Clean Harbors Posts Record Q2, Wins $600M Contract, Acquires ES&H for $305M, and Raises Guidance

summarizeSummary

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.

check_boxKey Events · Earnings and Guidance · CLH

• 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%.

• $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.

• $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.

• 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.

auto_awesomeAnalysis · 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.