Clean Harbors Posts Record Q2, Wins $600M Contract, Acquires ES&H for $305M, and Raises Guidance
CLH sits 59% above its 52-week low of $201.34.
Summary
Clean Harbors reported record Q2 2026 results, announced a $600M disposal contract and a $305M acquisition, and raised full-year guidance — a trifecta of positive catalysts.
Updates
· SEC 10-Q — The 10-Q confirms Q2 revenue of $1.735B, net income of $170.5M, and EPS of $3.22. It also discloses the ES&H acquisition agreement signed July 17, 2026 for $305M and the Western Oil acquisition for $30M.
Key Events · Earnings and Guidance · CLH
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Record Q2 Revenue and Earnings
Revenue rose 12% to $1.74B, net income jumped 34% to $170.5M ($3.22 EPS), and Adjusted EBITDA grew 22% to $409.0M with margin expanding 190 bps to 23.6%.
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$600M Ten-Year Disposal Contract
Won a ten-year disposal contract with an estimated value of $600M from a customer expanding U.S. manufacturing; contract starts Q4 2026 and ramps to full capacity by 2030.
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$305M Acquisition of ES&H
Agreed to acquire ES&H, a Gulf Coast environmental and emergency response firm, for $305M in cash; ES&H generates ~$90M in annual revenue and ~$30M in Adjusted EBITDA, with expected cost synergies of ~$5M.
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Raised Full-Year Guidance
Increased 2026 Adjusted EBITDA guidance midpoint by $110M to $1.38B and adjusted free cash flow midpoint by $30M to $550M, reflecting strong first-half performance and favorable market conditions.
Analysis · CLH · Energy & Transportation
A standout quarter saw revenue climb 12% to a record $1.74 billion, while net income surged 34% to $170.5 million. Adding to the momentum, the company secured a transformative ten-year, $600 million disposal contract tied to U.S. manufacturing reshoring and announced a $305 million acquisition of ES&H to expand its Gulf Coast field services. Management raised full-year Adjusted EBITDA guidance by $110 million at the midpoint, signaling confidence that strong demand trends will persist. With the stock trading near all-time highs, these results validate the premium valuation.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 41.9% of the 327 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.46%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CLH was trading at $320.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $16B. The 52-week trading range was $201.34 to $316.98. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.