CLEAN HARBORS INC — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 58/100
What the filing says
Clean Harbors reported Q2 2026 revenue of $1.74B (+12% YoY), net income of $170.5M (+34%), and Adjusted EBITDA of $409.0M (+22%) with margin expansion to 23.6%. The company won a 10-year, $600M disposal contract with a customer expanding U.S. manufacturing (commencing Q4 2026, reaching full capacity in 2030). Clean Harbors agreed to acquire ES&H for $305M cash (announced July 29, 2026, closing expected H2 2026), adding ~$90M annual revenue and ~$30M Adjusted EBITDA with ~$5M expected annual synergies. Full-year 2026 Adjusted EBITDA guidance raised to $1.35–$1.41B midpoint $1.38B (up $110M); adjusted free cash flow guidance raised to $520–$580M midpoint $550M (up $30M).
Why this rating
Moderate significance. $600M contract is ~5% of $11.7B market cap over 10 years (~$60M/year run-rate). $305M acquisition is ~2.6% of market cap, modest vs. scale. Strong Q2 results and raised FY guidance are positive but incremental. Combined, these represent meaningful organic growth and strategic expansion, but not transformational relative to company size.
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