CLH · Clean Harbors Q2 FY2026 earnings call record财报电话会记录

“Adjusted EBITDA was up 8% in the quarter, with ES segment margin up 10 basis points to 27.9%.”

“The 10-year agreement, which centers on incineration waste and complex wastewater volumes, carries an estimated value of $600 million with options to expand in scope and extend duration.”

“Our long-term plans for this market opportunity remain relatively modest as we are targeting growth to $200 million in annual revenue by the end of 2028.”

“In order to hit that mark, we will be investing an additional $50 million in CapEx over the next three years to increase the specialty equipment, tankage, and vehicles we will need to service customers.”

“We expect to derive attractive shareholder returns from this transaction, as ES&H has built an outstanding reputation with its customers over a 30-year history.”

“Additionally, we recently closed on a $30 million acquisition of a New England-based field services and waste oil collection business called Western Oil that should deliver $4 million-$6 million of annual adjusted EBITDA.”

“Total Q2 revenue increased 12% to $1.74 billion, reflecting a continuation of many of the trends we saw exiting Q1 and discussed on our previous earnings call.”

“Net income in Q2 increased 34% as we delivered EPS of $3.22 per share.”

“For 2026, excluding our expected $85 million of spend on the SDA unit, $25 million related to our fleet investment, and $10 million related to our data center strategy that Eric highlighted, we now expect net CapEx to be in the range of $370 million-$430 million, with a midpoint of $400 million.”

“This 2026 guidance midpoint now assumes that our SKSS segment delivers approximately $275 million of adjusted EBITDA, double the amount we delivered in 2025 and significantly higher than the $165 million we provided in May when we expected the sharp spike in base oil prices to be more temporary.”

“When we look at some of the trends that we're seeing and how we're growing those volumes, we're certainly getting tighter with customers.”

“Then as it relates to ES profitability, you touched on a few of these items, but you saw 8% growth margin up just 10 basis points.”