Analyst Consensus ?
ConsensusBuy26 ratings
Bullish1973.1%
Neutral726.9%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Clean Harbors, Inc. · CLH · FY2025 Q2 · Calendar Q3 2025
Clean Harbors holds 2025 EBITDA guidance as margins improve
The supplied Q2 analysis presents improving operating margins, a maintained EBITDA outlook and investment capacity as support for the operating case. That case remains exposed to industrial activity, regulatory timing and cost pressures; the results do not by themselves establish sustained earnings growth.
Reported Before market openNYSEIndustrials
$15.61B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.36
Consensus $2.33
EPS surprise
+1.3%
Reported versus consensus
Reported revenue
$1.55B
Consensus $1.59B
Revenue surprise
-2.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.1%
Event window
SPY move
-0.1%
Same window
Abnormal move
-3.0%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
+6.4%
Up to 20 sessions
CLHSPY benchmark
Ask FN2 about CLH FY2025 Q2
Transcript, numbers and history already loaded
Why did CLH fall 3.1% after beating EPS estimates in FY2025 Q2?What changed in CLH's guidance and outlook in FY2025 Q2?Give me the bull and bear case for CLH after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management maintained full-year 2025 adjusted EBITDA guidance, consistent with the prior-quarter stance. The Q2 analysis highlights 60 basis points of adjusted EBITDA margin expansion to 21.7%, while the scorecard shows EPS modestly above consensus and revenue below consensus.
Guidance delta
No change indicated: management reaffirmed 2025 adjusted EBITDA guidance, as it had in Q1. The supplied analysis does not specify a new numerical guidance range.
Key takeaways
- Adjusted EBITDA margin expanded 60 basis points to 21.7%, and 2025 EBITDA guidance was reaffirmed.
- Q2 EPS was slightly above the supplied consensus estimate, while revenue was below the estimate.
- Management highlighted a strong cash balance and net debt-to-EBITDA of about 2x as financial flexibility.
- SKSS profitability improved after its shift to a charge-for-oil model; management also emphasized hub expansion and PFAS remediation opportunities.
Management priorities
- Increase throughput at the Kimball incinerator and develop additional hubs, including Phoenix and Chicago.
- Expand PFAS remediation, recycling and disposal capabilities, including selected e-waste services.
- Grow Group III fuel production and direct blended-oil sales while pursuing selective acquisitions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
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Analyst 52W Price Targets
$298.55Current
$118Low
$311Average
$390High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Buy | Buy | Maintain | Nov 2, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 30, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 29, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Oct 29, 2026 |
| Baird | Outperform | Outperform | Maintain | Oct 22, 2026 |
| UBS | Buy | Neutral | Upgrade | Oct 21, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 31, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 30, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 30, 2026 |
| Needham | Buy | Buy | Maintain | Jul 30, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 8, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Apr 8, 2026 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Oct 30, 2025 |
| CJS Securities | Market Outperform | Market Perform | Upgrade | Sep 21, 2021 |
