Latest news with #CleanHarbors'
Business Wire
30-07-2025
- Business
- Business Wire
Clean Harbors Announces Second-Quarter 2025 Financial Results
NORWELL, Mass.--(BUSINESS WIRE)-- Clean Harbors, Inc. ('Clean Harbors' or the 'Company') (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced financial results for the second quarter ended June 30, 2025. 'Our second-quarter results reflect the consistent profitable growth of our Environmental Services (ES) segment, where we experienced strong demand for our disposal assets, and a stabilization of our Safety-Kleen Sustainability Solutions (SKSS) segment, where our collection strategies yielded favorable results,' said Mike Battles, Co-Chief Executive Officer. 'We improved our consolidated Adjusted EBITDA margin by 60 basis points from a year ago through lowering our overall cost structure with a sharp focus on our SG&A spend. In addition, we posted the best quarterly safety results in our history by generating a Total Recordable Incident Rate (TRIR) of just 0.40. We stand at 0.45 for the first half of the year – well on track to achieve our annual target as our programs and emphasis on working safely are helping to keep our employees protected.' Second-Quarter 2025 Results Revenues were $1.55 billion, flat with the same period of 2024. Income from operations was $210.3 million, compared with $215.5 million in the second quarter of 2024. Net income was $126.9 million, or $2.36 per diluted share, compared with $133.3 million, or $2.46 per diluted share, for the same period in 2024. Adjusted EBITDA (see description and reconciliation below) increased to $336.2 million, compared with $327.8 million in the same period of 2024. Q2 2025 Segment Review 'Despite substantial growth in the year ago quarter, our ES segment still achieved 3% growth in revenue and 5% growth in Adjusted EBITDA. This revenue growth, combined with pricing and SG&A cost controls, enabled our ES segment to achieve its 13th consecutive quarter of year-over-year improvement in segment Adjusted EBITDA margin,' said Eric Gerstenberg, Co-Chief Executive Officer. 'Top-line growth in the segment was led by Safety-Kleen Environmental Services, which rose 9% through pricing and growth in its core offerings. Technical Services revenue grew 4% on strength in disposal volumes. Incineration utilization, excluding the new Kimball incinerator, was outstanding at 89% as our facilities maximized throughput. Average incineration price rose 7% on a mix-adjusted basis. Field Services and Industrial Services performed well in the quarter, improving margins year-over-year.' 'Results in our SKSS segment were ahead of our expectations, supported by our waste oil collection strategies and success in aggressively managing our re-refining spread,' said Battles. 'We gathered 64 million gallons of waste oil in the quarter, which enabled us to hit our production goals. We believe that our shift to higher charge-for-oil (CFO) pricing, which has continued since our strategic program rollout last November, positions us well for the back half of the year. We currently expect to achieve our annual targets for this business in 2025, while reducing the volatility we've seen in recent years.' Business Outlook and Financial Guidance 'We enter the back half of 2025 with considerable momentum across our core markets, backed by a promising North American economic outlook as reshoring continues,' Gerstenberg said. 'While tariff uncertainty has impacted some customers in the short-term, we expect the tangible benefits of the recent tax bill and incentives to invest in American manufacturing to drive customer activity over the longer-term. We continue to see healthy overall demand from customers within our ES segment, resulting in a substantial project pipeline. Multiple customers are expected to proceed with remediation projects in the coming quarters, which will further support our disposal and recycling network. We are excited about the continued progress at our new Kimball incinerator, which achieved its Q2 volume target. We look forward to further ramping up the facility with a broader mix of waste streams in the second half of this year. For SKSS, our focus will remain on actively managing our collection rates and cost structure, while advancing value-added initiatives like our Castrol partnership and Group III production.' Battles concluded, 'We anticipate a strong second half of the year for the Company based on numerous tailwinds that should drive both top- and bottom-line improvement from a year ago. With an encouraging market outlook, we are also continuing to execute on our pricing strategies, cost mitigation and operational efficiencies to drive further margin improvement.' In the third quarter of 2025, Clean Harbors expects Adjusted EBITDA to grow 9-12% from the comparable quarter of the prior year. For full-year 2025, Clean Harbors is reiterating the midpoints of its prior guidance and expects: Adjusted EBITDA in the range of $1.16 billion to $1.20 billion, or a midpoint of $1.18 billion, which represents 6% growth year over year. This Adjusted EBITDA range is based on anticipated GAAP net income in the range of $383 million to $419 million. Adjusted free cash flow in the range of $430 million to $490 million, or a midpoint of $460 million, which represents a nearly 30% increase from prior year. This range is based on anticipated net cash from operating activities in the range of $775 million to $865 million. 