Clean Harbors reports record Q2 revenue, raises guidance, and inks ES&H acquisition
Jul 29, 2026, 7:34 AM EDT2 sourcesAI-analyzed
Why it may matterVerify against the original reporting
Strong quarterly figures validate execution across segments; higher guidance provides near-term upside, and the ES&H deal is an accretive, scale-enhancing move that could lift multiple valuation metrics if execution meets synergies.
AI summary
What happened, with direct paths to the underlying reporting
Clean Harbors delivered a record second quarter with $1.74B in revenue (up 12%), $170.5M net income, and $3.22 EPS. Adjusted EBITDA rose 22% to $409M, with a 23.6% margin. The company also secured a $600M, ten-year disposal contract and agreed to acquire ES&H for $305M, expanding Field Services; combined with stronger PFAS and reshoring trends, management raised full-year EBITDA and free-cash-flow guidance for 2026, signaling robust momentum into H2.
Revenue rose 12% to $1.74B in Q2; ES and SKSS drove growth.
Net income $170.5M; EPS $3.22; Adj EBITDA $409.0M, margin 23.6%.
Awarded a ten-year disposal contract valued at ~$600M over life.
Agrees to acquire ES&H for $305M to bolster Field Services; close H2 2026.
Raised 2026 guidance: Adj EBITDA midpoint to $1.38B; Adj FCF midpoint to $550M.
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