Clean Harbors (CLH) Q4 2025 Earnings Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
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Should l Buy CLH?
Source: NASDAQ.COM
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Analyst Views on CLH
Wall Street analysts forecast CLH stock price to fall
8 Analyst Rating
5 Buy
3 Hold
0 Sell
Moderate Buy
Current: 269.080
Low
230.00
Averages
263.14
High
290.00
Current: 269.080
Low
230.00
Averages
263.14
High
290.00
About CLH
Clean Harbors, Inc. is a provider of environmental and industrial services. The Company delivers a range of services, such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Its Environmental Services segment offers an array of services to customers. It collects, transports, treats and disposes of hazardous and non-hazardous waste through its network of waste disposal facilities, including incinerators, landfills, treatment, storage and disposal facilities (TSDFs), wastewater treatment facilities and solvent recycling centers. Its Safety-Kleen Sustainability Solutions (SKSS) segment offerings span the lifecycle of sustainable lubricant products. It collects used oil which serves as feedstock for its oil re-refineries. At these facilities, it manufactures, formulates and packages lubricants which are returned to the marketplace. It also provides parts washers and environmental services to various customers.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Earnings Announcement Schedule: Clean Harbors (CLH) is set to announce its Q4 earnings on February 18 before market open, with consensus EPS estimated at $1.60 and revenue at $1.46 billion, reflecting a 2.1% year-over-year growth, which will provide critical insights into the company's financial performance.
- Historical Performance Review: Over the past year, CLH has beaten EPS estimates 50% of the time and revenue estimates 25% of the time, indicating a level of stability in financial forecasting that may bolster investor confidence.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen one upward revision and two downward adjustments, while revenue estimates have experienced four upward revisions with no downward changes, suggesting a positive market outlook on CLH's future revenue growth and competitive positioning in the industry.
- Contract Signing Situation: Clean Harbors recently secured contracts worth $110 million, which not only provides a stable revenue stream but may also positively impact the upcoming earnings report, further solidifying its market position.
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- Strong Earnings Report: Clean Harbors reported a Q4 GAAP EPS of $1.62, beating expectations by $0.01, with revenue of $1.5 billion reflecting a 4.9% year-over-year increase, surpassing market estimates by $40 million, indicating robust performance in the environmental services sector.
- Optimistic Future Outlook: The company anticipates a 4% to 7% year-over-year growth in adjusted EBITDA for Q1 2026, with consolidated EBITDA expected to rise by 1% to 3%, reflecting confidence in future business expansion.
- Annual Performance Expectations: Clean Harbors projects adjusted EBITDA for 2026 to range between $1.20 billion and $1.26 billion, with GAAP net income anticipated between $410 million and $461 million, providing clear profit guidance for investors.
- Robust Cash Flow: The expected adjusted free cash flow for 2026 is projected to be between $480 million and $540 million, based on anticipated net cash from operating activities ranging from $820 million to $940 million, demonstrating effective cash flow management capabilities.
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- Significant Revenue Growth: Clean Harbors achieved a record revenue of $6.03 billion in 2025, reflecting a 2% increase year-over-year, with Q4 revenues reaching $1.5 billion, up 5% from the same period in 2024, showcasing strong performance in the environmental services sector.
- Steady Net Income Increase: The company reported a net income of $391 million for 2025, translating to an EPS of $7.28, which, despite a slight decline from 2024, underscores ongoing improvements in operational efficiency and cost management that lay the groundwork for future growth.
- Record Free Cash Flow: Clean Harbors generated an adjusted free cash flow of $509 million in 2025, a 42% increase from 2024, driven by higher adjusted EBITDA and improved working capital management, enhancing the company's financial flexibility.
- Acquisition and Expansion Plans: The company signed an agreement to acquire environmental businesses from Depot Connect International for approximately $130 million, expected to add $40 million in revenue and $11 million in adjusted EBITDA, further solidifying its market position and driving future growth.
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- Conference Call Schedule: Clean Harbors will host its Q4 and full-year 2025 financial results conference call on February 18, 2026, at 9:00 a.m. ET, highlighting the company's commitment to transparency and investor communication by discussing financial results and business outlook.
- Executive Participation: The call will feature Co-CEOs Michael L. Battles and Eric W. Gerstenberg, CFO Eric J. Dugas, and SVP of Investor Relations Jim Buckley, ensuring that investors receive comprehensive insights into the company's strategy and financial performance.
- Participation Details: Investors can listen to the live webcast on the company's Investor Relations webpage or dial in at 877.709.8155 or 201.689.8881, with a recommendation to join at least 10 minutes early to ensure smooth access.
- Company Overview: Founded in 1980, Clean Harbors is North America's leading provider of environmental and industrial services, serving a diverse customer base that includes a majority of Fortune 500 companies, showcasing its strong market position across various sectors including chemicals, manufacturing, and government agencies.
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