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. The Company defines Adjusted EBITDA as described in the following reconciliation showing the differences between reported GAAP net income and Adjusted EBITDA (in thousands, except percentages): Adjusted Free Cash Flow Reconciliation Clean Harbors reports adjusted free cash flow, a non-GAAP measure, which it considers to be a measurement of liquidity that provides useful information to investors about its ability to generate cash. The Company defines adjusted free cash flow as net cash from operating activities less additions to property, plant and equipment plus proceeds from sale and disposal of fixed assets. When necessary, the Company adjusts for the cash impact of items derived from non-operating activities. Adjusted free cash flow should not be considered an alternative to net cash from operating activities or other measurements under GAAP. Adjusted free cash flow is not calculated identically by all companies, and therefore the Company's measurement of adjusted free cash flow may not be comparable to similarly titled measures reported by other companies. An itemized reconciliation between reported GAAP net cash from operating activities and adjusted free cash flow is as follows (in thousands): Adjusted EBITDA Guidance Reconciliation An itemized reconciliation between projected GAAP net income and projected Adjusted EBITDA is as follows (in millions): 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 one-time 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. 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 growth strategy. Investors who wish to listen to the webcast and view the accompanying slides should visit the Investor Relations section of the Company's website at The live call also can be accessed by dialing 877.709.8155 or 201.689.8881 prior to the start time. If you are unable to listen to the live conference call, the webcast will be archived on the Company's website. About Clean Harbors Clean Harbors (NYSE: CLH) is North America's leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, manufacturing and refining, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is a leading provider of parts washers and environmental services to commercial, industrial and automotive customers, as well as North America's largest re-refiner and recycler of used oil. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit Safe Harbor Statement Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words 'believes,' 'expects,' 'intends,' 'anticipates,' 'plans to,' 'seeks,' 'will,' 'should,' 'estimates,' 'projects,' 'may,' 'likely,' 'potential,' 'outlook' or similar expressions. Such statements may include, but are not limited to, statements about the Company's future financial and operating results, plans, strategy, objectives and goals, cost management initiatives, pricing and productivity initiatives, contingent liabilities, liquidity, business, economic and market conditions, trends, customer demand, impacts of tariffs and new legislation, acquisitions, growth opportunities, expectations, challenges and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors' management as of the date of this press release only and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, without limitation: operational and safety risks; risks relating to the failure of new or existing technologies; cybersecurity risks; the occurrence of natural disasters or other catastrophic events, as well as their residual macroeconomic effects; risks associated with retaining and hiring key personnel; environmental liability and product liability risks relating to hazardous waste management and other components of the Company's business; negative economic, industry or other developments, including market volatility or economic downturns; risks associated with management's assumptions relating to expansion of the Company's landfills; reductions in the demand for emergency response services at industrial facilities or on roadways, railways or waterways, and other remedial projects and regulatory developments; reductions in the demand for oil products and automotive services and volatility in oil prices in the markets the Company serves; changes in statutory and regulatory requirements and risks relating to extensive environmental laws and regulations; risks associated with existing and potential litigation; risks associated with the Company's identification and execution of strategic acquisitions and divestitures and their related liabilities; risks relating to the availability and sufficiency of the Company's insurance coverage, self-insurance, surety bonds, letters of credit and other forms of financial assurance; the impact of new tax legislation or changes in tax regulations and interpretations; the imposition of trade sanctions or tariffs; fluctuations in interest rates and foreign currency exchange rates; risks relating to the Company's indebtedness and covenants in its debt agreements; risks associated with certain anti-takeover provisions under the Massachusetts Business Corporation Act and the Company's By-Laws, and those items identified as 'Risk Factors' in Clean Harbors' most recently filed reports on Form 10-K and Form 10-Q. Forward-looking statements are neither historical facts nor assurances of future performance. