CLH
Clean Harbors, Inc.240.02
-0.69-0.29%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Captives active, guide cautious
Q&A added color on active captive incinerator closure discussions and mid-to-upper single-digit incineration pricing into 2026, absent from prepared remarks, while stressing ES pricing power amid PFAS pipeline growth. Management tempered enthusiasm for Industrial Services specialty momentum, guiding modest growth with no snapback assumed—guide assumes slight base oil decline and Q1 SKSS dip. Vac truck expansion targets over 10% organic growth across units. No Veolia impact expected. Long-term 30% margins by 2030 in view. Cautious yet credible tone; investors eye industrial proof points. Punchy: No snapback in guide.
Key Stats
Market Cap
12.87BP/E (TTM)
33.34Basic EPS (TTM)
7.20Dividend Yield
0%Recent Filings
8-K
Q4 beat, DCI buy, 2026 guide
Clean Harbors posted Q4 revenues up 5% to $1.5B and full-year record $6.03B, with Adjusted EBITDA rising 8% to $279M and $1.17B respectively. Signed $130M deal for DCI environmental units, eyeing H1 2026 close to add $40M revenue, $11M EBITDA. Board boosted buyback by $350M after $250M repurchases. Guides 2026 Adjusted EBITDA $1.20B-$1.26B. Cash fuels growth.
10-K
FY2025 results
Clean Harbors posted FY2025 direct revenues of $6.0B, up 2.4% y/y, with Environmental Services driving 3.8% growth to $5.2B via stronger technical services volumes and incinerator utilization hitting 89% (excluding new Kimball unit). SKSS dipped 5.4% to $837M on softer oil pricing, yet collections pricing rose. Adjusted EBITDA climbed 4.7% to $1.17B, margins edging to 19.4%, while Q4 momentum showed incinerator utilization steady at 85% overall. Free cash flow surged to $509M (derived), funding $250M buybacks; debt refinanced at ~5.3% effective rate with $2.8B total. No annual guidance disclosed. Cybersecurity incidents could disrupt quarterly operations.
10-Q
Q3 FY2025 results
Clean Harbors nudged revenues up 1.3% y/y to $1.5B in Q3 ended September 30, 2025, with Environmental Services growing 2.6% y/y on stronger technical services and incinerator utilization at 88%, while SKSS dipped 6.1% y/y from softer oil pricing. Operating income held steady at $193M despite 14.7% higher D&A from Kimball incinerator and HEPACO integration; diluted EPS rose 4.2% y/y to $2.21 on 53,713 diluted shares. Operating cash flow hit $512M YTD, yielding $208M free cash flow (derived); cash swelled to $759M with $473M revolver availability, total debt ~$2.8B. HEPACO closed March 2024 for $392M cash, adding $187M goodwill and $131M intangibles (19-year life). Superfund proceedings linger at 132 sites.
8-K
Q3 beats, SDA investment
Clean Harbors posted Q3 revenue of $1.55B, up from $1.53B, with net income at $118.8M and Adjusted EBITDA jumping 6% to $320.2M at 20.7% margin. Technical Services grew 12%, Safety-Kleen 8%, yet Industrial Services softened on turnaround delays. Plans $210M-$220M SDA plant for 600N base oil by 2028, eyeing $30M-$40M annual EBITDA. Raised 2025 Adjusted EBITDA to $1.155B-$1.175B.
8-K
Clean Harbors refinances term loans with $745M new notes at 5.75% due 2033 and $1.26B new term loans at SOFR+1.50%, extending maturities to 2032.
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