Core Insights - Clean Harbors reported mixed Q2 2025 results, with earnings per share of $2.36 beating estimates but revenues of $1.5 billion missing expectations [2][3] - The company's stock has increased by approximately 3.3% since the last earnings report, outperforming the S&P 500 [1] Financial Performance - Q2 2025 earnings of $2.36 per share exceeded the Zacks Consensus Estimate by 1.3% but decreased by 4.1% year-over-year [2] - Total revenues of $1.5 billion fell short of estimates by 2% and showed a slight year-over-year decline [2] - Environmental Services segment revenues reached $1.3 billion, a 2.5% increase from the previous year, driven by the HEPACO acquisition and higher pricing [3] - Safety-Kleen Sustainability Solutions revenues were $219.7 million, down 13.9% year-over-year due to lower base oil prices [3] - Adjusted EBITDA was $336.2 million, a 2.6% increase from the previous year, with a margin of 21.7% [4] - The adjusted EBITDA for Environmental Services was $376.2 million, up 4.5% year-over-year, while Safety-Kleen's adjusted EBITDA fell 25.6% to $38.3 million [4] Balance Sheet & Cash Flow - Clean Harbors ended the quarter with cash and cash equivalents of $600.2 million, up from $489.4 million in the previous quarter [5] - Long-term debt remained stable at $2.8 billion, with net cash from operating activities of $208 million and capital expenditures of $90 million [6] Guidance - For 2025, Clean Harbors updated its adjusted EBITDA guidance to $1.16-$1.20 billion and expects adjusted free cash flow of $430-$490 million [7] Market Sentiment - Since the earnings release, there has been an upward trend in estimates for Clean Harbors [8] - The company holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [10] Industry Comparison - Clean Harbors operates within the Zacks Waste Removal Services industry, where competitor Republic Services reported revenues of $4.24 billion, a year-over-year increase of 4.6% [11] - Republic Services has a Zacks Rank 4 (Sell) and is expected to post a slight decline in earnings for the current quarter [12]

Core Insights - Clean Harbors, Inc. (CLH) reported mixed second-quarter 2025 results, with earnings exceeding the Zacks Consensus Estimate but revenues falling short [1][8] - The stock price remained relatively stable despite the earnings beat, indicating limited market reaction [1][8] Financial Performance - CLH's earnings per share (EPS) were $2.36, surpassing the Zacks Consensus Estimate by 1.3% but down 4.1% year-over-year [2][8] - Total revenues reached $1.5 billion, missing the consensus estimate by 2% and showing a slight year-over-year decline [2][8] Segment Analysis - Environmental Services (ES) revenues were $1.3 billion, reflecting a 2.5% increase from the previous year, driven by the HEPACO acquisition and higher pricing [3] - Safety-Kleen Sustainability Solutions (SKSS) revenues totaled $219.7 million, a decline of 13.9% year-over-year, attributed to lower base oil prices due to weak demand [3] Profitability Metrics - Adjusted EBITDA was $336.2 million, a 2.6% increase from the prior year, exceeding estimates [4] - The adjusted EBITDA margin improved to 21.7%, up 60 basis points year-over-year [4] - Segment-wise, adjusted EBITDA for ES was $376.2 million, a 4.5% year-over-year increase, while SKSS saw a 25.6% decline to $38.3 million [4] Balance Sheet and Cash Flow - At the end of the quarter, CLH had cash and cash equivalents of $600.2 million, up from $489.4 million in the previous quarter [5] - Long-term debt remained stable at $2.8 billion, with net cash from operating activities at $208 million and capital expenditures of $90 million [6] 2025 Guidance - For 2025, CLH updated its adjusted EBITDA guidance to a range of $1.16-$1.20 billion, while adjusted free cash flow is expected to be between $430-$490 million [7]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2025 (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) (IRS Employer Identification No.) 42 Longwater Drive Norwell MA 02061-9149 (Address of Principal Executive Offices) (Zip Code) Massachu ...

For the quarter ended June 2025, Clean Harbors (CLH) reported revenue of $1.55 billion, down 0.2% over the same period last year. EPS came in at $2.36, compared to $2.46 in the year-ago quarter.The reported revenue represents a surprise of -2.04% over the Zacks Consensus Estimate of $1.58 billion. With the consensus EPS estimate being $2.33, the EPS surprise was +1.29%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Clean Harbors (CLH) Q2 2025 Earnings Call July 30, 2025 09:00 AM ET Company ParticipantsMichael McDonald - SVP - General CounselEric Gerstenberg - Co-CEO & Co-PresidentMichael Battles - Co-CEO & Co-PresidentEric Dugas - Executive VP & CFOTyler Brown - AVPTobey Sommer - Managing DirectorConference Call ParticipantsDavid Manthey - Senior Research AnalystLarry Solow - Partner & Managing director - Equity AnalystJames Ricchiuti - Senior AnalystNoah Kaye - Senior Research AnalystJames Schumm - Senior AnalystOper ...