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the 'Investors' section of Clean Harbors' website at CLEAN HARBORS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) December 31, 2024 Current assets: (unaudited) Cash and cash equivalents $ 600,186 $ 687,192 Short-term marketable securities 98,888 102,634 Accounts receivable, net 1,117,714 1,015,357 Unbilled accounts receivable 177,910 162,215 Inventories and supplies 383,351 384,657 Prepaid expenses and other current assets 97,332 81,741 Total current assets 2,475,381 2,433,796 Property, plant and equipment, net 2,507,101 2,447,941 Other assets: Operating lease right-of-use assets 247,033 250,853 Goodwill 1,479,805 1,477,199 Permits and other intangibles, net 677,180 701,987 Other long-term assets 53,429 65,502 Total other assets 2,457,447 2,495,541 Total assets $ 7,439,929 $ 7,377,278 Current liabilities: Current portion of long-term debt $ 15,102 $ 15,102 Accounts payable 432,771 487,286 Deferred revenue 87,792 88,545 Accrued expenses and other current liabilities 376,585 419,445 Current portion of closure, post-closure and remedial liabilities 26,524 20,625 Current portion of operating lease liabilities 72,976 71,663 Total current liabilities 1,011,750 1,102,666 Other liabilities: Closure and post-closure liabilities, less current portion 122,795 119,484 Remedial liabilities, less current portion 86,880 101,424 Long-term debt, less current portion 2,766,530 2,771,117 Operating lease liabilities, less current portion 178,343 182,883 Deferred tax liabilities 359,661 363,623 Other long-term liabilities 199,903 162,552 Total other liabilities 3,714,112 3,701,083 Total stockholders' equity, net 2,714,067 2,573,529 Total liabilities and stockholders' equity $ 7,439,929 $ 7,377,278 Expand CLEAN HARBORS, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Six Months Ended June 30, 2025 June 30, 2024 Cash flows from operating activities: Net income $ 185,585 $ 203,112 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 228,265 195,569 Allowance for doubtful accounts 3,249 4,349 Amortization of deferred financing costs and debt discount 3,352 2,937 Accretion of environmental liabilities 7,211 6,521 Changes in environmental liability estimates (8,954 ) 3,963 Deferred income taxes — (88 ) Other expense, net 1,535 1,308 Stock-based compensation 13,698 14,853 Environmental expenditures (7,051 ) (9,934 ) Changes in assets and liabilities, net of acquisitions: Accounts receivable and unbilled accounts receivable (116,399 ) (116,307 ) Inventories and supplies 2,952 (28,673 ) Other current and long-term assets (13,395 ) (28,870 ) Accounts payable (36,035 ) (12,418 ) Other current and long-term liabilities (54,368 ) (1,728 ) Net cash from operating activities 209,645 234,594 Cash flows used in investing activities: Additions to property, plant and equipment (208,724 ) (273,023 ) Proceeds from sale and disposal of fixed assets 4,063 4,295 Acquisitions, net of cash acquired — (477,201 ) Proceeds from sale of business — 750 Additions to intangible assets including costs to obtain or renew permits (777 ) (1,868 ) Purchases of available-for-sale securities (45,622 ) (55,318 ) Proceeds from sale of available-for-sale securities 50,318 71,695 Net cash used in investing activities (200,742 ) (730,670 ) Cash flows (used in) from financing activities: Change in uncashed checks (2,767 ) (1,868 ) Tax payments related to withholdings on vested restricted stock (10,456 ) (4,599 ) Repurchases of common stock (67,001 ) (10,215 ) Proceeds from employee stock purchase plan 3,360 — Deferred financing costs paid — (8,148 ) Payments on finance leases (16,754 ) (11,491 ) Principal payments on debt (7,551 ) (7,551 ) Proceeds from issuance of debt, net of discount — 499,375 Net cash (used in) from financing activities (101,169 ) 455,503 Effect of exchange rate change on cash 5,260 (2,133 ) Decrease in cash and cash equivalents (87,006 ) (42,706 ) Cash and cash equivalents, beginning of period 687,192 444,698 Cash and cash equivalents, end of period $ 600,186 $ 401,992 Expand Supplemental Segment Data (in thousands) Three Months Ended Revenue June 30, 2025 June 30, 2024 Third-Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Third-Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Environmental Services $ 1,330,059 $ 21,976 $ 1,352,035 $ 1,297,298 $ 12,085 $ 1,309,383 Safety-Kleen Sustainability Solutions 219,706 (21,976 ) 197,730 255,322 (12,085 ) 243,237 Corporate 89 — 89 99 — 99 Total $ 1,549,854 $ — $ 1,549,854 $ 1,552,719 $ — $ 1,552,719 Expand Six Months Ended Revenue June 30, 2025 June 30, 2024 Third-Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Third-Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Environmental Services $ 2,537,097 $ 24,051 $ 2,561,148 $ 2,458,577 $ 23,316 $ 2,481,893 Safety-Kleen Sustainability Solutions 444,521 (24,051 ) 420,470 470,636 (23,316 ) 447,320 Corporate 186 — 186 201 — 201 Total $ 2,981,804 $ — $ 2,981,804 $ 2,929,414 $ — $ 2,929,414 Expand Three Months Ended Six Months Ended Adjusted EBITDA June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Environmental Services $ 376,194 $ 359,915 $ 650,785 $ 624,390 Safety-Kleen Sustainability Solutions 38,313 51,476 66,565 81,176 Total $ 336,237 $ 327,816 $ 571,091 $ 557,911 Expand
Yahoo
14-05-2025
- Business
- Yahoo
CLH Q1 Earnings Call: Clean Harbors Delivers In-Line Revenue and Margin Pressures Amid Segment Shifts
Environmental and industrial services company Clean Harbors (NYSE:CLH) met Wall Street's revenue expectations in Q1 CY2025, with sales up 4% year on year to $1.43 billion. Its non-GAAP profit of $1.09 per share was 3.3% above analysts' consensus estimates. Is now the time to buy CLH? Find out in our full research report (it's free). Revenue: $1.43 billion vs analyst estimates of $1.44 billion (4% year-on-year growth, in line) Adjusted EPS: $1.09 vs analyst estimates of $1.05 (3.3% beat) Adjusted EBITDA: $234.9 million vs analyst estimates of $232.6 million (16.4% margin, 1% beat) EBITDA guidance for the full year is $1.18 billion at the midpoint, in line with analyst expectations Operating Margin: 7.8%, down from 9.1% in the same quarter last year Free Cash Flow was -$115.7 million compared to -$118.4 million in the same quarter last year Organic Revenue rose 2.6% year on year, in line with the same quarter last year Market Capitalization: $12.26 billion Clean Harbors' first quarter results reflected stable demand in its core Environmental Services segment and deliberate pricing strategies in its Safety-Kleen Sustainability Solutions business. Management attributed performance to strong