| Berenberg | Buy | Hold | Upgrade | Jan 21, 2021 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 25, 2018 |
| Canaccord Genuity | Buy | Hold | Upgrade | May 3, 2018 |
| KeyBanc | Overweight | Downgrade | Aug 3, 2017 | |
| Macquarie | Neutral | Neutral | Maintain | Aug 26, 2016 |
| Imperial Capital | Outperform | Outperform | Maintain | Mar 1, 2016 |
| Wedbush | Outperform | Neutral | Upgrade | Nov 17, 2014 |
| BB&T Capital | Hold | Buy | Downgrade | Sep 5, 2014 |
| Boenning & Scattergood | Neutral | Outperform | Downgrade | May 8, 2014 |
| Wunderlich Securities | Buy | Buy | Maintain | May 6, 2014 |
| Wunderlich | Buy | Buy | Maintain | May 6, 2014 |
| RBC Capital | Outperform | Top Pick | Downgrade | Mar 12, 2014 |
| Credit Suisse | Neutral | Outperform | Downgrade | Nov 12, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $298.55. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Tobey Sommer | $365 | $308.02 | +22.3% | Oct 29, 2026 |
| Robert W. Baird | Analyst unavailable | $375 | $313.27 | +25.6% | Oct 29, 2026 |
| Oppenheimer | Noah Kaye | $362 | $313.27 | +21.3% | Oct 29, 2026 |
| Robert W. Baird | Analyst unavailable | $365 | $319.26 | +22.3% | Oct 22, 2026 |
| UBS | Analyst unavailable | $375 | $316.28 | +25.6% | Oct 21, 2026 |
| BMO Capital | Analyst unavailable | $364 | $319.48 | +21.9% | Oct 15, 2026 |
| Barclays | Analyst unavailable | $335 | $315.54 | +12.2% | Oct 8, 2026 |
| Oppenheimer | Noah Kaye | $350 | $326.34 | +17.2% | Jul 30, 2026 |
| Needham | James Ricchiuti | $390 | $326.34 | +30.6% | Jul 30, 2026 |
| Wells Fargo | Analyst unavailable | $377 | $326.34 | +26.3% | Jul 30, 2026 |
| Raymond James | Patrick Tyler Brown | $375 | $326.34 | +25.6% | Jul 30, 2026 |
| Barclays | Analyst unavailable | $325 | $326.34 | +8.9% | Jul 30, 2026 |
| Industrial Alliance Securities | Analyst unavailable | $356 | $326.34 | +19.2% | Jul 29, 2026 |
| Truist Financial | Analyst unavailable | $350 | $306.68 | +17.2% | Jul 22, 2026 |
| BMO Capital | Jeffrey Silber | $342 | $297.93 | +14.6% | Jul 8, 2026 |
| UBS | Analyst unavailable | $315 | $307.48 | +5.5% | May 14, 2026 |
| Barclays | William Grippin | $304 | $291.15 | +1.8% | May 11, 2026 |
| Truist Financial | Tobey Sommer | $325 | $304.09 | +8.9% | Apr 20, 2026 |
| Robert W. Baird | David Manthey | $350 | $296 | +17.2% | Apr 16, 2026 |
| Raymond James | Analyst unavailable | $320 | $278.61 | +7.2% | Feb 23, 2026 |
| Barclays | Analyst unavailable | $280 | $284.69 | -6.2% | Feb 23, 2026 |
| Needham | James Ricchiuti | $308 | $284.05 | +3.2% | Feb 19, 2026 |
| Robert W. Baird | Analyst unavailable | $300 | $285.6 | +0.5% | Feb 19, 2026 |
| Truist Financial | Analyst unavailable | $310 | $280.42 | +3.8% | Feb 19, 2026 |
| Oppenheimer | Analyst unavailable | $300 | $276.25 | +0.5% | Feb 19, 2026 |
| BMO Capital | Devin Dodge | $310 | $276.25 | +3.8% | Feb 18, 2026 |
| Oppenheimer | Noah Kaye | $283 | $261.46 | -5.2% | Jan 23, 2026 |
| Wells Fargo | Jerry Revich | $248 | $261.46 | -16.9% | Jan 23, 2026 |
| Goldman Sachs | Adam Bubes | $253 | $264.08 | -15.3% | Jan 20, 2026 |
| Needham | Analyst unavailable | $290 | $264.08 | -2.9% | Jan 20, 2026 |
| Goldman Sachs | Adam Bubes | $228 | $217.04 | -23.6% | Nov 24, 2025 |
| Wells Fargo | Analyst unavailable | $220 | $204.29 | -26.3% | Nov 13, 2025 |
| UBS | Jon Windham | $240 | $213.79 | -19.6% | Oct 31, 2025 |
| Barclays | William Grippin | $230 | $217.92 | -23.0% | Oct 30, 2025 |
| Oppenheimer | Noah Kaye | $237 | $217.92 | -20.6% | Oct 30, 2025 |
