Clean Harbors slides 9% as Q1 revenue misses despite raised 2026 EBITDA outlook
Clean Harbors shares fell after reporting Q1 2026 results that beat EPS but came in slightly light on revenue, triggering a sell-the-news reaction. The company still raised its 2026 Adjusted EBITDA midpoint by $40 million to $1.27 billion, but noted weather-related impacts and softness in parts of Industrial Services.
1. What’s driving CLH down today
Clean Harbors (CLH) is trading sharply lower on May 6, 2026 after posting first-quarter results that were better than expected on earnings per share but slightly below revenue expectations, prompting a sell-the-news move following a strong run into the print. The quarter also included commentary around weather-related disruption to collection and services activity and regional softness in Industrial Services, which likely weighed on sentiment even as margins held up and management emphasized momentum exiting March. (stocktitan.net)
2. The key numbers investors are reacting to
For Q1 2026, Clean Harbors reported revenue of $1.46 billion and net income of $63.2 million ($1.19 per diluted share). While EPS came in above the consensus estimate tracked by Zacks, revenue was modestly below expectations there, which can matter for a stock priced for steady top-line execution. (stocktitan.net)
3. Outlook: guidance goes up, but the market still de-risks
Despite the stock drop, Clean Harbors raised the midpoint of its full-year 2026 Adjusted EBITDA guidance by $40 million, taking the range to $1.24 billion–$1.30 billion (midpoint $1.27 billion). Management also pointed to continuing margin improvement in Environmental Services, but flagged that challenging weather affected collection and services businesses—an element that can lead investors to question near-term volume cadence and visibility even with higher full-year targets. (marketscreener.com)
4. What to watch next
Investor attention now shifts to details from the Q1 conference call about (1) Industrial Services demand and pricing trends by region, (2) how quickly weather-impacted activity normalizes, and (3) whether raised full-year targets imply a more back-half-weighted year. With CLH down about 9% on the day, follow-through will likely depend on whether management’s implied Q2 trajectory and disposal/recycling volume commentary reinforce the higher 2026 profitability framework. (stocktitan.net)