Clean Harbors Q3 revenue rises 21%, beats estimates
CLH•Clean Harbors reported third-quarter revenue of $1.87 billion, up 21% year over year and above the $1.73 billion estimate. Adjusted EBITDA rose 42% to $456.1 million, and the company raised its 2026 guidance for adjusted EBITDA and adjusted free cash flow.
1. Quarterly results
Clean Harbors reported third-quarter revenue of $1.87 billion, up 21% year over year and above the $1.73 billion analyst estimate. Adjusted EBITDA rose 42% to $456.1 million, beating the $408.51 million estimate. Net income was $208.1 million, and EPS was $3.93.
2. Raised 2026 outlook
The company raised its 2026 adjusted EBITDA guidance to $1.44 billion-$1.48 billion and expects adjusted free cash flow of $600 million-$660 million. It expects fourth-quarter adjusted EBITDA to grow 23% to 26% year over year.
3. Business drivers
The Environmental Services segment was driven by a large emergency response event, PFAS-related projects, strong waste volumes and pricing actions. The Safety-Kleen Sustainability Solutions segment benefited from elevated market prices for re-refined products due to global supply disruptions. Field Services revenue grew more than 70%, mainly due to a major emergency response event.
