Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 114

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeSG&A expenses$94,580$95,137$(557)(0.6)%As a % of Direct revenues7.8 %8.1 %(0.3)%

Environmental Services SG&A expenses for the three months ended March 31, 2025 remained relatively consistent with the comparable period in 2024, both in dollar amount and as a percentage of revenues. The current quarter results include the impact of reducing estimated costs to remediate a site by approximately $10 million to reflect our conclusion that a loss was no longer probable based on recent evaluation of available evidence. This benefit was partially offset by higher labor and benefits related costs of $7.9 

24

million as a result of the HEPACO acquisition and other investments in our employees.

Safety-Kleen Sustainability Solutions

Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeSG&A expenses$17,050$19,496$(2,446)(12.5)%As a % of Direct revenues7.7 %9.6 %(1.9)%

For the three months ended March 31, 2025, SKSS SG&A expenses decreased $2.4 million and, as a percentage of revenues, decreased 1.9% when compared to the same period in the prior year. Labor and benefit related costs decreased $1.6 million in the three months ended March 31, 2025 when compared to the same period in 2024, mainly driven by cost reduction initiatives that were executed in the fourth quarter of 2024 and the shift to charging for the collection of used oil, which drove higher revenues.

Corporate

Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeSG&A expenses$63,582$60,897$2,6854.4 %As a % of Total Company Direct revenues4.4 %4.4 %— %

We manage our Corporate SG&A expenses commensurate with the overall total Company performance and direct revenue levels. As a percentage of total Company direct revenues, these costs remained relatively consistent in the three months ended March 31, 2025 and the comparable period in the prior year, continuing our trend of leveraging our SG&A base in the midst of revenue growth discussed