On October 28, 2026, Clean Harbors, Inc. reported financial results for the third quarter ended September 30, 2026. The company announced record revenues of $1.87 billion for the quarter, representing a 21% increase compared to the $1.55 billion reported in the same period of 2025.
Net income for the third quarter was $208.1 million, or $3.93 per diluted share, a 75% increase from $118.8 million, or $2.21 per diluted share, in the prior year. The company also reported Adjusted EBITDA of $456.1 million, a 42% increase from the $320.2 million recorded in the third quarter of 2025. This resulted in an Adjusted EBITDA margin of 24.4%, an expansion of 370 basis points year-over-year.
On a segment basis, Environmental Services (ES) generated an Adjusted EBITDA margin of 27.4%, marking its 18th consecutive quarter of year-over-year margin expansion. Within ES, Field Services revenue grew by more than 70%, driven by emergency response activity, including one substantial event that generated approximately $120 million in revenue. Safety-Kleen Sustainability Solutions (SKSS) also saw significant growth, with segment revenue increasing 46% and Adjusted EBITDA rising 209%.
Regarding guidance, Clean Harbors raised its full-year 2026 Adjusted EBITDA guidance to a range of $1.44 billion to $1.48 billion, with a midpoint of $1.46 billion. The company also raised its Adjusted Free Cash Flow guidance to a range of $600 million to $660 million, with a midpoint of $630 million. For the fourth quarter of 2026, the company expects Adjusted EBITDA to grow 23% to 26% year over year.
In a separate announcement, the company disclosed an executive leadership transition. Eric Gerstenberg is set to become the sole Chief Executive Officer on January 1, 2027, while Mike Battles will retire as Co-CEO and Board Member at the end of the year.
