Record Performance Yet… $1.6 Billion Vanished in a Day for Environmental Stocks

Clean Harbors Inc. (CLH), a U.S. environmental and industrial waste management company, plunged 8.2% on the New York Stock Exchange on May 6, closing at $287.98. Trading volume exceeded 1.13 million shares, and roughly $1.16 billion in market capitalization—about ₩1.6 trillion—vanished in a single day.

In its first-quarter 2026 results released today, Clean Harbors reported record quarterly performance with revenue of $1.46 billion and net income of $63.2 million and raised its full-year adjusted EBITDA guidance. However, the stock tumbled as revenue growth fell short of market expectations and overall valuation concerns weighed on investors. The company also agreed to acquire Depot Connect International’s industrial and rail services business for approximately $130 million (around ₩180 billion), expanding its service portfolio.

Headquartered in Massachusetts, Clean Harbors is North America’s largest environmental and industrial services provider, specializing in hazardous waste disposal, industrial facility cleaning, spill response, and remediation of “forever chemicals” such as PFAS. In 2024, the company generated about $5.89 billion in revenue—roughly ₩8 trillion—serving regulation-sensitive clients in the refining, chemical, manufacturing and government sectors.