Clean Harbors — Feb 18, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000822818-26-000004
Showing in the filing
Adjusted EBITDA
“$1.20 billion to $1.26 billion”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 28
Expansion of share repurchase program
“$350 million”
Strategic investment in fleet expansion (vac…
“$50 million”
Strategic investment in vacuum truck fleet
“$50 million”
DCI acquisition purchase price for FY2026
“approximately $130 million”
DCI acquired businesses expected revenue for FY2025
“approximately $40 million”
Expected annual revenue from DCI acquisition for FY2025
“approximately $40 million”
DCI acquired businesses expected Adjusted EB… for FY2025
“$11 million”
Expected annual Adjusted EBITDA from DCI acq… for FY2025
“$11 million”
DCI acquisition close
“first half of 2026”
Payback on vacuum truck fleet investment
“five-year”
Payback period on fleet expansion investment for the long term
“five-year”
Adjusted EBITDA growth (ES segment) for Q1 FY2026
“4% to 7% year over year”
Adjusted EBITDA growth (consolidated) for Q1 FY2026
“up 1% to 3%”
Adjusted EBITDA for FY2026
“$1.20 billion to $1.26 billion”
GAAP net income (basis for Adjusted EBITDA) for FY2026
“$410 million to $461 million”
Net cash from operating activities (basis fo… for FY2026
“$820 million to $940 million”
Projected GAAP net income for FY2026
“$410 to $461”
Accretion of environmental liabilities for FY2026
“16 to 15”
Stock-based compensation for FY2026
“35 to 38”
Depreciation and amortization for FY2026
“450 to 440”
Interest expense, net for FY2026
“144 to 139”
Provision for income taxes for FY2026
“145 to 167”
Projected Adjusted EBITDA for FY2026
“$1,200 to $1,260”
Projected net cash from operating activities for FY2026
“$820 to $940”
Additions to property, plant and equipment for FY2026
“(465) to (525)”
Cash investments in strategic growth projects for FY2026
“110 to 110”
Proceeds from sale and disposal of fixed ass… for FY2026
“15 to 15”
Projected adjusted free cash flow for FY2026
“$480 to $540”
Exhibit 99.1 · the passage around this item
… earlier in the release
We expect to achieve growth in revenue, Adjusted EBITDA and margins again in 2026, as we continue to deliver value to our shareholders.” In the first quarter of 2026, Clean Harbors expects Adjusted EBITDA to grow 4% to 7% year over year in its ES segment and be up 1% to 3% on a consolidated basis. For full-year 2026, Clean Harbors expects: • Adjusted EBITDA in the range of $1.20 billion to $1.26 billion, with a midpoint of $1.23 billion. This Adjusted EBITDA range is based on anticipated GAAP net income in the range of $410 million to $461 million. • Adjusted free cash flow in the range of $480 million to $540 million, with a midpoint of $510 million. This range is based on anticipated net cash from operating activities in the range of $820 million to $940 million. Clean Harbors • 42 Longwater Drive • PO Box 9149 • Norwell, Massachusetts 02061-9149 • 800.282.0058 • www.cleanharbors.com Non-GAAP Results Clean Harbors reports Adjusted EBITDA, which is a non-GAAP financial measure and should not be considered an alternative to net income or other measurements under generally accepted accounting principles (GAAP) but viewed only as a supplement to those measurements. Adjusted EBITDA is not calculated identically by all companies, and therefore the Company’s measurement of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Clean Harbors believes that Adjusted EBITDA provides additional useful information to investors because the Company’s management routinely evaluates the performance of its businesses based upon levels of Adjusted EBITDA.
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.