Clean Harbors falls as investors weigh slight revenue miss and cash-flow usage despite upbeat Q1 and higher outlook

Clean Harbors, Inc. (CLH) is down 6.9% today. Here is some analysis on what might have caused this price movement.

Analysis: CLH posted a solid Q1 with higher earnings and raised full-year profitability and cash-flow guidance, but the stock appears to be reacting to a modest revenue shortfall versus expectations and a quarter that still consumed cash after heavy investment spending. This looks consistent with a “good results, but not good enough” reaction after investors had priced in a stronger top-line beat.

Details:

Clean Harbors reported first-quarter revenue of $1.46 billion and diluted EPS of $1.19, both up year over year.

Wall Street expectations implied a slightly higher revenue number (about $1.47 billion) even as earnings were modestly ahead of consensus.

The company raised its 2026 outlook for adjusted EBITDA (projected $1.24 billion to $1.30 billion) and adjusted free cash flow (projected $490 million to $550 million).

Q1 adjusted free cash flow was negative as the company spent heavily on capital expenditures and strategic growth investments, and cash and equivalents declined versus year-end.

Sources:

SEC, Investing.com, Business Wire

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CLH Insider Trading Activity

$CLH insiders have traded $CLH stock on the open market 10 times in the past 6 months. Of those trades, 0 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $CLH stock by insiders over the last 6 months:

ALAN S MCKIM (EXEC CHAIR, CTO.) has made 0 purchases and 2 sales selling 200,000 shares for an estimated $57,379,000.
BRIAN P WEBER (EVP (CHESI)) sold 4,683 shares for an estimated $1,373,945
ERIC W GERSTENBERG (CO-CEO) has made 0 purchases and 3 sales selling 4,101 shares for an estimated $1,137,430.
SHARON M. GABRIEL (EVP/CIO (CHESI)) sold 3,540 shares for an estimated $998,527
ERIC J. DUGAS (EVP CHIEF FINANCIAL OFFICER) sold 2,788 shares for an estimated $784,292
MARCY L. REED sold 836 shares for an estimated $240,717
JOHN R. WELCH sold 750 shares for an estimated $204,802

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

$CLH Hedge Fund Activity

We have seen 250 institutional investors add shares of $CLH stock to their portfolio, and 311 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 1,884,719 shares (-76.0%) from their portfolio in Q4 2025, for an estimated $441,928,911
LONE PINE CAPITAL LLC added 1,378,125 shares (+inf%) to their portfolio in Q4 2025, for an estimated $323,142,750
PICTET ASSET MANAGEMENT HOLDING SA removed 643,588 shares (-34.1%) from their portfolio in Q1 2026, for an estimated $184,535,987
PALESTRA CAPITAL MANAGEMENT LLC added 569,991 shares (+inf%) to their portfolio in Q4 2025, for an estimated $133,651,489
NORDEA INVESTMENT MANAGEMENT AB added 569,388 shares (+120.8%) to their portfolio in Q4 2025, for an estimated $133,510,098
WELLINGTON MANAGEMENT GROUP LLP removed 391,614 shares (-7.0%) from their portfolio in Q4 2025, for an estimated $91,825,650
FMR LLC added 342,379 shares (+1150.2%) to their portfolio in Q4 2025, for an estimated $80,281,027

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$CLH Government Contracts

We have seen $22,299,019 of award payments to $CLH over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

UCGPS25022 - PROVIDE LABOR, MATERIALS AND EQUIPMENT TO MITIGATE THE HARMFUL EFFECTS OF AN OIL SPILL OR HAZA...: $8,400,000
FY23: HAZARDOUS MATERIAL MANAGEMENT AND DISPOSAL: $930,512
WCF INDUSTRIAL HAZARDOUS/ NON-HAZARDOUS WASTE DISPOSAL: $807,221
DCF INDUSTRIAL HAZARDOUS AND NON-HAZARDOUS WASTE REMOVAL/DISPOSAL: $739,690
8511417098!NR01C6: $658,776

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$CLH Congressional Stock Trading

Members of Congress have traded $CLH stock 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $CLH stock by members of Congress over the last 6 months:

REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 2 times. They made 2 purchases worth up to $65,000 on 02/23, 12/03 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API.

$CLH Analyst Ratings

Wall Street analysts have issued reports on $CLH in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 01/20/2026

To track analyst ratings and price targets for $CLH, check out Quiver Quantitative's $CLH forecast page.

$CLH Price Targets

Multiple analysts have issued price targets for $CLH recently. We have seen 10 analysts offer price targets for $CLH in the last 6 months, with a median target of $308.5.

Here are some recent targets:

Tobey Sommer from Truist Securities set a target price of $325.0 on 04/20/2026
David Manthey from Baird set a target price of $350.0 on 04/16/2026
Bryan Burgmeier from Citigroup set a target price of $346.0 on 04/08/2026
Adam Bubes from Goldman Sachs set a target price of $306.0 on 04/08/2026
Jerry Revich from Wells Fargo set a target price of $309.0 on 03/18/2026
Jon Windham from UBS set a target price of $300.0 on 03/12/2026
William Grippin from Barclays set a target price of $280.0 on 02/23/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.