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Clean Harbors Q3 revenue rises 21%, beats estimates

By Reuters News


Overview

  • North America environmental services provider's Q3 revenue grew 21% yr/yr, beating analyst expectations

  • Q3 adjusted EBITDA rose 42% yr/yr, beating analyst estimates

  • Company raised 2026 guidance for adjusted EBITDA and adjusted free cash flow


Outlook

  • Company expects Q4 adjusted EBITDA to grow 23% to 26% year over year

  • Clean Harbors raises 2026 adjusted EBITDA guidance to $1.44 bln-$1.48 bln

  • Company sees 2026 adjusted free cash flow at $600 mln-$660 mln


Result Drivers

  • EMERGENCY RESPONSE & PFAS WORK - ES segment driven by large emergency response event, PFAS-related projects, strong waste volumes and pricing actions

  • HIGH RE-REFINED PRODUCT PRICES - SKSS segment benefited from elevated market pricing for re-refined products due to global supply disruptions

  • FIELD SERVICES GROWTH - Field Services business saw over 70% revenue growth, mainly from a major emergency response event


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.87 bln

$1.73 bln (15 Analysts)

Q3 EPS

$3.93

Q3 Net Income

$208.10 mln

Q3 Adjusted EBITDA

Beat

$456.10 mln

$408.51 mln (15 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the environmental services & equipment peer group is "buy"

  • Wall Street's median 12-month price target for Clean Harbors Inc is $364.50, about 16.5% above its October 27 closing price of $312.92

  • The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 33 three months ago


Reuters Recommended Reads

  • Oct 27 - Waste Management Q3 revenue slightly beats on higher volumes

  • Oct 28 - Finland's Luotea Q3 adjusted EBITA rises on cost savings

  • Oct 28 - Finland's Lassila & Tikanoja Q3 revenue beats on price increases


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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