incineration utilization and pricing, ongoing contributions from recent acquisitions, and outperformance in used oil collection, despite weather-related disruptions and continued headwinds in industrial services. Co-CEO Eric Gerstenberg stated, 'Our ES segment began the year with an encouraging first quarter that included a strong contribution in March after a period of unfavorable weather in January.' Looking ahead, Clean Harbors maintained its full-year adjusted EBITDA guidance, emphasizing steady demand in disposal services, continued ramp-up of the Kimball incinerator, and an expanding pipeline in PFAS remediation. Management remains cautious on industrial services but cited reshoring trends, regulatory momentum, and proactive cost controls as factors supporting the outlook. CFO Eric Dugas reiterated, 'We continue to expect demand environment and our pricing initiatives to support our anticipated profitable growth this year.' Management's remarks during the earnings call centered on segment-level drivers, pricing actions, and operational investments that shaped quarterly results. The company addressed weather-related headwinds, segment performance divergence, and updates on capacity expansion and regulatory dynamics. Incineration Utilization and Pricing: Clean Harbors achieved an 88% incineration utilization rate, excluding the new Kimball facility, and implemented mid-single-digit price increases. Management credited this to robust demand, capacity investments, and the successful ramp-up of the Kimball incinerator, which processed 5,000 tons in its first quarter of operation. Safety-Kleen Pricing Shift: In Safety-Kleen Sustainability Solutions (SKSS), the company doubled its average charge for used oil collection since year-end by shifting to a charge-for-oil (CFO) model. This offset continued weakness in base oil prices and helped maintain volumes despite challenging market conditions. PFAS Pipeline Momentum: Management highlighted a growing pipeline for PFAS (per- and polyfluoroalkyl substances) remediation, supported by recent EPA policy updates and ongoing regulatory developments. The company expects its incineration study results, relevant to PFAS disposal, to be published in the coming quarter. Industrial Services Weakness: Revenue in industrial services declined 10% year over year, attributed to refinery customers deferring maintenance and spending. Management noted that while some weather effects were temporary, broader refinery cost pressures persisted. Acquisition and Network Expansion: The HEPACO acquisition and the opening of new field service branches contributed to growth in field services, with 32% growth in this area. The company is also developing new processing hubs, such as the recently acquired Phoenix site, to further expand capacity. Clean Harbors' outlook for the remainder of the year is driven by expected growth in disposal and recycling services, continued ramp-up of new capacity, and evolving regulatory and market trends, with management balancing optimism about secular growth drivers against caution in more cyclical segments. Kimball Incinerator Ramp-Up: The Kimball facility is expected to process over 28,000 tons this year, contributing to higher network utilization and enabling growth in technical services and PFAS disposal. Regulatory Tailwinds and PFAS: Anticipated EPA and Department of Defense guidance on PFAS destruction is expected to boost demand for Clean Harbors' hazardous waste solutions, particularly as environmental standards tighten. Industrial Services Recovery Uncertainty: Management remains cautious on the timing of an industrial services rebound, with recovery hinging on refinery maintenance cycles and broader economic conditions. The segment is expected to lag the rest of the business in the near term. Tyler Brown (Raymond James): Asked about the extent of weather-related volume loss and whether it could be recovered in future quarters; management said some revenue is likely lost forever, though March and April showed improvement. Noah Kaye (Oppenheimer): Inquired about the PFAS remediation pipeline and the impact of new EPA guidance; management expects continued double-digit growth in PFAS-related revenue and views regulatory momentum as a long-term opportunity. James Schumm (TD Cowen): Pressed on base oil pricing weakness and SKSS inventory management; management explained aggressive pricing actions in used oil collection are offsetting lower base oil prices, and inventory costs are lower entering Q2. Larry Solow (CJS Securities): Questioned the resilience of Clean Harbors' business in a potential economic slowdown; management described most segments as 'recession resistant' due to the essential nature of environmental services. Adam Bubes (Goldman Sachs): Asked about organic growth cadence in Environmental Services and the impact of new field service branches; management expects organic growth to accelerate as weather normalizes and new capacity comes online. In the coming quarters, the StockStory team will be monitoring (1) the scaling of the Kimball incinerator and whether it meets or exceeds planned throughput targets, (2) regulatory and customer activity around PFAS remediation following anticipated publication of Clean Harbors' incineration study, and (3) signs of stabilization or recovery in industrial services as refinery maintenance cycles evolve. Expansion of new processing hubs and field services branches will also be tracked as potential drivers of incremental growth. Clean Harbors currently trades at a forward P/E ratio of 28.8×. Is the company at an inflection point that warrants a buy or sell? The answer lies in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Yahoo
27-04-2025
- Business
- Yahoo
Is Now The Time To Put Clean Harbors (NYSE:CLH) On Your Watchlist?
