Clean Harbors Boosts Profitability with Strong Q4 2025 Results
Event summary
- Clean Harbors reported Q4 2025 revenues of $1.50 billion, up from $1.43 billion in Q4 2024.
- Adjusted EBITDA increased by 8% year-over-year to $278.7 million.
- The company announced a $130 million acquisition of certain businesses from Depot Connect International (DCI).
- Full-year 2025 revenues grew 2% to $6.03 billion, with Adjusted EBITDA up 5% to $1.17 billion.
The big picture
Clean Harbors' strong Q4 2025 results highlight its resilience in a muted industrial backdrop, driven by pricing initiatives and cost management. The acquisition of DCI businesses aligns with its strategic focus on waste handling and railcar cleaning services. As the company continues to invest in organic growth and expand its service offerings, it positions itself to capitalize on broader industry trends such as reshoring and environmental remediation.
What we're watching
- Organic Growth
- How Clean Harbors' $50 million investment in expanding its vacuum truck fleet will impact its organic growth trajectory.
- Market Demand
- Whether the company can sustain high demand for its disposal and recycling network amid reshoring trends and PFAS remediation projects.
- Execution Risk
- The pace at which Clean Harbors integrates the newly acquired DCI businesses and realizes expected synergies.
Related topics