Clean Harbors, Inc. (CLH) Bundle
A company's mission statement, vision, and core values are not just corporate boilerplate; they are the strategic compass that steers financial performance, especially for a complex, essential service provider like Clean Harbors, Inc. (CLH).
When you see that the company is projecting full-year 2025 Adjusted EBITDA to hit a midpoint of around $1.165 billion, representing a 4% growth year-over-year, you have to ask: Is that growth driven by a clear, executable vision, or just market tailwinds? The firm's commitment to the circular economy, for instance, directly translates into a projected 2025 Adjusted Free Cash Flow of up to $495 million, a gain of more than 30% from the prior year, so how much of that is truly baked into the culture?
Understanding their foundational principles-from their vision to be the premier provider of environmental services to their hyper-focus on safety, evidenced by a year-to-date Q3 2025 Total Recordable Incident Rate (TRIR) of just 0.49-is defintely key to evaluating if their $13.2 billion market capitalization is sustainable. Are these values just words, or are they the engine driving their impressive financial results?
Clean Harbors, Inc. (CLH) Overview
You're looking for a clear, no-nonsense assessment of Clean Harbors, Inc., and you should know right away that this company is a critical, yet often overlooked, player in North American industrial and environmental services. Established in 1980, Clean Harbors has grown far beyond its emergency spill response roots to become the leading provider of environmental and industrial services across the continent.
The company's business is split into two main segments: Environmental Services (ES) and Safety-Kleen Sustainability Solutions (SKSS). ES handles the heavy lifting-hazardous and non-hazardous waste disposal, emergency response, and industrial services. SKSS focuses on the re-refining of used oil and the sale of blended and lubricating oils, essentially turning a waste product into a valuable commodity. It's a smart, circular business model. For the twelve months ending September 30, 2025, the company reported a Trailing Twelve Months (TTM) revenue of just over $5.962 billion.
Here's the quick math on their core services:
- Technical Services: Complex waste management and remediation.
- Safety-Kleen: Used oil collection and re-refining.
- Field Services: Emergency spill cleanup and rapid response.
Q3 2025 Financial Performance: Growth Where It Counts
The third quarter of 2025, with results released in late October, shows a company that's executing well against strong demand, despite some macroeconomic headwinds. Clean Harbors delivered a Q3 revenue of $1.55 billion. That's a solid number, driven by the core Environmental Services segment, which alone generated $1.33 billion in revenue for the quarter.
The real story is the segment-level growth. Technical Services revenue, which includes their high-demand disposal assets, grew by a significant 12% year-over-year. This segment is defintely benefiting from increased remediation and waste project work. Landfill volumes were up a massive 40% on project strength, and incineration utilization (excluding the new Kimball incinerator) was high at 92%. That's operating leverage in action.
The profitability metrics are also strong: Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Q3 2025 increased 6% year-over-year to $320.2 million, with the margin improving by 100 basis points to 20.7%. Net income for the quarter was $118.8 million, translating to $2.21 per diluted share. For the full year, management is confident, revising their Adjusted EBITDA guidance to a range of $1.155 billion to $1.175 billion.
A North American Environmental Services Leader
Clean Harbors isn't just a big company; it's a market leader whose success is tied directly to regulatory complexity and the need for specialized disposal infrastructure. They are the leading provider of environmental and industrial services throughout North America for a reason. Their network of disposal and recycling assets is a significant competitive moat, meaning it's incredibly hard and expensive for new players to replicate their infrastructure.
The company is also leaning into high-growth, high-margin areas like their Total PFAS Solution (Per- and polyfluoroalkyl substances) offering. This is a multi-million dollar opportunity; in 2025, their PFAS-related revenue is expected to grow by 10% to 20% from an annual base of $80 million to $100 million. Plus, they are investing $210 million to $220 million in a new facility to upgrade and recycle re-refinery byproducts, a strategic move to boost the profitability of their Safety-Kleen segment. To understand the deeper financial mechanics behind these numbers, you should read Breaking Down Clean Harbors, Inc. (CLH) Financial Health: Key Insights for Investors.
Clean Harbors, Inc. (CLH) Mission Statement
You're looking for the bedrock of a company like Clean Harbors, Inc., and that starts with its mission and vision. For a leader in the environmental and industrial services space, the mission isn't just a poster on the wall; it's the core mandate that drives every investment decision, especially when you consider their full-year 2025 Adjusted EBITDA guidance is pegged at a midpoint of around $1.165 billion. That kind of financial power is built on a clear, three-part commitment.
Clean Harbors' long-term goal is simple but ambitious: to be recognized as the premier provider of environmental, energy and industrial services. This vision guides their capital allocation, their operational efficiency, and their strategy to dominate a complex, regulated market. It's about being the best, not just the biggest, and it's backed by tangible results like the $1.55 billion in revenue they reported for the third quarter of 2025.
