Core Insights - Clean Harbors reported record financial and safety performance for 2025, with significant growth in revenue and adjusted EBITDA, alongside a strong safety record [4][6][3] Financial Performance - Clean Harbors achieved over $6 billion in annual revenue for the first time, with adjusted EBITDA increasing by 5% year-over-year, driven primarily by Environmental Services [2][6] - The adjusted EBITDA margin improved by 40 basis points year-over-year, reaching a consolidated Q4 adjusted EBITDA margin of 18.6% [2][16] - Operating cash flow in Q4 grew by 17% to a record $355 million, while adjusted free cash flow also reached a record $261 million for the quarter [17] Safety Performance - The company achieved a total recordable incident rate (TRIR) of 0.49 in 2025, which is considered industry-leading and significantly lower than the previous year [3][6] Operational Milestones - Key operational milestones for 2025 included the ramp-up of the new Kimball Incinerator, the creation of the Phoenix Hub, and handling nearly 22,000 emergency response events [1][4] Capital Allocation and Guidance - Clean Harbors plans to acquire DCI environmental businesses for approximately $130 million and expand its vacuum truck fleet by $50 million [5][14] - For 2026, the company guided adjusted EBITDA between $1.20 billion and $1.26 billion, implying about 5% growth, and adjusted free cash flow between $480 million and $540 million [5][18] Segment Performance - Environmental Services revenue increased by 6% in Q4, attributed to demand for disposal and recycling services, project volumes, and emergency response work [6][10] - Safety-Kleen Environmental Services revenue rose by 7%, driven by pricing and higher volumes, particularly in vacuum services [10] PFAS Growth Opportunity - The company anticipates considerable momentum in PFAS services, with a projected revenue growth of 20% for 2026, supported by a recent incineration study with the EPA [8][9]

Group 1 - The announcement from the China Certification and Accreditation Administration (CNCA) clarifies the compliance assessment standards and testing methods for harmful substances in electrical and electronic products under the RoHS directive, providing clear guidance for enterprises [1][2][3] - The compliance assessment activities must follow GB/T 26572-2011 or its amendments until December 31, 2025, and transition to GB 26572-2025 starting August 1, 2027 [2][3] - The new RoHS compliance management directory includes 33 products, consolidating the first batch from 12 to 10 and adding 23 new products, effective from the announcement date [5][6] Group 2 - The international standard IEC PAS 63595:2025 for industrial 5G, co-developed by China and Germany, has been officially released, filling a gap in international standards for industrial 5G applications [4] - The standard provides a unified technical specification for deploying and applying 5G technology in industrial environments, covering the entire lifecycle from planning to optimization [4] Group 3 - The international standard IEC 60068-3-14:2025 for climate environment testing has been published, marking the first standard in this field led by China, providing a unified guideline for climate environment testing sequences [8][9] - The standard aims to ensure product quality and reliability through scientifically defined testing sequences, addressing the growing diversity of applications for electrical and electronic products [9] Group 4 - The new national standard for the use of recycled materials in household appliances (GB/T 46730-2025) has been approved and will take effect on May 1, 2026, promoting green and low-carbon development in the industry [11] - The standard emphasizes the selection of recycled materials that meet performance and environmental requirements, establishing a quality control and traceability mechanism throughout the supply chain [11] Group 5 - The draft standard for energy efficiency of crystalline silicon photovoltaic modules and inverters has been submitted for public consultation, with feedback due by December 26, 2025 [12] - This standard outlines energy efficiency levels and testing methods for photovoltaic components, including various types of grid-connected inverters [12]

2025 Third Quarter Earnings (unaudited) Bill Brown Anurag Maheshwari Chief Financial Officer Throughout this presentation, "earnings per share" or "EPS" references are based on 3M EPS from continuing operations. This presentation refers to certain non-GAAP financial measures. Refer to 3M's October 21, 2025, press release for descriptions of non-GAAP financial measures such as adjusted net sales (and adjusted sales change); adjusted purchases of property, plant and equipment (also referred to as adjusted cap ...

Core Viewpoint - The article highlights the detection of PFAS contamination in Swedish crayfish, raising public health concerns, especially as consumption increases in China [1][3]. Group 1: PFAS Contamination in Swedish Crayfish - Recent tests show that eight different brands of frozen and fresh crayfish sold in Swedish stores contain PFAS, indicating higher environmental pollution levels compared to other habitats [3]. - The PFAS levels in Swedish crayfish have reached concerning levels, with the European Food Safety Authority recommending that adults limit their consumption to 3-6 crayfish per week for safety [3]. Group 2: PFAS in Chinese Crayfish - A study conducted by a team from Sun Yat-sen University in five major crayfish farming provinces in China found widespread PFAS contamination in edible parts of crayfish, particularly in the hepatopancreas [4]. - The research indicates potential health risks associated with PFHxS when consuming crayfish, especially from the hepatopancreas, suggesting that consumers should avoid this part [4]. Group 3: Understanding PFAS - PFAS are persistent, bioaccumulative, and toxic substances that pose long-term environmental and health risks, classified as "forever chemicals" due to their resistance to degradation [5][7]. - PFAS can accumulate in living organisms and are linked to various health issues, including thyroid disease, liver damage, immune system impairment, and cancer [8].

Core Viewpoint - The article discusses concerns regarding PFAS (per- and polyfluoroalkyl substances) found in GORE-TEX materials used in outdoor clothing, particularly highlighting that the fear surrounding these substances may be exaggerated and not directly linked to health risks from wearing such clothing [11][14]. Group 1: PFAS and Its Implications - PFAS is a class of chemicals that are stable and difficult to break down, often referred to as "forever chemicals" due to their persistence in the environment [14]. - These substances are commonly found in various household items, including non-stick cookware, food packaging, and even in drinking water, indicating that exposure is widespread and not limited to specific products [15]. - The article humorously suggests that the likelihood of PFAS entering the body through wearing GORE-TEX clothing is minimal, as significant exposure would require unusual behavior, such as ingesting clothing [11]. Group 2: Industry Response and Trends - The company producing GORE-TEX is reportedly developing new materials that do not contain PFAS, indicating a shift towards more sustainable and health-conscious manufacturing practices [17]. - The recent media attention on PFAS may be linked to the company's transition to PFAS-free materials, suggesting that the timing of the news could be strategic [15].