Overview

* Clean Harbors ( CLH ) Q2 revenue flat at $1.55 bln, missing analyst expectations

* Adjusted EBITDA of $336.2 mln beats estimates, margin improves 60 bps

* Environmental Services segment shows growth in revenue and EBITDA

Outlook

* Clean Harbors ( CLH ) expects Q3 Adjusted EBITDA to grow 9-12% year-over-year

* Company reiterates full-year 2025 Adjusted EBITDA guidance of $1.16 bln to $1.20 bln

* Clean Harbors ( CLH ) projects 2025 adjusted free cash flow of $430 mln to $490 mln

* Company sees healthy demand and substantial project pipeline in ES segment

Result Drivers

* ENVIRONMENTAL SERVICES - Segment achieved 3% revenue growth due to strong demand for disposal assets and pricing strategies

* INCINERATION PERFORMANCE - Facilities maximized throughput with 89% utilization, excluding new Kimball incinerator

* SAFETY-KLEEN STABILITY - Waste oil collection strategies and higher charge-for-oil pricing supported segment stabilization

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $1.55 $1.59

Revenue bln bln (9

Analysts

)

Q2 EPS $2.36

Q2 Net $126.90

Income mln

Q2 Beat $336.20 $334 mln

Adjusted mln (9

EBITDA Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "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 ( CLH ) is $255.00, about 6.6% above its July 29 closing price of $238.29

* The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release:

(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.)