Component 1: Uncompromising Safety as the Core Value
The first and most critical component of the company's operating philosophy is safety-it's their number one core value. In a business that handles hazardous waste, emergency spill response, and complex industrial cleaning, a safety failure isn't just a financial hit; it's a catastrophe. They don't just talk about it; they embed it with their 'Safety Starts with Me: Live It 3-6-5 mindset.' That's a clean one-liner for a serious commitment.
This focus on safety directly translates into operational excellence and, defintely, better margins. Here's the quick math: fewer incidents mean lower costs, better insurance rates, and higher customer trust. For the second quarter of 2025, Clean Harbors posted a Total Recordable Incident Rate (TRIR) of just 0.40, which they noted was the lowest quarterly rate in their history. By the end of Q3 2025, their year-to-date TRIR was only 0.49, proving their safety programs are working to keep employees protected and on the job.
- Achieve best-in-class safety metrics.
- Reduce operational risk for customers.
- Maintain compliance network leadership.
Component 2: Premier Environmental and Industrial Service Delivery
Being the premier provider means offering an unmatched breadth of services and a superior network of assets. You can't be premier if you can't solve the full problem. Clean Harbors serves a diverse customer base, including a majority of Fortune 500 companies, by offering an end-to-end solution for hazardous and non-hazardous waste management.
Their commitment to high-quality service is measurable in their operational throughput. For example, in the third quarter of 2025, the company's incineration utilization (excluding the new Kimball incinerator) was an impressive 92%, showing their disposal assets are running at near-peak efficiency to meet high demand. Also, their landfill volumes were up 40% in Q3 2025, which reflects the strength of their project pipeline and their ability to capture market share for disposal services. This vertical integration-from collection and transport to final disposal and recycling-is what makes them a leader. To dive deeper into how they manage this complex structure, you should check out Clean Harbors, Inc. (CLH): History, Ownership, Mission, How It Works & Makes Money.
Component 3: Protecting the Environment for Future Generations
The final pillar of their mission is the commitment to environmental protection and sustainability, which is literally their business model. They are a 'handprint' company, meaning their services help other companies minimize their own environmental impact. This isn't just altruism; it's a massive, growing market opportunity driven by increasing regulatory scrutiny and corporate sustainability goals.
The Safety-Kleen Sustainability Solutions (SKSS) segment, for instance, is North America's largest re-refiner and recycler of used oil, producing approximately 150 million gallons of base oil annually. This closed-loop system turns a waste stream into a recovered product, which is a powerful economic and environmental story. The entire organization is focused on assisting customers with safely disposing of their waste and protecting the environment for today and future generations. This dual focus on compliance and resource recovery is what ensures their continued financial stability, which is reflected in the anticipated GAAP net income for full-year 2025 in the range of $379 million to $400 million.
Clean Harbors, Inc. (CLH) Vision Statement
You want to know how Clean Harbors, Inc.'s core philosophy translates into their financial outlook, and that's a smart question. The company's vision, mission, and values are not just corporate boilerplate; they are the strategic roadmap that drives their projected $1.165 billion Adjusted EBITDA for the 2025 fiscal year. Their strategy is simple: be the best at what they do, and the financial results follow.
The core takeaway is that Clean Harbors is leveraging its unique, vertically integrated asset base-like its network of over 100 waste disposal facilities-to solidify its position as the market leader, especially in high-demand areas like PFAS destruction. This focus is what makes their financial guidance for 2025 so compelling.
Vision: To Be the Premier Provider
Clean Harbors' Vision Statement is: 'To be recognized as the premier provider of environmental, energy and industrial services.' Premier means more than just being the biggest; it means being the go-to solution for the most complex, regulated, and hazardous waste streams. This is where their competitive moat (economic barrier to entry) lies.
Think about it: who do you call when a Fortune 500 company needs to dispose of hazardous waste? You call the company with the proprietary disposal assets and the compliance track record. This premier status allows them to command pricing power, which is a key driver for their expected GAAP net income in the range of $379 million to $400 million for 2025. That's a strong margin play built on reputation and infrastructure.
- Premier status drives pricing power.
- Infrastructure is a major competitive moat.
- Focus on complex waste streams ensures high barriers to entry.
Mission: Safety is Our No. 1 Priority
The Mission Statement for Clean Harbors is unequivocally clear: 'Company-wide, Safety is Clean Harbors No. 1 Priority.' This isn't just a feel-good statement; it is their operational and financial backbone. In the environmental services industry, a major safety incident can wipe out a year's worth of profit through fines, litigation, and reputational damage.
