Clean Harbors Narrows Guidance, Shares Sink

Clean Harbors reported third-quarter adjusted EPS of $2.21 versus about $2.36 consensus and revenue of $1.55 billion, modestly below expectations. The company tightened (narrowed) its full-year adjusted EBITDA guidance to $1.16–$1.18 billion, calling the shortfall a temporary, macro-driven headwind. Shares fell sharply — plunging as much as 12% intraday and down roughly 6.7% over the past month and about 5% year-to-date. Several analysts trimmed targets or adjusted ratings after the print, leaving the stock trading materially below some price targets and intrinsic-value estimates. Management points to long-term strength (roughly a 257% total shareholder return over five years) but also faces risks from zero‑waste manufacturing trends and tighter regulatory hurdles that could constrain margin and revenue expansion. Investors will be watching management commentary and near-term estimate revisions to determine whether the weakness is transitory or indicative of a longer slowdown.