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Clean Harbors
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Latest analysis
Updated Oct 28, 2026
Clean Harbors Q3 2026: Record Revenue and EBITDA on $120M Emergency Response Event, SKSS Tripling EBITDA YoY
Clean Harbors delivered record quarterly revenue of $1.87 billion and adjusted EBITDA of $456 million in Q3 2026, with consolidated adjusted EBITDA margin reaching 24.4% — a 370 basis point improvement and the highest quarterly margin in company history. The Environmental Services segment posted its 18th consecutive quarter of year-over-year adjusted EBITDA margin expansion at 27.4%, driven by a $120 million warehouse fire emergency response event, 30% PFAS revenue growth, and robust collection volumes. SKSS EBITDA more than tripled year-over-year to $126 million on tight global base oil and lubricant supply, prompting a full-year adjusted EBITDA guidance raise to $1.44–$1.48 billion, $80 million above the July midpoint.
Tone: bullishRevenue
$6B
CLH 10-K · FY 2025
Employees
22,155
Revenue FY2024
$5.9B
Founded
1980
Profile
CLH 10-K Item 1 · Feb 18, 2026Clean Harbors is North America's leading provider of environmental and industrial services, operating through two segments: Environmental Services and Safety-Kleen Sustainability Solutions. The company collects, transports, treats, recycles, and disposes of hazardous and non-hazardous waste through a network of over 100 disposal facilities, and is the largest re-refiner and recycler of used oil on the continent. It serves over 350,000 customers, including the majority of Fortune 500 companies, across chemical, manufacturing, government, and automotive end markets.
Read filing description ↓ Collapse description ↑
Clean Harbors, Inc., together with its subsidiaries, is a leading provider of environmental and industrial services throughout North America. Everywhere industry meets the environment, we strive to provide sustainable services and products that minimize environmental impact, maximize environmental benefit through reuse and recycling and support our customers' business needs. We are also the largest provider of parts cleaning and related environmental services to general manufacturing, automotive and commercial customers in North America and the largest re-refiner and recycler of used oil in North America. One of our primary goals is supporting our customers in providing innovative and environmentally responsible solutions to further their sustainability goals and solve complex environmental challenges. We have two operating segments through which we conduct our operations: (i) the Environmental Services segment and (ii) the Safety-Kleen Sustainability Solutions segment. Our Environmental Services businesses offer an array of services to customers. We safely collect, transport, treat, recycle when suitable and dispose of hazardous and non-hazardous waste through our network of over 100 waste disposal facilities including incinerators; landfills; treatment, storage and disposal facilities, or TSDFs, wastewater treatment facilities; and solvent recycling centers. Our emergency response services leverage specialized equipment, expertise and responsiveness to support our customers. Our Safety-Kleen Sustainability Solutions business offerings span the life-cycle of sustainable lubricant products, providing collection services for used oil, used oil filters and other automotive related fluids, and manufacturing base oil, vacuum gas oil, and high-quality lubricants at our oil re-refineries. We serve over 350,000 customers, including the majority of Fortune 500 companies, across various markets including chemical and manufacturing, as well as numerous government agencies.
Primary products
- Hazardous waste collection, transport, treatment and disposal
- Non-hazardous waste management
- Incineration services
- Landfill disposal
- Wastewater treatment
- Solvent recycling
Business segments
End markets
Geographies
Named competitors
“We believe that we offer a more comprehensive range of services and products than our competitors in major portions of the United States and Canada.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total direct revenues for 2025 increased 2.4% or $140.9 million to $6,030.8 million, compared with $5,890.0 million in 2024, driven by growth in Environmental Services segment revenues which more than offset a decline in SKSS segment revenues due to lower market-based pricing for base oil and blended oil products.
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