HighGravityDataClean 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
Interest expense, net
“144 to 139”
Period
FY2026
Measure
Company-defined measure
Source
Guidance table
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
Clean Harbors • 42 Longwater Drive • PO Box 9149 • Norwell, Massachusetts 02061-9149 • 800.282.0058 • www.cleanharbors.com An itemized reconciliation between reported GAAP net cash from operating activities and adjusted free cash flow is as follows (in thousands): For the Three Months Ended For the Twelve Months Ended December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Adjusted free cash flow Net cash from operating activities $ 355,093 $ 303,938 $ 866,725 $ 777,771 Additions to property, plant and equipment (121,749) (62,415) (424,918) (432,241) Cash investments in strategic growth projects 18,986 — 43,326 — Third-party transaction related costs 2,614 — 2,614 — Kimball startup costs — 3,253 — 3,253 Proceeds from sale and disposal of fixed assets 6,318 2,746 21,568 9,099 Adjusted free cash flow $ 261,262 $ 247,522 $ 509,315 $ 357,882 Adjusted EBITDA Guidance Reconciliation An itemized reconciliation between projected GAAP net income and projected Adjusted EBITDA is as follows (in millions): For the Year Ending December 31, 2026 Projected GAAP net income $410 to $461 Adjustments: Accretion of environmental liabilities 16 to 15 Stock-based compensation 35 to 38 Depreciation and amortization 450 to 440 Interest expense, net 144 to 139 Provision for income taxes 145 to 167 Projected Adjusted EBITDA $1,200 to $1,260 Adjusted Free Cash Flow Guidance Reconciliation An itemized reconciliation between projected GAAP net cash from operating activities and projected adjusted free cash flow is as follows (in millions). The Company excludes significant strategic growth investments, which the Company expects to realize future long-term benefits from, as they are not indicative of free cash flow generation for the current period. For the Year Ending December 31, 2026 Projected net cash from operating activities $820 to $940 Additions to property, plant and equipment (465) to (525) Cash investments in strategic growth projects 110 to 110 Proceeds from sale and disposal of fixed assets 15 to 15 Projected adjusted free cash flow $480 to $540 Clean Harbors • 42 Longwater Drive • PO Box 9149 • Norwell, Massachusetts 02061-9149 • 800.282.0058 • www.cleanharbors.com Conference Call Information Clean Harbors will conduct a conference call for investors today at 9:00 a.m. (ET) to discuss the information contained in this press release. During the call, management will discuss Clean Harbors’ financial results, business outlook and g
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.