| Raymond James | Patrick Tyler Brown | $270 | $217.92 | -9.6% | Oct 30, 2025 |
| UBS | Jon Windham | $245 | $231.85 | -17.9% | Oct 16, 2025 |
| Raymond James | Patrick Tyler Brown | $280 | $228.34 | -6.2% | Oct 6, 2025 |
| Barclays | Analyst unavailable | $253 | $237.14 | -15.3% | Sep 18, 2025 |
| BMO Capital | Analyst unavailable | $268 | $230.93 | -10.2% | Jul 30, 2025 |
| Truist Financial | Tobey Sommer | $250 | $208.38 | -16.3% | Apr 22, 2025 |
| BMO Capital | Jeffrey Silber | $273 | $233.7 | -8.6% | Oct 31, 2024 |
| Oppenheimer | Noah Kaye | $270 | $257.08 | -9.6% | Oct 21, 2024 |
| Oppenheimer | Noah Kaye | $252 | $238.73 | -15.6% | Aug 1, 2024 |
| Oppenheimer | Noah Kaye | $245 | $221.67 | -17.9% | Jun 13, 2024 |
| Robert W. Baird | David Manthey | $235 | $194.64 | -21.3% | Apr 16, 2024 |
| Stifel Nicolaus | Michael Hoffman | $220 | $196.77 | -26.3% | Apr 15, 2024 |
| BMO Capital | Jeffrey Silber | $225 | $200.57 | -24.6% | Mar 28, 2024 |
| Truist Financial | Tobey Sommer | $200 | $167.67 | -33.0% | Aug 3, 2023 |
| Needham | James Ricchiuti | $182 | $167.58 | -39.0% | Jul 7, 2023 |
| Truist Financial | Tobey Sommer | $165 | $143.4 | -44.7% | Apr 18, 2023 |
| Stifel Nicolaus | Analyst unavailable | $145 | $116.78 | -51.4% | Sep 2, 2022 |
| BMO Capital | Analyst unavailable | $124 | $106.92 | -58.5% | Aug 4, 2022 |
| Raymond James | Analyst unavailable | $145 | $108.15 | -51.4% | Aug 4, 2022 |
| Needham | Analyst unavailable | $140 | $108.15 | -53.1% | Aug 4, 2022 |
| Berenberg Bank | Alexander Leach | $118 | $101.67 | -60.5% | Aug 24, 2021 |
| Oppenheimer | Noah Kaye | $105 | $90.73 | -64.8% | Jun 29, 2021 |
Track every rating change on CLH the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationClean Harbors, Inc. delivers a comprehensive range of environmental and industrial services across North America. The company is structured into two primary divisions: Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment manages the entire lifecycle of waste, from collection and transportation to treatment and final disposal of both hazardous and non-hazardous materials. This involves employing various techniques including resource reclamation, physical processing, fuel blending, incineration, secure landfilling, wastewater purification, and the proper handling of laboratory chemicals and explosive materials. Its specialized CleanPack services meticulously manage the collection, identification, categorization, bespoke packaging, transportation, and ultimate disposal of sensitive laboratory chemicals and household hazardous waste.…
Historical context
All CLH earningsIndustrials peers this season
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Latest beats and misses
Who reports nextBeat on EPS
- TSEMFY2026 Q3 · November 2, 2026+7.5% EPS-6.7% move
- CLXFY2027 Q1 · November 2, 2026+44.9% EPS+2.2% move
- AAPLFY2026 Q4 · November 2, 2026+3.0% EPS-1.8% move
- PLTRFY2026 Q3 · November 2, 2026+8.3% EPS-3.1% move
- ETRFY2026 Q3 · November 2, 2026+14.5% EPS-0.2% move
- OFY2026 Q3 · November 2, 2026+5.7% EPS+1.1% move
Missed on EPS
- VRTXFY2026 Q3 · November 2, 2026-1.2% EPS-1.0% move
- PEGFY2026 Q3 · November 2, 2026-3.4% EPS+0.1% move
- RYAAYFY2027 Q2 · November 2, 2026-0.3% EPS+2.9% move
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
Get the CLH recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-11-03T14:40:45.572355+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T14:40:45.569608+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.