, ALSN, ATMU +28 more
JR
Jim Ricchiuti
Needham & Company
1 question for CLH
Also covers: CECO, FARO, MEG +1 more
TT
Timna Tanners
Wolfe Research
1 question for CLH
Also covers: AA, AMRZ, ATI +19 more
Tyler Barishaw
Truist Securities
1 question for CLH
Also covers: BCO, EXPO, FCN +3 more
Recent press releases and 8-K filings for CLH.
Clean Harbors Discusses Business Unit Performance, Margin Expansion, and 2026 Outlook
CLH
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Clean Harbors' Environmental Services segment is projected to achieve an EBITDA margin of approximately 26% for full year 2025, representing a 70 basis points improvement from the previous year and exceeding its Vision 2027 goals. The company aims for a long-term margin of over 30% in this segment.
- The Tech Services business grew 12% in Q3, while Safety-Kleen Environmental Services grew 7% in Q3. However, Field Services experienced slower growth in 2025 due to fewer large emergency response jobs, and Industrial Services saw slower performance over the last 12 months due to customer cost pressures.
- PFAS-related work generated $120 million in 2025 and is expected to grow 15%-20% annually, with a pipeline growing even faster. The company anticipates significant opportunities from the Defense Authorization Act and EPA rulemaking in 2026.
- The new Kimball, Nebraska incinerator contributed approximately $10 million in EBITDA in 2025 and is projected to double its EBITDA contribution in 2026 to $20-$25 million, reaching a $40 million run rate by the end of 2026.
- The company anticipates a more favorable environment in 2026 compared to 2025, with easing tariff uncertainties, improving crack spreads, and interest rate help expected to drive increased production and capital spending from customers.
12 hours ago
Clean Harbors Discusses 2025 Performance and 2026 Growth Catalysts
CLH
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Clean Harbors expects to finish 2025 with approximately $6 billion in revenue, with the Environmental Services segment contributing $5 billion and Safety-Kleen Sustainability Solutions $1 billion.
- The Environmental Services segment is projected to achieve an operating margin of about 26% in 2025, representing a 70 basis points improvement from the prior year, driven by pricing strategies and volume growth, with a long-term goal of exceeding 30%.
- The new Kimball incinerator is anticipated to contribute $10 million in EBITDA in 2025, with this contribution expected to double to $20-$25 million in 2026, and reach a $40 million run rate by the end of 2026 for 2027 and beyond.
- PFAS-related work generated $120 million in 2025 and is forecast to grow 15%-20% annually, with significant future opportunities from regulatory developments and military disposal guidelines.
- Key growth tailwinds for 2026 include reshoring activity, improving crack spreads, increased capital spending due to interest rate changes, and opportunities from AI data center build-out.
12 hours ago
Clean Harbors Discusses 2025 Performance, 2026 Outlook, and Growth Drivers
CLH
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Clean Harbors expects to finish 2025 with approximately $6 billion in revenue, with its Environmental Services segment contributing about $5 billion and Safety-Kleen Sustainability Solutions about $1 billion.
- The company has achieved over 500 basis points of margin expansion in the last five years, with an anticipated 70 basis points of growth in 2025, and a long-term goal to exceed 30% margins.
- PFAS-related work generated about $120 million in 2025 and is projected to grow 15%-20% annually. The new Kimball incinerator contributed close to $10 million in EBITDA in 2025, with expectations to double in 2026 to $20-$25 million and reach a $40 million run rate by the end of 2026 for fiscal 2027 and beyond.
- Management foresees positive tailwinds for 2026, including increased customer production, improving crack spreads, and benefits from the Infrastructure Investment and Jobs Act, which are expected to drive continued growth and profitability.
12 hours ago
Clean Harbors Reviews 2025 Performance and 2026 Outlook at Needham Conference
CLH
Guidance Update
New Projects/Investments
Share Buyback
- Clean Harbors' Co-CEO, Mike Battles, indicated that 2025 Adjusted EBITDA guidance narrowed, with the SK Oil business stabilizing at an expected $140 million EBITDA after a strategic shift to focus on high-value used motor oil.
- The Environmental Services segment showed mixed results in the first nine months of 2025, with Technical Services and SK Branch businesses growing 7-12%, while the Industrial Services business experienced a 5% revenue decline due to postponed turnarounds.
- The company achieved 14 consecutive quarters of year-over-year margin growth in Environmental Services, driven by pricing discipline, the new Kimball incinerator, and 20% growth in the PFAS business.
- The Kimball incinerator is expected to contribute $8-$10 million in incremental EBITDA in 2025, with projections to increase to $20-$30 million in 2026 and a full run rate potential of $40 million.
- Clean Harbors ended 2025 with $1 billion in cash and leverage under two times, executing the highest share buybacks in company history while maintaining a disciplined M&A strategy focused on smaller, privately-owned assets.
1 day ago
Clean Harbors Discusses 2025 Performance and 2026 Outlook at Needham Growth Conference
CLH
Guidance Update
New Projects/Investments
Share Buyback
- Clean Harbors' 2025 Adjusted EBITDA guidance narrowed towards the lower end, primarily due to a challenging Industrial Services (IS) business with negative 5% revenue growth for the first nine months and the SK Oil business stabilizing at around $140 million in EBITDA after a strategic shift.
- Despite some headwinds, the Environmental Services segment achieved 14 consecutive quarters of year-over-year margin growth, driven by strong performance in Technical Services and Safety-Kleen branch businesses (both with 7-12% revenue growth for the first nine months of 2025), pricing discipline, and PFAS growth.
