Clean Harbors Boosts 2026 EBITDA to $1.24–1.30B, Q1 Landfill Volumes Up 34%

Clean Harbors achieved a record 0.39 safety incident rate in Q1 2026, attributed to field-level engagement and technology investments. The Environmental Services segment grew revenue by 10%, driven by a 34% increase in landfill volumes and a single $10 million emergency response project, while SKSS’s charge-for-oil model more than doubled rates year-over-year and AI tools enhanced waste classification and invoice auditing.

The company raised its full-year adjusted EBITDA guidance to $1.24–1.30 billion, expecting incinerator utilization to reach mid-to-upper 80% as major maintenance cycles conclude. Plans include opening 10 new field service branches in 2026, targeting cross-selling across 60 lines of business, with SKSS projected to contribute $165 million in EBITDA and PFAS-related revenues set to accelerate 25–35%.

Net capital expenditures are now guided to $350–410 million to fund branch expansions and regional growth opportunities. The Kimball incinerator expansion is on track to add $10–15 million in EBITDA above the $10 million achieved in 2025. The company also rolled out a proprietary PFAS management framework to help customers navigate regulatory uncertainty and is leveraging AI for operational efficiency.

Industrial Services remains pressured as refiners delay turnarounds to prioritize fuel production, creating regional softness. SKSS base oil pricing faces volatility due to ongoing overseas conflicts, and management emphasizes disciplined tuck-in M&A within the ES segment to mitigate risks and support long-term growth.