The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how waste management stocks fared in Q4, starting with Clean Harbors (NYSE: CLH).

Waste management companies can possess licenses permitting them to handle hazardous materials. Furthermore, many services are performed through contracts and statutorily mandated, non-discretionary, or recurring, leading to more predictable revenue streams. However, regulation can be a headwind, rendering existing services obsolete or forcing companies to invest precious capital to comply with new, more environmentally-friendly rules. Lastly, waste management companies are at the whim of economic cycles. Interest rates, for example, can greatly impact industrial production or commercial projects that create waste and byproducts.

The 9 waste management stocks we track reported a slower Q4. As a group, revenues missed analysts’ consensus estimates by 1.4%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6.1% since the latest earnings results.

Clean Harbors (NYSE: CLH)

Established in 1980, Clean Harbors (NYSE: CLH) provides environmental and industrial services like hazardous and non-hazardous waste disposal and emergency spill cleanups.

Clean Harbors reported revenues of $1.5 billion, up 4.8% year on year. This print exceeded analysts’ expectations by 2.5%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue and EPS estimates.

“We concluded 2025 with strong fourth-quarter results, including higher profitability in both of our operating segments,” said Eric Gerstenberg, Co-Chief Executive Officer.

Clean Harbors achieved the biggest analyst estimates beat of the whole group. The stock is up 10.3% since reporting and currently trades at $296.73.

Is now the time to buy Clean Harbors? Access our full analysis of the earnings results here, it’s free.

Best Q4: Montrose (NYSE: MEG)

Founded to protect a tree-lined two-lane road, Montrose (NYSE: MEG) provides air quality monitoring, environmental laboratory testing, compliance, and environmental consulting services.

Montrose reported revenues of $193.3 million, up 2.2% year on year, outperforming analysts’ expectations by 2.5%. The business had an exceptional quarter with a beat of analysts’ EPS and adjusted operating income estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 10.6% since reporting. It currently trades at $20.90.

Is now the time to buy Montrose? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Perma-Fix (NASDAQ: PESI)

Tackling hazardous waste challenges since 1990, Perma-Fix (NASDAQ: PESI) provides environmental waste treatment services.

Perma-Fix reported revenues of $15.72 million, up 6.9% year on year, falling short of analysts’ expectations by 11.2%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.

Perma-Fix delivered the weakest performance against analyst estimates in the group. The stock is flat since the results and currently trades at $12.04.

Read our full analysis of Perma-Fix’s results here.

Waste Connections (NYSE: WCN)

Operating a network of municipal solid waste landfills in the U.S. and Canada, Waste Connections (NYSE: WCN) is North America's third-largest waste management company providing collection, disposal, and recycling services.

Waste Connections reported revenues of $2.37 billion, up 5% year on year. This result met analysts’ expectations. Zooming out, it was a mixed quarter as it also recorded a narrow beat of analysts’ EBITDA estimates but full-year revenue guidance meeting analysts’ expectations.

The stock is down 6.8% since reporting and currently trades at $159.97.

Read our full, actionable report on Waste Connections here, it’s free.

Quest Resource (NASDAQ: QRHC)

Recycling corporate waste to help companies be more sustainable, Quest Resource (NASDAQ: QRHC) is a provider of waste and recycling services.

Quest Resource reported revenues of $58.91 million, down 15.8% year on year. This print missed analysts’ expectations by 3.8%. Overall, it was a disappointing quarter as it also logged a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Quest Resource had the slowest revenue growth among its peers. The stock is down 21.9% since reporting and currently trades at $1.13.

Read our full, actionable report on Quest Resource here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.