Clean Harbors(CLH) - 2025 Q1 - Quarterly Results

Financial Performance - Revenues grew 4% to $1.43 billion in Q1 2025, compared to $1.38 billion in Q1 2024[4] - Net income for Q1 2025 was $58.7 million, or $1.09 per diluted share, down from $69.8 million, or $1.29 per diluted share in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $234.9 million, slightly up from $230.1 million in the same period of 2024[5] - Revenues for the three months ended March 31, 2025, increased to $1,431,950, compared to $1,376,695 for the same period in 2024, representing a growth of approximately 4%[23] - Net income decreased to $58,680 for Q1 2025, down from $69,832 in Q1 2024, reflecting a decline of about 16%[23] - Basic and diluted earnings per share for Q1 2025 were both $1.09, compared to $1.29 in Q1 2024, indicating a decrease of approximately 15.5%[23] Segment Performance - The Environmental Services segment achieved 4% growth in Adjusted EBITDA and 3% growth in revenue, driven by a 32% increase in Field Services operations[6] - Safety-Kleen Sustainability Solutions segment revenues increased 9% due to higher volumes sold and cost-cutting efforts[8] - Adjusted EBITDA for the Environmental Services segment increased to $274,591 in Q1 2025, compared to $264,475 in Q1 2024, showing an increase of about 3%[29] - The Environmental Services segment generated revenues of $1,209,113 in Q1 2025, up from $1,172,510 in Q1 2024, reflecting an increase of about 3%[29] Cash Flow and Assets - Adjusted free cash flow is projected to be between $430 million and $490 million, indicating a nearly 30% increase from the prior year[9] - The company reported cash flows from operating activities of $1,605 for Q1 2025, down from $18,549 in Q1 2024, a decline of approximately 91%[27] - Total current assets decreased to $2,310,682 as of March 31, 2025, from $2,433,796 at the end of 2024, a decline of about 5%[25] - Cash and cash equivalents decreased significantly to $489,417 from $687,192, representing a drop of approximately 29%[27] - Total liabilities decreased slightly to $4,675,163 as of March 31, 2025, from $4,674,612 at the end of 2024, indicating a marginal reduction[25] Future Guidance - For full-year 2025, Clean Harbors expects Adjusted EBITDA in the range of $1.15 billion to $1.21 billion, representing 6% growth year over year[9] - Clean Harbors is maintaining its Adjusted EBITDA and adjusted free cash flow guidance despite uncertainties in U.S. trade policies[9] - The company plans to focus on managing collection costs and advancing initiatives like the Castrol partnership and Group III production in the SKSS segment[9] Other Financial Metrics - The company incurred interest expense of $36,077 in Q1 2025, compared to $28,539 in Q1 2024, representing an increase of approximately 26%[23] - The company reported an impressive incineration utilization rate of 88% in Q1 2025, up from 79% in the prior year[8]