A relentless focus on safety is defintely a direct input to profitability. For example, their year-to-date Total Recordable Incident Rate (TRIR) as of the third quarter of 2025 was just 0.49, putting them on track for a record year. Here's the quick math: a lower TRIR means fewer lost workdays, lower insurance premiums, and higher operational efficiency, which all contribute to their projected 4% year-over-year growth in Adjusted EBITDA. It's a classic case of doing the right thing for the business.
Core Values: Compliance, People, and Sustainability
While safety is the mission, the supporting core values-Compliance, People, and Environmental Commitment-are what execute the vision. They are committed to maintaining the 'Safest, Most Compliant Network of Environmental Operations.' This commitment is essential because their business is intrinsically linked to government regulation and the need for end-to-end hazardous waste management.
Their commitment to their more than 20,000 employees is also a core value, recognizing that people are their greatest asset in a service-driven industry. Plus, the push for sustainability is a huge opportunity, not just a cost. The Safety-Kleen Sustainability Solutions segment, which is North America's largest re-refiner of used oil, produces about 150 million gallons of base oil annually. That closed-loop system is a massive competitive advantage, turning a waste stream into a profitable product. You can dive deeper into how this impacts their balance sheet in Breaking Down Clean Harbors, Inc. (CLH) Financial Health: Key Insights for Investors.
Clean Harbors, Inc. (CLH) Core Values
When you look at a company like Clean Harbors, Inc., you're not just analyzing its balance sheet; you're assessing its operational DNA, which is anchored in its core values. Our analysis shows that the company's success-evidenced by the projected 2025 Adjusted EBITDA midpoint of $1.165 billion-is directly tied to its unwavering commitment to three fundamental pillars: Safety, Environmental Stewardship, and People.
This isn't corporate jargon; it's a strategic framework. For a deeper dive into how this foundation was built, you can check out Clean Harbors, Inc. (CLH): History, Ownership, Mission, How It Works & Makes Money. The near-term risks and opportunities are mapped to these values, so let's break down the tangible results of each one.
Health and Safety: Our Number One Priority
In the environmental and industrial services space, safety isn't a compliance check; it's a non-negotiable prerequisite for staying in business and protecting your team. Clean Harbors, Inc. explicitly names Health and Safety as its number one core value, and the numbers from the 2025 fiscal year defintely back that up.
The company tracks its Total Recordable Incident Rate (TRIR)-a key metric defined by the Occupational Safety and Health Administration (OSHA) that measures the number of work-related injuries per 100 full-time workers. For the third quarter of 2025, the year-to-date TRIR stood at a remarkably low 0.49, putting the company on track for its best annual safety performance in history.
Here's the quick math: a TRIR below 1.0 is considered excellent in this industry, so a 0.49 rate is an industry-leading result. This is driven by concrete programs like its participation in the OSHA Voluntary Protection Program (VPP), where Clean Harbors, Inc. has six hazardous waste management facilities admitted into the VPP Star program.
- Achieved Q2 2025 TRIR of just 0.40.
- Six facilities hold OSHA VPP Star certification.
- Commitment protects over 20,000 employees.
Environmental Commitment: Building a Cleaner World
The core business of Clean Harbors, Inc. is environmental stewardship, so this value is intertwined with its financial model. The company's vision is to be the premier provider of environmental, energy, and industrial services, which means their environmental performance is a direct indicator of their market leadership.
In 2024, the company achieved its 2030 recycling goal six years ahead of schedule by recycling 1.9 million metric tons of materials. This achievement is a tangible example of its commitment, and it translates directly into a strong Environmental Services (ES) segment, which saw top-line growth in Q3 2025 despite some vertical slowdowns.
The company also focuses on its Net Climate Benefit Factor, which compares avoided greenhouse gas (GHG) emissions from its services to its own operational emissions. In 2024, the factor was 2.3, meaning the company avoided more than twice the GHG generated from its operations, eliminating nearly 4 million metric tons of GHG. Plus, their 'Total PFAS Solution' for per- and polyfluoroalkyl substances destruction has demonstrated 99.9999% destruction at company facilities, positioning them to capture a significant market opportunity as new regulations take effect.
Our People and Community Engagement: Investing in the Workforce
A company with over 20,000 employees across North America understands that its people are its greatest asset, especially in a service-based industry. This core value focuses on cultivating a culture of inclusion, valuing diverse perspectives, and investing in the communities where they operate.
The social component of their Environmental, Social, and Governance (ESG) strategy is about more than just headcount; it's about retention and development. While average employee tenure is a key metric, the company also focuses on community engagement through investments primarily focused on education, community activities, and career-related opportunities.
What this estimate hides is the ongoing challenge of a tight labor market for skilled technical services roles, but the company's emphasis on a low TRIR and a strong culture is a key differentiator for recruiting. Their commitment to their people is a long-term investment that supports the overall growth strategy, which is targeting an Adjusted Free Cash Flow midpoint of $475 million for 2025.

Clean Harbors, Inc. (CLH) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.