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even companies that have no revenue, no profit, and a record of falling short, can manage to find investors. But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' A loss-making company is yet to prove itself with profit, and eventually the inflow of external capital may dry up. Despite being in the age of tech-stock blue-sky investing, many investors still adopt a more traditional strategy; buying shares in profitable companies like Clean Harbors (NYSE:CLH). While profit isn't the sole metric that should be considered when investing, it's worth recognising businesses that can consistently produce it. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. The market is a voting machine in the short term, but a weighing machine in the long term, so you'd expect share price to follow earnings per share (EPS) outcomes eventually. That makes EPS growth an attractive quality for any company. Shareholders will be happy to know that Clean Harbors' EPS has grown 26% each year, compound, over three years. If growth like this continues on into the future, then shareholders will have plenty to smile about. Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. EBIT margins for Clean Harbors remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 8.9% to US$5.9b. That's a real positive. In the chart below, you can see how the company has grown earnings and revenue, over time. To see the actual numbers, click on the chart. Check out our latest analysis for Clean Harbors Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want to check this interactive graph of professional analyst EPS forecasts for Clean Harbors. Owing to the size of Clean Harbors, we wouldn't expect insiders to hold a significant proportion of the company. But we are reassured by the fact they have invested in the company. Indeed, they have a considerable amount of wealth invested in it, currently valued at US$650m. This suggests that leadership will be very mindful of shareholders' interests when making decisions! It means a lot to see insiders invested in the business, but shareholders may be wondering if remuneration policies are in their best interest. Well, based on the CEO pay, you'd argue that they are indeed. For companies with market capitalisations over US$8.0b, like Clean Harbors, the median CEO pay is around US$14m. Clean Harbors' CEO took home a total compensation package of US$5.3m in the year prior to December 2024. That's clearly well below average, so at a glance that arrangement seems generous to shareholders and points to a modest remuneration culture. While the level of CEO compensation shouldn't be the biggest factor in how the company is viewed, modest remuneration is a positive, because it suggests that the board keeps shareholder interests in mind. It can also be a sign of a culture of integrity, in a broader sense. You can't deny that Clean Harbors has grown its earnings per share at a very impressive rate. That's attractive. If that's not enough, consider also that the CEO pay is quite reasonable, and insiders are well-invested alongside other shareholders. This may only be a fast rundown, but the key takeaway is that Clean Harbors is worth keeping an eye on. However, before you get too excited we've discovered 2 warning signs for Clean Harbors that you should be aware of. While opting for stocks without growing earnings and absent insider buying can yield results, for investors valuing these key metrics, here is a carefully selected list of companies in the US with promising growth potential and insider confidence. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
27-03-2025
- Business
- Yahoo
Those who invested in Clean Harbors (NYSE:CLH) five years ago are up 334%
It hasn't been the best quarter for Clean Harbors, Inc. (NYSE:CLH) shareholders, since the share price has fallen 14% in that time. But over five years returns have been remarkably great. In that time, the share price has soared some 334% higher! So it might be that some shareholders are taking profits after good performance. Of course what matters most is whether the business can improve itself sustainably, thus justifying a higher price. So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. During five years of share price growth, Clean Harbors achieved compound earnings per share (EPS) growth of 34% per year. That makes the EPS growth particularly close to the yearly share price growth of 34%. Therefore one could conclude that sentiment towards the shares hasn't morphed very much. Indeed, it would appear the share price is reacting to the EPS. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). It's good to see that there was some significant insider buying in the last three months. That's a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. This free interactive report on Clean Harbors' earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. Investors in Clean Harbors had a tough year, with a total loss of 0.6%, against a market gain of about 10%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 34%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Clean Harbors is showing 2 warning signs in our investment analysis , you should know about... Clean Harbors is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Associated Press
19-02-2025
- Business
- Associated Press
Clean Harbors Announces Fourth-Quarter and Full-Year 2024 Financial Results
