Clean Harbors Q2 revenue beats estimates on strong disposal and recycling demand

Clean Harbors

29/07/2026 12:42

Overview
US environmental services firm's Q2 revenue rose 12%, beating analyst expectations
Q2 adjusted EBITDA grew 22% and beat analyst expectations
Company announced $600 mln ten-year disposal contract and $305 mln ES&H acquisition

Outlook
Clean Harbors raises 2026 guidance for adjusted EBITDA to $1.35 bln-$1.41 bln
Company expects 2026 adjusted free cash flow of $520 mln-$580 mln
Clean Harbors sees Q3 adjusted EBITDA growing 24%-28% year over year

Result Drivers
DISPOSAL AND RECYCLING DEMAND - Co said Environmental Services segment benefited from healthy volumes in disposal and recycling, remediation projects, PFAS-related work, and strategic pricing to offset inflation and fuel costs
RE-REFINED PRODUCTS PRICING - Co said SKSS segment profitability was driven by a sharp uptick in market pricing for re-refined products due to global supply disruptions
WASTE OIL COLLECTION MANAGEMENT - Co said collections team actively managed waste oil collection volumes and costs, gathering 61 mln gallons and increasing revenues from used oil collection services

Company press release: ID:nBw1hqXhLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.74 bln
$1.64 bln (14 Analysts)
Q2 EPS
 
$3.22
 
Q2 Net Income
 
$170.50 mln
 
Q2 Adjusted EBITDA
Beat
$409 mln
$367.51 mln (15 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the environmental services & equipment peer group is "buy"
Wall Street's median 12-month price target for Clean Harbors Inc is $330.00, about 8.7% above its July 28 closing price of $303.67
The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 34 three months ago

Reuters Recommended Reads
July 28 - Waste Management lowers 2026 revenue forecast amid pullback from residential business
July 29 - Canada's Secure Waste Q2 revenue rises on new projects
July 28 - Veralto Q2 results beat estimates on industrial water treatment demand; raises outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)