Vision 2027 Targets
Q: On track for EBITDA, FCF Vision 2027?
A: Management is confident about reaching the Vision 2027 targets by balancing disciplined acquisitions and organic growth, supported by strong cash flow and prudent capital allocation. "

Transformational M&A
Q: Appetite for transformational deals?
A: The team remains open to both large and small transformative deals that align with their strategic criteria and support the Vision 2027 expansion plan. "

Margin Outlook
Q: Can you achieve a 30% ES margin by 2027?
A: With record Q2 margins and effective cost leverage, management believes that reaching a 30% Environmental Services margin is within reach as efficiencies continue. "

HEPACO Integration
Q: What’s behind the higher HEPACO EBITDA guidance?
A: Accelerated integration, improved field service performance, and lower employee turnover have boosted HEPACO’s EBITDA by $5 million, reflecting faster-than-expected synergies. "

M&A Pipeline
Q: How strong is your M&A pipeline?
A: There is a robust pipeline across both Environmental Services and the oil segments, underscoring a disciplined approach to strategic acquisitions that drive growth. "

Government Spending Impact
Q: How will IIJA spending affect earnings?
A: Although direct quantification is challenging, a strong project pipeline fueled by government infrastructure spending is expected to bolster performance into 2025. "

Business Momentum Drivers
Q: Why did Q2 perform robustly despite challenges?
A: Tight market conditions and diversified growth across waste management and related services have contributed to solid Q2 performance and sustained momentum. "

PFAS Regulatory Outlook
Q: Will a new administration affect PFAS rules?
A: Management does not expect changes; PFAS and other related environmental regulations remain stable, unaffected by political transitions or Chevron-related issues. " "

SKSS Pricing Outlook
Q: What is the trend in SKSS oil pricing?
A: A conservative view on oil pricing, coupled with steady blended sales and Group III progress, supports modest revenue growth of 3–5% in the SKSS segment. "

Incinerator Pricing & Capacity
Q: Does new incinerator capacity change pricing?
A: No material pricing changes are anticipated; new capacity will ramp up while the company continues to drive overall network price improvements. " "

Kimball Revenue Impact
Q: How will the Kimball incinerator affect revenue?
A: The state-of-the-art Kimball incinerator will add significant capacity, boosting revenue across multiple waste streams in the Technical Services network. "

Group III Scaling
Q: How will Group III production scale?
A: Early successes and a promising incremental production pipeline suggest that Group III could add 20–25 million gallons over the next couple of years. "

Electricity Growth Exposure
Q: What is the exposure to U.S. electricity growth?
A: Through its Field Services, the company supports major utilities and is well-positioned to benefit from increased infrastructure investments in the U.S.. "

ER Revenue Sustainment
Q: Will emergency response revenue persist?
A: Although Q2 saw $24 million from large events, most of these one-off items are expected to wind down in future quarters. " "

PFAS Testing & Trends
Q: Update on PFAS incineration testing and trends?
A: The OTM 50 testing is proceeding on schedule for the fall, and customer interest is growing across analytical, remediation, and water treatment services. " "

Captive Incinerators Impact
Q: Could captive incinerators close as capacity rises?
A: Rising regulatory and operational costs may lead to closures of captive units, potentially creating greater opportunities for Clean Harbors' commercial offerings. "