Clean Harbors Reports 12% Revenue Growth to $1.735 Billion in Latest Quarter

Clean Harbors, Inc. reported significant financial growth in its latest quarterly filing, with total revenues reaching $1.735 billion for the three months ended June 30, 2026, a 12% increase from $1.550 billion in the same period last year. For the first half of 2026, revenues totaled $3.195 billion, up 7.1% from $2.982 billion in the prior year. The company's net income also saw a substantial rise, increasing by 34.3% to $170.5 million for the second quarter and by 25.9% to $233.7 million for the first half of the year, compared to $126.9 million and $185.6 million, respectively, in 2025.

The growth in revenue was driven by both the Environmental Services and Safety-Kleen Sustainability Solutions (SKSS) segments. The Environmental Services segment reported a 7.7% increase in direct revenues for the second quarter, totaling $1.457 billion, while the SKSS segment experienced a remarkable 40.8% increase, reaching $278.4 million. The increase in SKSS revenues was primarily attributed to higher pricing for base and blended oil products, as well as increased revenues from used oil collection services. The company also noted a rise in Technical Services revenues, which contributed significantly to the overall growth.

In terms of operational developments, Clean Harbors expanded its capabilities through several acquisitions, including the purchase of Terra Nova Solutions for $225.8 million and Depot Connect International for $131.8 million, both aimed at enhancing its Environmental Services segment. The company also signed a purchase agreement to acquire ES&H for approximately $305 million, which is expected to close in the second half of 2026. These acquisitions are anticipated to bolster the company's field services operations and expand its technical capabilities.

The company reported a total of 350,000 customers, including many Fortune 500 companies, and noted an increase in utilization rates at its incinerators, which reached 91% in the second quarter of 2026, compared to 86% in the same period last year. Clean Harbors also reported a decrease in its cash and cash equivalents, which fell to $408.4 million from $826.3 million at the end of 2025, primarily due to increased investments in acquisitions and capital expenditures. The company anticipates continued growth and profitability, supported by its strategic initiatives and operational efficiencies, as it aims to leverage its market position in the environmental services sector.