- Key growth initiatives include the new Kimball incinerator, expected to contribute $8-$10 million in incremental EBITDA in 2025, increasing to $20-$30 million in 2026, and $40 million at full run rate. The PFAS remediation business grew 20% in 2025 and is projected to maintain this growth rate, including a new $15-$30 million revenue project in Pearl Harbor.
- The company ended 2025 with $1 billion in cash and leverage under two times, leading to the highest share buybacks in company history due to high M&A multiples. Clean Harbors is also investing $180 million in an SKSF re-refinery add-on and developing "mega hubs" to enhance margins.
1 day ago
Clean Harbors Discusses 2025 Performance, Growth Drivers, and Capital Allocation
CLH
Guidance Update
New Projects/Investments
Share Buyback
- Clean Harbors' 2025 performance included Adjusted EBITDA guidance narrowing towards the lower end, primarily due to a negative 5% revenue growth in the Industrial Services segment for the first nine months, though the SK Oil business stabilized after a strategic shift.
- The Environmental Services business demonstrated strength with 14 consecutive quarters of year-over-year margin growth, driven by 7% revenue growth in Technical Services and Safety-Kleen branch business for the first nine months of 2025, and disciplined pricing.
- Key growth drivers include the PFAS remediation business, which grew 20% in 2025 and is projected for continued 20% growth, and the new Kimball incinerator, expected to contribute $8-$10 million in incremental EBITDA in 2025 and $20-$30 million in 2026.
- The company concluded 2025 with $1 billion in cash and leverage under two times, facilitating the highest share buybacks in its history and a disciplined M&A approach focused on smaller, accretive opportunities.
1 day ago
Clean Harbors Discusses Margin Expansion, Incinerator Growth, PFAS Opportunity, and Capital Allocation
CLH
New Projects/Investments
Revenue Acceleration/Inflection
Share Buyback
- Clean Harbors' Environmental Services business has expanded margins by 480 basis points since 2019, with current margins just over 26% and a long-term goal of 30% and above.
- The new Kimball Incinerator is expected to generate $10 million in EBITDA this year (2025), with projections of $25 million-$30 million in 2026, and an exit run rate of $40 million incremental EBITDA for 2027.
- The PFAS opportunity is a significant growth area, currently generating $100 million-$120 million in revenue this year (2025) (growing 20%-25%) and includes a new $110 million contract over three years for water treatment at Pearl Harbor.
- The company is focusing on high-return organic investments, planning over $500 million in internal initiatives, including a $200 million+ processing plant and projects to increase incinerator throughput, alongside continued share buybacks.
Dec 4, 2025, 3:50 PM
Clean Harbors Discusses Margin Expansion, Incinerator Growth, PFAS Opportunity, and Capital Allocation
CLH
New Projects/Investments
Revenue Acceleration/Inflection
Share Buyback
- Clean Harbors' Environmental Services (ES) business has expanded margins by 480 basis points since 2019, with a target to reach 30% and above from just over 26% this year, driven by volume, pricing, and strategic tailwinds.
- The new Kimball incinerator is projected to achieve $10 million in EBITDA this year, with an incremental $40 million EBITDA run rate by 2027. The company also anticipates significant opportunities from the potential closure of 41 captive incinerators.
- PFAS-related revenues are a growing segment, currently estimated at $100 million - $120 million this year and growing 20%-25%. A recent $110 million revenue contract over three years for water filtration at Pearl Harbor highlights this growth.
- The company is prioritizing high-return internal organic investments, planning over $500 million in initiatives, including a $200 million+ processing plant, and has increased share buybacks in 2025 due to disciplined M&A valuations.
Dec 4, 2025, 3:50 PM
Clean Harbors Reports Mixed Q3 Results and Raises Full-Year EBITDA Guidance
CLH
Earnings
Guidance Update
New Projects/Investments
- Clean Harbors reported third-quarter earnings per share of $2.21 and revenues of $1.55 billion, narrowly missing Wall Street expectations.
- Despite the short-term miss, the company raised its full-year adjusted EBITDA guidance to a range of $1.16 billion to $1.18 billion.
- The company's stock experienced a 12% drop following the earnings announcement, marking its largest decline since March 2020.
- Clean Harbors is investing $220 million in a facility upgrade focused on recycling and environmental efficiency.
Oct 29, 2025, 3:03 PM
CLH Reports Strong Q3 2025 Results, Raises Free Cash Flow Guidance, and Announces New SDA Unit Investment
CLH
Earnings
Guidance Update
New Projects/Investments
- CLH reported Q3 2025 revenue of $1.55 billion and adjusted EBITDA of $320 million, a 6% increase year-over-year, with an adjusted EBITDA margin of 20.7%. Earnings per share reached $2.21.
- The company achieved a record Q3 adjusted free cash flow of $231 million, up $86 million year-on-year, and held $850 million in cash and short-term marketable securities at quarter-end.
- Full-year 2025 adjusted EBITDA guidance was revised to $1.155 billion to $1.175 billion, and adjusted free cash flow guidance was raised to a midpoint of $475 million, reflecting over 30% growth from 2024.
- CLH announced plans for a new SDA unit investment of $210 million to $220 million, expected to generate $30 million to $40 million in annual EBITDA upon its 2028 commercial launch.
- The company repurchased over 208,000 shares for $50 million in Q3, with approximately $380 million remaining under its share repurchase authorization, while actively pursuing M&A opportunities.
Oct 29, 2025, 1:00 PM
Quarterly earnings call transcripts for CLEAN HARBORS.
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