Clean Harbors, Inc. ('Clean Harbors' or the 'Company') (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced financial results for the fourth quarter and year ended December 31, 2024. 'Our fourth-quarter results were in line with our expectations as our Environmental Services (ES) segment capped a record 2024 with a robust performance, including the 11 th consecutive quarter of year-over-year margin growth,' said Mike Battles, Co-Chief Executive Officer. 'The segment benefited from steady demand, strong waste collection volumes, a healthy flow of project work and favorable pricing. For the full year the segment saw 11% top-line growth and annual Adjusted EBITDA margin exceeded 25%. We maintained a strong focus on safety and continuous improvement in the quarter, which contributed to a Total Recordable Incident Rate (TRIR) that enabled us to surpass our 2024 goal.' Fourth-Quarter 2024 Results Revenues grew 7% to $1.43 billion, compared with $1.34 billion in the same period of 2023. Income from operations was $137.0 million, compared with $147.3 million in the fourth quarter of 2023. Net income was $84.0 million, or $1.55 per diluted share, compared with $98.3 million, or $1.81 per diluted share, for the same period in 2023. Adjusted EBITDA (see description and reconciliation below) was $257.2 million, compared with $254.9 million in the same period of 2023. Q4 2024 Segment Review 'Our ES segment achieved a 9% growth in revenue and 11% growth in Adjusted EBITDA,' said Eric Gerstenberg, Co-Chief Executive Officer. 'Our Adjusted EBITDA margin in the segment increased by 50 basis points. Top-line growth in the segment was again led by our Field Services operations. Field Services revenue increased 47% from the prior-year period, reflecting the HEPACO acquisition and healthy organic growth in our legacy business. Technical Services revenue grew 8% on strength in our network. Incineration utilization was an outstanding 94% for the quarter, up from 85% in the same period a year ago. Safety-Kleen Environmental Services delivered 6% revenue growth in the ES segment.' 'Results in our Safety-Kleen Sustainability Solutions (SKSS) segment reflected ongoing challenges in the U.S. base oil and lubricants market, as revenues declined 5% and profitability was down from the same period in 2023,' said Battles. 'In response to the weakening market conditions and pricing pressure, we took aggressive action in mid-November by shifting customers to a charge-for-oil (CFO) position. These actions, along with cost-cutting initiatives, were designed to help offset the weaker pricing conditions that have persisted.' 2024 Financial Results Revenues for 2024 increased 9% to $5.89 billion, compared with $5.41 billion in 2023. Income from operations increased 9% to $670.2 million, compared with $612.4 million in 2023. Net income was $402.3 million, or $7.42 per diluted share, compared with net income of $377.9 million, or $6.95 per diluted share for 2023. (See reconciliation table below). Adjusted EBITDA (see description below) grew 10% to $1.12 billion from $1.01 billion in 2023. The Company generated adjusted free cash flow (see description and reconciliation below) of $357.9 million in 2024, compared with $321.9 million in 2023. The increase is attributable to greater earnings and some improvements in working capital management which offset higher net capital expenditures. '2024 was another exceptional year for the Company, particularly in our ES segment where we saw the continuation of a multi-year profitable growth trend and record financial performance,' Gerstenberg said. 'Adjusted EBITDA margin in the ES segment expanded by 90 basis points to 25.3% on the strength of 11% revenue growth combined with a 15% increase in Adjusted EBITDA. Beyond our financial performance, we achieved significant operational milestones in 2024, including: Achievement of a TRIR of 0.65, Completion and commercial launch of our Kimball, Nebraska incinerator, Acquisitions of HEPACO and Noble Oil, Workforce growth and improved retention by lowering turnover by 250 basis points, Introduction of our Total PFAS Solution, Expansion of our Baltimore Hub, Partnership with Castrol for its MoreCircular offering, and More than 20,000 emergency response events. These developments illustrate our strategic execution and underscore our commitment to safety, growth, operational efficiency and market responsiveness.' Business Outlook and Financial Guidance 'We expect a year of profitable growth in 2025, led by our ES segment,' Gerstenberg said. 'A healthy backlog of waste streams across our disposal and recycling network is supported by favorable underlying trends expected in U.S. manufacturing, infrastructure spending and regulations, particularly as it relates to PFAS. We also continue to see a robust pipeline of remediation and waste projects as we move into the year. The commercial ramp up of our Nebraska incinerator is underway and our network is currently operating at a high level, efficiently and safely moving waste and utilizing all disposal assets. Our outlook for Field Services is decidedly positive given the early returns on the HEPACO transaction and the anticipated need for our comprehensive ER capabilities. We anticipate a return to growth in our Industrial Services business this year after a slower 2024, while SK Environmental Services should continue to drive record waste volumes into our network. 'Within SKSS, our focus will remain on actively managing our cost structure, particularly waste oil collection costs. In terms of growth strategies, we are directing our energies into areas such as our Castrol partnership, Group III production, blended sales and opportunities to capitalize on the sustainable products we offer.' Battles concluded, 'Overall, we believe we have the ideal strategies in place to deliver a great financial performance in 2025. In addition to increasing Adjusted EBITDA and adjusted free cash flow, we anticipate continued Adjusted EBITDA margin improvement based on our pricing, cost reduction and productivity initiatives.' In the first quarter of 2025, Clean Harbors expects Adjusted EBITDA to grow 4%-6% year-over-year in its ES segment and be flat on a consolidated basis. For full-year 2025, Clean Harbors expects: Adjusted EBITDA in the range of $1.15 billion to $1.21 billion, or a midpoint of $1.18 billion, which represents 6% growth year-over-year. This Adjusted EBITDA range is based on anticipated GAAP net income in the range of $376 million to $427 million. Adjusted free cash flow in the range of $430 million to $490 million, or a midpoint of $460 million. This range is based on anticipated net cash from operating activities in the range of $775 million to $865 million. 