Clean Harbors, Inc. · NYSE:CLH
Clean Harbors — Q3 2026 Earnings Presentation
16 slides from Clean Harbors's earnings presentation, Oct 28, 2026
Slide 1: Third-Quarter 2026 Investor Review
Third-Quarter 2026 Investor Review October 28, 2026
Slide 2: Forward Looking Statements and GAAP Disclaimer
Forward Looking Statements and GAAP Disclaimer These slides contain (and the accompanying oral discussion will contain) forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "seeks,“ “will,” "should," "estimates,
Slide 3: Environmental Services
Environmental Services $1,551.1 $1,331.3 Q3 Performance ▪ Revenue increased YoY due to robust growth in Field Services as well as SK Environmental Services and Technical Services. Revenue +17% Acquisitions also contributed. A large-scale ER event totaled (in millions) ~$120 million in Field Services
Slide 4: Safety-Kleen Sustainability Solutions
Safety-Kleen Sustainability Solutions $318.3 Q3 Performance $218.0 ▪ Revenue rose sharply primarily due to increased pricing Revenue caused by continued global scarcity of base and blended +46% (in millions) products ▪ Adjusted EBITDA more than tripled as our re-refining spread remained wide due to
Slide 5: Disciplined Capital Allocation Strategy – Driven by ROIC
Disciplined Capital Allocation Strategy – Driven by ROIC ▪ Invest in capex to drive organic growth ▪ Evaluate acquisition and divestiture opportunities ▪ Execute authorized buyback plan ▪ Assess current debt structure and leverage PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 6
Slide 6: Financial Overview
FINANCIAL OVERVIEW PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 7
Slide 7: Q3 Income Statement
Q3 Income Statement (in millions, except per share data) Q3 2026 Q3 2025 Revenues $1,869.4 $1,549.3 Cost of revenues $1,208.0 $1,048.5 Gross profit $661.4 $500.8 Gross margin % 35.4% 32.3% Selling, general and administrative expenses $217.1 $189.6 SG&A % 11.6% 12.2% Depreciation and amortization $12
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights (in millions) 9/30/26 6/30/26 12/31/25 Cash and short-term marketable securities $516.6 $516.7 $953.7 Billed and unbilled receivables $1,492.2 $1,463.4 $1,205.0 Accounts payable $551.8 $518.2 $506.6 Current and long-term debt $2,889.9 $2,771.9 $2,776.2 Environmental liabilit
Slide 9: Cash Flow Highlights
Cash Flow Highlights Q3 2026 Q3 2025 (in millions) Cash from operations $419.2 $302.0 Capital expenditures, net of disposals ($168.1) ($83.3) Cash investments in strategic growth projects $72.0 $11.9 Adjusted free cash flow* $323.1 $230.6 Share repurchases $25.0 $50.0 * Please refer to the appendix
Slide 10: Guidance (as of October 28, 2026)
Guidance (as of October 28, 2026) Full-Year 2026 (in millions) Range Net Income $528 to $563 Adjusted EBITDA* $1,440 to $1,480 Net Cash from Operating Activities $970 to $1,090 Adjusted Free Cash Flow* $600 to $660 * Please refer to the appendix in this presentation for reconciliations of Adjusted E
Slide 11: Appendix
APPENDIX PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 12
Slide 12: Non-GAAP Results Reconciliation
Non-GAAP Results Reconciliation (in thousands, except percentages) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2026 2025 2026 2025 Net income $ 208,100 $ 118,799 $ 441,765 $ 304,384 Accretion of environmental liabilities 3,531 3,499 10,575 10,710 Stoc
Slide 13: Non-GAAP Results Reconciliation
Non-GAAP Results Reconciliation (in thousands) Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2026 2025 2026 2025 Net cash from operating activities $ 419,203 $ 301,987 $ 664,673 $ 511,632 Additions to property, plant and equipment (172,842) (94,445) (39
Slide 14: Non-GAAP Guidance Reconciliation
Non-GAAP Guidance Reconciliation For the Year Ending (in millions) December 31, 2026 Projected net income $528 to $563 Adjustments: Accretion of environmental liabilities 16 to 15 Stock-based compensation 50 to 53 Depreciation and amortization 500 to 490 Interest expense, net 160 to 155 Provision fo
Slide 15: Questions
Questions PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 16
Slide 16: (NYSE: CLH)
(NYSE: CLH) 42 Longwater Drive Norwell, MA 02061 Jim Buckley SVP Investor Relations 781-792-5100 Email: [email protected] www.cleanharbors.com PEOPLE AND TECHNOLOGY CREATING A CLEANER, SAFER ENVIRONMENT 17