Why Is Clean Harbors (CLH) Up 2.9% Since Last Earnings Report?

A month has gone by since the last earnings report for Clean Harbors (CLH). Shares have added about 2.9% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Clean Harbors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Clean Harbors' Q4 Earnings Beat Estimates

Clean Harbors, Inc. reported better-than-expected fourth-quarter 2025 results, with both earnings and revenues beating the Zacks Consensus Estimate.

The company reported fourth-quarter 2025 earnings of $1.62 per share, which beat the Zacks Consensus Estimate by 3 cents and increased 4.5% year over year. Revenues of $1.49 billion beat the consensus mark by 1.4% and rose 4.8% from the year-ago quarter.

CLH’s Segmental Revenues

Environmental Services (“ES”) revenues of $1.29 billion increased 6.3% from the year-ago quarter, lagging our estimate of $1.32 billion. The growth was driven by strong demand in the disposal network and collection businesses.

Revenues from Safety-Kleen Sustainability Solutions (“SKSS”) totaled $209 million, marking a 3.6% year-over-year decline but beating our estimate of $208.3 million. Pricing headwinds in the base oil market drove this segment’s revenues.

Clean Harbors’ Profitability Performance

Adjusted EBITDA of $278.69 million grew 8.4% from the year-ago quarter and surpassed our estimate of $271.7 million. The adjusted EBITDA margin was 18.6%, up 60 basis points from the year-ago quarter.

On a segment basis, adjusted EBITDA for ES amounted to $335.77 million, increasing 8.1% year over year. This missed our estimate of $339 million. Adjusted EBITDA for SKSS of $29.95 million rose 21.7% from the year-ago quarter and surpassed our estimate of $23.6 million.

Key Balance Sheet & Cash Flow Figures

Clean Harbors exited the quarter with cash and cash equivalents of $826.32 million compared with $759.2 million at the end of the preceding quarter. Inventories and supplies were $372.1 million compared with $377.31 million in the third quarter of 2025. Long-term debt (less current portion) was $2.76 billion, flat with the previous quarter.

CLH generated $355.1 million in net cash from operating activities during the quarter. The capital expenditure was $121.75 million. The adjusted free cash flow utilized was $261.26 million.

Clean Harbor’s Q1 and 2026 Guidance

Clean Harbour expects adjusted EBITDA growth to be between 4% and 7% year over year in its ES segment and 1% to 3% on a consolidated basis.

For 2026, CLH expects GAAP net income to be in the range of $410-$461 million. Adjusted EBITDA is expected to be between $1.20 billion and $1.26 billion. The company expects net cash from operating activities to be between $820 million and $940 million. Adjusted free cash flow is estimated to be $480-$540 million with a midpoint of $510 million.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a flat trend in estimates revision.

VGM Scores

Currently, Clean Harbors has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Clean Harbors has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Clean Harbors belongs to the Zacks Waste Removal Services industry. Another stock from the same industry, Republic Services (RSG), has gained 0.6% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.

Republic Services reported revenues of $4.14 billion in the last reported quarter, representing a year-over-year change of +2.2%. EPS of $1.76 for the same period compares with $1.58 a year ago.

For the current quarter, Republic Services is expected to post earnings of $1.66 per share, indicating a change of +5.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.1% over the last 30 days.

Republic Services has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.

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This article originally published on Zacks Investment Research (zacks.com).

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