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. The Company defines Adjusted EBITDA as described in the following reconciliation showing the differences between reported net income and Adjusted EBITDA for the three and twelve months ended December 31, 2024 and 2023 (in thousands, except percentages): For the Three Months Ended For the Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income $ 83,974 $ 98,349 $ 402,299 $ 377,856 Accretion of environmental liabilities 3,317 3,386 13,456 13,667 Stock-based compensation 7,291 5,894 27,981 20,703 Depreciation and amortization 105,290 98,336 400,922 365,761 Kimball startup costs 4,343 — 4,343 — Other (income) expense, net (977 ) (3,148 ) 1,454 (2,315 ) Loss on early extinguishment of debt 371 518 371 2,880 Interest expense, net of interest income 34,197 28,195 134,964 108,595 Provision for income taxes 19,403 23,379 131,144 125,423 Adjusted EBITDA $ 257,209 $ 254,909 $ 1,116,934 $ 1,012,570 Adjusted EBITDA Margin 18.0 % 19.0 % 19.0 % 18.7 % Adjusted Free Cash Flow Reconciliation Clean Harbors reports adjusted free cash flow, a non-GAAP measure, which it considers to be a measurement of liquidity that provides useful information to investors about its ability to generate cash. The Company defines adjusted free cash flow as net cash from operating activities less additions to property, plant and equipment plus proceeds from sale and disposal of fixed assets. When necessary, the Company adjusts for the cash impact of items derived from non-operating activities. Adjusted free cash flow should not be considered an alternative to net cash from operating activities or other measurements under GAAP. Adjusted free cash flow is not calculated identically by all companies, and therefore the Company's measurement of adjusted free cash flow may not be comparable to similarly titled measures reported by other companies. An itemized reconciliation between net cash from operating activities and adjusted free cash flow is as follows for the three and twelve months ended December 31, 2024 and 2023 (in thousands): For the Three Months Ended For the Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Adjusted free cash flow Net cash from operating activities $ 303,938 $ 278,860 $ 777,771 $ 734,552 Additions to property, plant and equipment (62,415 ) (110,394 ) (432,241 ) (422,300 ) Proceeds from sale and disposal of fixed assets 2,746 4,521 9,099 9,650 Kimball startup costs 3,253 — 3,253 — 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, 2025 Projected GAAP net income $376 to $427 Adjustments: Accretion of environmental liabilities 15 to 14 Stock-based compensation 28 to 31 Depreciation and amortization 450 to 440 Interest expense, net 146 to 141 Provision for income taxes 135 to 157 Projected Adjusted EBITDA $1,150 to $1,210 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). Starting in 2025, the Company is excluding significant one-time 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. 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 growth strategy. Investors who wish to listen to the webcast and view the accompanying slides should visit the Investor Relations section of the Company's website at The live call also can be accessed by dialing 877.709.8155 or 201.689.8881 prior to the start time. If you are unable to listen to the live conference call, the webcast will be archived on the Company's website. About Clean Harbors Clean Harbors (NYSE: CLH) is North America's leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, manufacturing and refining, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is a leading provider of parts washers and environmental services to commercial, industrial and automotive customers, as well as North America's largest re-refiner and recycler of used oil. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit Safe Harbor Statement Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words 'believes,' 'expects,' 'intends,' 'anticipates,' 'plans to,' 'seeks,' 'will,' 'should,' 'estimates,' 'projects,' 'may,' 'likely,' 'potential,' 'outlook' or similar expressions. Such statements may include, but are not limited to, statements about the Company's future financial and operating results, plans, strategy, objectives and goals, cost management initiatives, pricing and productivity initiatives, contingent liabilities, liquidity, business and market conditions, trends, customer demand, acquisitions, growth opportunities, expectations, challenges and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors' management as of the date of this press release only and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, without limitation, those items identified as 'Risk Factors' in Clean Harbors' most recently filed reports on Form 10-K and Form 10-Q. Forward-looking statements are neither historical facts nor assurances of future performance. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the 'Investors' section of Clean Harbors' website at CLEAN HARBORS, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) For the Three Months Ended For the Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Revenues $ 1,431,116 $ 1,338,169 $ 5,889,952 $ 5,409,152 Cost of revenues: 1,003,502 923,147 4,065,713 3,746,124 Selling, general and administrative expenses 182,039 166,007 739,629 671,161 Accretion of environmental liabilities 3,317 3,386 13,456 13,667 Depreciation and amortization 105,290 98,336 400,922 365,761 Income from operations 136,968 147,293 670,232 612,439 Other income (expense), net 977 3,148 (1,454 ) 2,315 Loss on early extinguishment of debt (371 ) (518 ) (371 ) (2,880 ) Interest expense, net (34,197 ) (28,195 ) (134,964 ) (108,595 ) Income before provision for income taxes 103,377 121,728 533,443 503,279 Provision for income taxes 19,403 23,379 131,144 125,423 Net income $ 83,974 $ 98,349 $ 402,299 $ 377,856 Earnings per share: Basic $ 1.56 $ 1.82 $ 7.46 $ 6.99 Diluted $ 1.55 $ 1.81 $ 7.42 $ 6.95 Shares used to compute earnings per share - Basic 53,857 53,995 53,902 54,071 Shares used to compute earnings per share - Diluted 54,168 54,259 54,199 54,382 CLEAN