Clean Harbors, Inc. reported its financial results for the first quarter of 2026, revealing total revenues of $1.46 billion, a 1.9% increase from $1.43 billion in the same period of 2025. The company's service revenues rose to $1.25 billion, up 3.6%, while product revenues decreased to $212.1 million, down 7.9%. Net income for the quarter was $63.2 million, reflecting a 7.7% increase from $58.7 million in the prior year. Earnings per share also improved, with basic EPS rising to $1.20 from $1.09 and diluted EPS increasing to $1.19 from $1.09.
The company experienced notable changes in its operational metrics compared to the previous fiscal period. The Environmental Services segment saw a revenue increase of $43.4 million, driven by growth in Technical Services and Safety-Kleen core services, despite a decline in Industrial Services. Conversely, the Safety-Kleen Sustainability Solutions segment reported a revenue drop of $15.7 million, primarily due to lower pricing for base and blended oil products. The overall Adjusted EBITDA for the quarter was $247.9 million, a 5.5% increase from $234.9 million in the prior year, indicating improved operational efficiency.
In terms of strategic developments, Clean Harbors completed the acquisition of certain environmental businesses from Depot Connect International for $131.8 million on March 20, 2026. This acquisition is expected to enhance the company's Technical and Field Services capabilities and includes two permitted waste treatment facilities. The company continues to focus on expanding its service offerings and geographic reach, serving over 350,000 customers, including many Fortune 500 companies.
Operationally, Clean Harbors reported a decrease in cash and cash equivalents to $548.0 million from $826.3 million at the end of 2025. The company’s total assets decreased slightly to $7.55 billion, while total liabilities also saw a minor reduction. The company’s employee headcount remained stable, and it continues to monitor its operational metrics closely, including customer demand and service utilization rates. The company’s cash flow from operating activities improved to $6.3 million, up from $1.6 million in the previous year, reflecting better management of working capital.
Looking ahead, Clean Harbors anticipates continued growth driven by demand for its environmental services and strategic investments in technology and infrastructure. The company remains focused on managing costs and enhancing operational efficiencies while navigating market conditions and regulatory changes. The outlook for the remainder of 2026 suggests a commitment to maintaining financial strength and pursuing growth opportunities in the environmental services sector.
About CLEAN HARBORS INC
Clean Harbors, Inc. is a leading North American provider of environmental and industrial services, specializing in hazardous and non-hazardous waste collection, treatment, disposal, and recycling. Its two main segments include Environmental Services—offering waste management, emergency response, and industrial maintenance—and Safety-Kleen Sustainability Solutions, focusing on used oil collection and re-refining into sustainable lubricants. The company serves diverse industries with a broad asset network, emphasizing safety, regulatory compliance, and sustainable solutions.
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