Research Alert: Clean Harbors: Q1 Results Surpass Expectations As Margins Widen

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

CLH reported Q1 EPS of $1.19, beating consensus of $1.15, with record revenue of $1.46B reflecting modest 2% growth. We attribute the beat to strengthened profitability that more than offset limited top-line expansion during the quarter. Environmental Services achieved its 16th consecutive quarter of Y/Y adjusted EBITDA margin expansion, with revenues growing 3.6% to $1.3B and margins improving 50 bps, led by strong demand for disposal, recycling services, and PFAS-related work. CLH raised full-year 2026 guidance, increasing adjusted EBITDA midpoint by $40M to $1.27B and lifting adjusted free cash flow guidance by $10M to $520M. Safety-Kleen was a standout with significant margin recovery despite a 7% revenue decline, as adjusted EBITDA grew 16.7% to $33M with margins expanding 320 bps from charge-for-oil pricing strategy. For Q2, CLH expects adjusted EBITDA growth of 5% to 9%, with the margin turnaround supporting continued expansion.