HARBORS, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) December 31, 2024 December 31, 2023 Current assets: Cash and cash equivalents $ 687,192 $ 444,698 Short-term marketable securities 102,634 106,101 Accounts receivable, net 1,015,357 983,111 Unbilled accounts receivable 162,215 107,859 Inventories and supplies 384,657 327,511 Prepaid expenses and other current assets 81,741 82,939 Total current assets 2,433,796 2,052,219 Property, plant and equipment, net 2,447,941 2,193,318 Other assets: Operating lease right-of-use assets 250,853 187,060 Goodwill 1,477,199 1,287,736 Permits and other intangibles, net 701,987 602,797 Other long-term assets 65,502 59,739 Total other assets 2,495,541 2,137,332 Total assets $ 7,377,278 $ 6,382,869 Current liabilities: Current portion of long-term debt $ 15,102 $ 10,000 Accounts payable 487,286 451,806 Deferred revenue 88,545 95,230 Accrued expenses and other current liabilities 419,445 397,157 Current portion of closure, post-closure and remedial liabilities 20,625 26,914 Current portion of operating lease liabilities 71,663 56,430 Total current liabilities 1,102,666 1,037,537 Other liabilities: Closure and post-closure liabilities, less current portion 119,484 105,044 Remedial liabilities, less current portion 101,424 97,885 Long-term debt, less current portion 2,771,117 2,291,717 Operating lease liabilities, less current portion 182,883 131,743 Deferred tax liabilities 363,623 353,107 Other long-term liabilities 162,552 118,330 Total other liabilities 3,701,083 3,097,826 Total stockholders' equity, net 2,573,529 2,247,506 Total liabilities and stockholders' equity $ 7,377,278 $ 6,382,869 CLEAN HARBORS, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) For the Year Ended December 31, 2024 December 31, 2023 Cash flows from operating activities: Net income $ 402,299 $ 377,856 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 400,922 365,761 Allowance for doubtful accounts 8,129 5,956 Amortization of deferred financing costs and debt discount 6,321 5,309 Accretion of environmental liabilities 13,456 13,667 Changes in environmental liability estimates 4,139 4,828 Deferred income taxes 18,437 12,685 Other expense (income), net 1,454 (2,315 ) Stock-based compensation 27,981 20,703 Loss on early extinguishment of debt 371 2,880 Environmental expenditures (27,522 ) (28,960 ) Changes in assets and liabilities, net of acquisitions: Accounts receivable and unbilled accounts receivable (28,822 ) 2,453 Inventories and supplies (49,588 ) (4,312 ) Other current and non-current assets (57,220 ) (22,645 ) Accounts payable 12,327 (27,425 ) Other current and long-term liabilities 45,087 8,111 Net cash from operating activities 777,771 734,552 Cash flows used in investing activities: Additions to property, plant and equipment (432,241 ) (422,300 ) Proceeds from sale and disposal of fixed assets 9,099 9,650 Acquisitions, net of cash acquired (478,011 ) (119,596 ) Proceeds from sale of business, net of transaction costs 750 750 Additions to intangible assets including costs to obtain or renew permits (9,607 ) (2,649 ) Purchases of available-for-sale securities (117,861 ) (158,264 ) Proceeds from sale of available-for-sale securities 124,197 117,359 Net cash used in investing activities (903,674 ) (575,050 ) Cash flows from (used in) financing activities: Change in uncashed checks (1,473 ) 2,759 Tax payments related to withholdings on vested restricted stock (13,759 ) (13,838 ) Repurchases of common stock (55,178 ) (51,164 ) Deferred financing costs paid (8,954 ) (6,736 ) Payments on finance leases (30,886 ) (15,937 ) Proceeds from employee stock purchase plan 3,009 — Principal payments on debt (15,102 ) (623,975 ) Proceeds from issuance of debt, net of discount 499,375 500,000 Borrowing from revolving credit facility — 114,000 Payment on revolving credit facility — (114,000 ) Net cash from (used in) financing activities 377,032 (208,891 ) Effect of exchange rate change on cash (8,635 ) 1,484 Increase (decrease) in cash and cash equivalents 242,494 (47,905 ) Cash and cash equivalents, beginning of year 444,698 492,603 Cash and cash equivalents, end of year $ 687,192 $ 444,698 Supplemental information: Cash payments for interest and income taxes: Interest paid $ 153,059 $ 114,560 Income taxes paid, net of refunds 130,606 132,314 Non-cash investing activities: Property, plant and equipment accrued 43,750 52,376 Supplemental Segment Data (in thousands) For the Three Months Ended Revenue December 31, 2024 December 31, 2023 Third Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Third Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Environmental Services $ 1,214,098 $ 11,569 $ 1,225,667 $ 1,112,166 $ 10,136 $ 1,122,302 Safety-Kleen Sustainability Solutions 216,908 (11,569 ) 205,339 225,891 (10,136 ) 215,755 Corporate Items 110 — 110 112 — 112 Total $ 1,431,116 $ — $ 1,431,116 $ 1,338,169 $ — $ 1,338,169 For the Twelve Months Ended Revenue December 31, 2024 December 31, 2023 Third Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Third Party Revenues Intersegment Revenues (Expenses), net Direct Revenues Environmental Services $ 4,960,325 $ 44,422 $ 5,004,747 $ 4,469,909 $ 41,533 $ 4,511,442 Safety-Kleen Sustainability Solutions 929,220 (44,422 ) 884,798 938,796 (41,533 ) 897,263 Corporate Items 407 — 407 447 — 447 Total $ 5,889,952 $ — $ 5,889,952 $ 5,409,152 $ — $ 5,409,152 For the Three Months Ended For the Twelve Months Ended Adjusted EBITDA December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Environmental Services $ 310,570 $ 278,659 $ 1,267,462 $ 1,101,608 Safety-Kleen Sustainability Solutions 24,604 46,849 147,006 172,873 Corporate Items (77,965 ) (70,599 ) (297,534 ) (261,911 ) Total $ 257,209 $ 254,909 $ 1,116,934 $ 1,012,570 View source version on CONTACT: Eric J. Dugas EVP and Chief Financial Officer Clean Harbors, Inc. 781.792.5100 [email protected] Buckley SVP Investor Relations Clean Harbors, Inc. 781.792.5100 [email protected] KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS SOURCE: Clean Harbors, Inc. Copyright Business Wire 2025. PUB: 02/19/2025 07:30 AM/DISC: 02/19/2025 07:30 AM
