Clean Harbors Inc
F:CH6
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Clean Harbors Inc
Clean Harbors collects, transports, treats, and disposes of hazardous and non-hazardous waste for factories, refineries, utilities, hospitals, and other industrial customers. It also responds to environmental emergencies such as chemical spills and helps customers clean up contaminated sites. Its Safety-Kleen business collects used oil and oily waste and turns much of it into recycled base oil or other usable products. The company makes money by charging fees for waste pickup, treatment, disposal, cleanup work, and related field services. It also sells recycled oil products and other recovered materials from its processing operations. Many customers use Clean Harbors because handling hazardous waste safely is heavily regulated and requires specialized equipment, permits, and trained crews. What makes Clean Harbors different is that it sits in a critical middle layer of the environmental services chain: it does the messy, regulated work that most companies cannot do themselves. That gives it a role that is tied to ongoing industrial activity, routine waste generation, and emergency cleanup needs. In plain terms, it is a business built around safely moving and destroying dangerous material that others must get out of the way.
Clean Harbors collects, transports, treats, and disposes of hazardous and non-hazardous waste for factories, refineries, utilities, hospitals, and other industrial customers. It also responds to environmental emergencies such as chemical spills and helps customers clean up contaminated sites. Its Safety-Kleen business collects used oil and oily waste and turns much of it into recycled base oil or other usable products.
The company makes money by charging fees for waste pickup, treatment, disposal, cleanup work, and related field services. It also sells recycled oil products and other recovered materials from its processing operations. Many customers use Clean Harbors because handling hazardous waste safely is heavily regulated and requires specialized equipment, permits, and trained crews.
What makes Clean Harbors different is that it sits in a critical middle layer of the environmental services chain: it does the messy, regulated work that most companies cannot do themselves. That gives it a role that is tied to ongoing industrial activity, routine waste generation, and emergency cleanup needs. In plain terms, it is a business built around safely moving and destroying dangerous material that others must get out of the way.
Beat and raise: Clean Harbors said Q1 results came in ahead of expectations, with adjusted EBITDA up 6% to $248 million and full-year 2026 adjusted EBITDA guidance raised to $1.24 billion to $1.30 billion from $1.20 billion to $1.26 billion.
ES strength: Environmental Services posted higher profitability, with margin up 50 basis points and its 16th straight quarter of year-over-year adjusted EBITDA margin improvement, helped by project work, PFAS, emergency response and pricing.
SKSS boost: Safety-Kleen Sustainable Solutions saw adjusted EBITDA rise 17% to $33 million as late-quarter base oil pricing improved and the company continued to push charge-for-oil pricing.
PFAS momentum: Management said regulatory guidance from the EPA and the Department of War is supporting a stronger PFAS pipeline, which they described as accelerating versus a year ago.
Capital plan: The company closed the DCI acquisition, kept leverage low, bought back $25 million of stock in Q1, and raised 2026 net capital spending guidance by $10 million due to attractive growth projects.