Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 143

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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 management. Expanding our support functions globally has led to both profitability and productivity improvements. We believe our ability to properly align these costs with business performance is reflective of our strong management of the businesses and further promotes our ability to remain competitive in the marketplace.

 The SG&A expenses set forth below exclude stock-based compensation expense, which is presented in SG&A on the Company’s Consolidated Statement of Operations, but is not included in the Company’s measurement of Adjusted EBITDA.

Environmental Services

Three Months EndedNine Months EndedSeptember 30,2025 over 2024September 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeSG&A expenses$102,584$90,271$12,31313.6 %$292,134$281,171$10,9633.9 %As a % of Direct revenues7.7 %7.0 %0.7 %7.5 %7.4 %0.1 %

Environmental Services SG&A expenses for the three months ended September 30, 2025 increased $12.3 million from the comparable period in 2024, and as a percentage of revenue increased slightly. Overall, labor and benefits related costs, including the impact of higher healthcare costs, increased $9.6 million with the remaining increase spread across various cost categories. 

Environmental Services SG&A expenses for the nine months ended September 30, 2025 increased $11.0 million from the comparable period in 2024, remaining relatively consistent as a percentage of revenue. Overall, labor and benefits related costs increased $21.3 million compared to the same period in 2024, including higher employee healthcare costs and incremental costs 

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related to the acquired HEPACO operations. The results for the nine months ended September 30, 2025 include the impact of reducing the estimated costs to remediate a site by approximately $10 million in the first quarter of 2025 to reflect our conclusion that loss was no longer probable based on the evaluation of available evidence. 

Safety-Kleen Sustainability Solutions

Three Months EndedNine Months EndedSeptember 30,2025 over 2024September 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeSG&A expenses$18,555$19,793$(1,238)(6.3)%$54,455$60,616$(