Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 135

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 135
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 for the three and nine months ended September 30, 2025 and incremental contributions from Noble for the nine months ended September 30, 2025. Foreign currency translation of our Canadian operations negatively impacted our consolidated direct revenues by $1.6 million and $11.7 million in the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024.

Income from operations for the three and nine months ended September 30, 2025 was $193.0 million and $514.9 million, compared with $192.3 million and $533.3 million in the three and nine months ended September 30, 2024, respectively. Depreciation and amortization expense for the three and nine months ended September 30, 2025 was $14.7 million and $47.4 million higher, 

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respectively, than the comparable period in 2024, which impacted comparative operating income. Net income for the three months ended September 30, 2025 was $118.8 million, an increase of $3.6 million, or 3.1%, as compared with net income of $115.2 million in the three months ended September 30, 2024. Net income for the nine months ended September 30, 2025 was $304.4 million, a decrease of $13.9 million, or 4.4%, as compared with net income of $318.3 million in the nine months ended September 30, 2024.

Adjusted EBITDA, which is the primary financial measure by which we evaluate the operating performance of our segments, increased $18.3 million and $31.5 million or 6.1% and 3.7%, from $301.8 million and $859.7 million in the three and nine months ended September 30, 2024 to $320.2 million and $891.3 million in the three and nine months ended September 30, 2025, respectively. Additional information regarding Adjusted EBITDA, which is a non-GAAP measure, including a reconciliation of net income to Adjusted EBITDA, appears below under “Adjusted EBITDA.”

Net cash from operating activities for the nine months ended September 30, 2025 increased $37.8 million from $473.8 million in 2024 to $511.6 million primarily due to the impact of improved working capital in 2025