Financial Data and Key Metrics Changes - The company achieved a consolidated adjusted EBITDA margin of 21.7%, an increase of 60 basis points year-over-year, driven by strong demand for disposal and recycling assets and lower SG&A costs [5][24]. - Q2 adjusted EBITDA was $336 million, reflecting higher earnings in the Environmental Services segment and improved corporate costs, offsetting lower contributions from Safety Kleen Sustainable Solutions (SKSS) [24][30]. - Total company revenue was essentially flat compared to 2024, with growth in Environmental Services offsetting the decline in SKSS [23]. Business Line Data and Key Metrics Changes - Environmental Services (ES) segment adjusted EBITDA margin grew year-over-year for the thirteenth consecutive quarter, driven by increased volumes, pricing, and efficiency gains [6][7]. - Safety Kleen Environmental led growth at 9%, driven by pricing gains and growth in core service offerings, despite a slight decline in parts wash services [7][8]. - Technical Services saw a 4% revenue increase supported by higher incineration and landfill volumes, with incineration prices rising 7% on a mix-adjusted basis [9]. Market Data and Key Metrics Changes - The company reported strong demand for incineration services, with utilization rates at 89%, up from 88% a year ago, excluding new facilities [9][10]. - The threat of PFAS litigation is creating urgency at various government levels to address contamination, positioning the company to lead in PFAS remediation solutions [12][13]. - The reshoring trend and planned industrial investments in the U.S. are expected to drive greater customer activity and demand for services [20][21]. Company Strategy and Development Direction - The company is focused on executing a capital allocation strategy aimed at generating long-term returns, with plans for both organic investments and strategic M&A opportunities [17][19]. - The company is enhancing its operational efficiencies and pricing strategies to drive further margin improvement, with a goal of achieving record top-line and bottom-line results in 2025 [21][30]. - The company is actively evaluating opportunities for acquisitions that align with its market position and can unlock long-term value [18][79]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand environment, noting that customer activity remains strong despite near-term trade headwinds [20][31]. - The company anticipates continued growth in the second half of the year, supported by a robust project pipeline and favorable macroeconomic conditions [29][31]. - Management highlighted that the worst of maintenance deferrals from industrial services customers appears to be behind them, indicating potential for increased activity [11][58]. Other Important Information - The company reported cash and short-term marketable securities of nearly $700 million, with a net debt to EBITDA ratio of approximately 2x [26]. - Adjusted free cash flow reached a record $133 million in Q2, up nearly $50 million from the prior year [27]. - The company expects full-year adjusted EBITDA guidance to be in the range of $1.16 billion to $1.2 billion, representing a year-over-year growth of 6% [29]. Q&A Session Summary Question: Broad view on the macro environment and market share - Management noted strong volumes and a robust sales pipeline, indicating potential market share gains despite a slow industrial macro [38][40]. Question: Confidence in SKSS guidance and refinery turnarounds - Management clarified that the back half of the year does not heavily depend on a significant ramp in industrial services turnarounds, focusing instead on servicing high-margin customers [45][46]. Question: Impact of bonus depreciation on investments - Management expects incremental cash tax savings from recent tax changes, which may drive further investment in the U.S. manufacturing sector [47][48]. Question: Outlook for SKSS and Environmental Services pricing - Management indicated that lower cost inventory will support profitability in SKSS, with a disciplined pricing improvement plan in place for Environmental Services [106][110]. Question: Update on PFAS remediation efforts - Management confirmed successful PFAS incineration study results and anticipates further regulatory guidance from the EPA [67][70].

Group 1: Earnings Performance - Clean Harbors reported quarterly earnings of $2.36 per share, exceeding the Zacks Consensus Estimate of $2.33 per share, but down from $2.46 per share a year ago, representing an earnings surprise of +1.29% [1] - The company posted revenues of $1.55 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 2.04%, with year-ago revenues also at $1.55 billion [2] - Over the last four quarters, Clean Harbors has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Clean Harbors shares have increased by approximately 3.5% since the beginning of the year, compared to the S&P 500's gain of 8.3% [3] - The company's earnings outlook will be crucial for future stock movements, with current consensus EPS estimates at $2.31 for the coming quarter and $7.44 for the current fiscal year [4][7] - The estimate revisions trend for Clean Harbors was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Group 3: Industry Context - The Waste Removal Services industry, to which Clean Harbors belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]

© 2025 CLEAN HARBORS – CONFIDENTIAL Forward Looking Statements and GAAP Disclaimer These slides contain (and the accompanying oral discussion will contain) forward-looking statements, which 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 financi ...

Press Release EXHIBIT 99.1 Clean Harbors Announces Second-Quarter 2025 Financial Results NORWELL, Mass. – July 30, 2025 – 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 ...

Group 1 - Clean Harbors (NYSE: CLH) has seen a significant stock increase since March, aligning with the bullish thesis presented earlier this year [1] - The company is focused on sectors such as technology, infrastructure, and internet services, emphasizing strong fundamentals and growth potential [1] - The analyst aims to provide value to readers and investors interested in long-term investing strategies [1] Group 2 - The article does not contain any stock positions or plans to initiate positions in the mentioned companies [2] - The opinions expressed in the article are solely those of the author and do not reflect the views of Seeking Alpha as a whole [3]