Clean Harbors (NYSE:CLH) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Clean Harbors (NYSE:CLH) issued its earnings results on Wednesday. The business services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.03, Briefing.com reports. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year.

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

• Clean Harbors delivered a record 2025 with > $6 billion in revenue, Adjusted EBITDA of ~$1.17 billion (up ~5%), and a record $509 million in adjusted free cash flow while expanding margins.
• The Environmental Services segment showed continued strength (15th straight quarter of YoY margin expansion) and accelerating PFAS momentum — highlighted by the EPA study, a Senate hearing, and a $110 million Pearl Harbor contract — with management modeling only a 20% PFAS business growth for 2026.
• Management is active on capital allocation: signed a ~$130 million acquisition (DCI businesses) expected to add ~$11 million EBITDA, approved a $50 million vacuum truck expansion (targeting $12–14M incremental EBITDA in 2028), and executed record repurchases ($250M in 2025) with ~$600M buyback capacity remaining.
• Safety‑Kleen (SKSS) faces continuing base‑oil price headwinds — Q4 revenue softened despite a Q4 EBITDA lift from higher collection charges — and guidance assumes SKSS Adjusted EBITDA of ~$135 million with Q1 softness and a slight base‑oil price decline embedded.
• 2026 guidance is conservative: Adjusted EBITDA of $1.20B–$1.26B (midpoint ~$1.23B, ~5% growth), adjusted free cash flow of $480M–$540M (mid $510M), and net CapEx ~ $340M–$400M (plus SDA/fleet spends), leaving upside if industrial activity or PFAS regulation accelerates.

Clean Harbors Price Performance

CLH opened at $281.32 on Friday. The company has a market capitalization of $15.03 billion, a P/E ratio of 38.64 and a beta of 0.96. The company has a 50-day moving average of $254.57 and a 200-day moving average of $239.85. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.33. Clean Harbors has a 1-year low of $178.29 and a 1-year high of $286.45.

Insiders Place Their Bets

In related news, CEO Eric W. Gerstenberg sold 601 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total value of $144,780.90. Following the completion of the sale, the chief executive officer directly owned 50,454 shares of the company’s stock, valued at $12,154,368.60. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

A number of institutional investors have recently made changes to their positions in CLH. T. Rowe Price Investment Management Inc. lifted its stake in Clean Harbors by 69,453.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,081 shares of the business services provider’s stock worth $7,992,000 after purchasing an additional 34,032 shares during the last quarter. Corient Private Wealth LLC increased its stake 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 during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Clean Harbors by 40.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,521 shares of the business services provider’s stock worth $2,467,000 after purchasing an additional 3,037 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Clean Harbors in the 4th quarter worth about $551,000. Finally, Pillsbury Lake Capital LLC bought a new position in shares of Clean Harbors in the 4th quarter worth about $5,288,000. 90.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CLH shares. Needham & Company LLC boosted their price objective on Clean Harbors from $290.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird set a $300.00 target price on Clean Harbors in a report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Clean Harbors in a research report on Monday, December 29th. Oppenheimer increased their price objective on shares of Clean Harbors from $283.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of Clean Harbors from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.55.

Key Headlines Impacting Clean Harbors

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Q4 beat and strong metrics — CLH reported $1.62 EPS vs. $1.59 expected and $1.50B revenue (above estimates); management highlighted record cash generation. That beat is the primary reason stocks are up and helped push the shares to a new 52‑week high. Article Title
• Positive Sentiment: Strategic acquisition — Clean Harbors agreed to buy Depot Connect International’s Industrial and Rail Services business for about $130M, adding complementary capabilities and revenue streams. Article Title
• Positive Sentiment: Analyst support rising — Several firms raised targets/forecasts after the quarter (Needham lifted its PT to $308 with a Buy; Wells Fargo raised its PT to $291). Upgrades and higher targets reinforce investor confidence. Article Title
• Neutral Sentiment: Investor access & investor materials — Management will present at the Raymond James conference on March 3 and earnings slide deck/transcript are public, which increases transparency but is neutral until new guidance or color emerges. Article Title
• Neutral Sentiment: Operational emphasis — Coverage and commentaries highlight PFAS growth, fleet investments and buybacks as longer‑term value drivers; these are constructive but play out over multiple quarters. Article Title
• Negative Sentiment: Zacks cuts near‑term estimates — Zacks lowered several quarterly and FY2027 EPS forecasts, trimming forward expectations and introducing some caution to the outlook. That tempers enthusiasm from the beat. (no direct link)

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.