Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 146

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 146
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 measures our performance.

The following is a reconciliation of net income to Adjusted EBITDA for the following periods:

Three Months EndedNine Months Ended September 30,September 30,(in thousands, except percentages)2025202420252024Net income$118,799 $115,213 $304,384 $318,325 Accretion of environmental liabilities3,499 3,618 10,710 10,139 Stock-based compensation8,922 5,837 22,620 20,690 Depreciation and amortization114,729 100,063 342,994 295,632 Other (income) expense, net(3,517)1,123 (1,982)2,431 Interest expense, net of interest income35,700 35,779 108,883 100,767 Provision for income taxes42,027 40,181 103,641 111,741 Adjusted EBITDA$320,159 $301,814 $891,250 $859,725 As a % of Direct revenues20.7 %19.7 %19.7 %19.3 %

Depreciation and Amortization

Three Months EndedNine Months EndedSeptember 30,2025 over 2024September 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeDepreciation of fixed assets and amortization of landfills and finance leases$101,292 $86,201 $15,091 17.5 %$302,532 $254,888 $47,644 18.7 %Permits and other intangibles amortization13,437 13,862 (425)(3.1)40,462 40,744 (282)(0.7)Total depreciation and amortization$114,729 $100,063 $14,666 14.7 %$342,994 $295,632 $47,362 16.0 %

Depreciation and amortization for the three months ended September 30, 2025 increased by $14.7 million from the comparable period in 2024 due to higher amortization of landfill assets due to increased volumes, depreciation for the new Kimball incinerator, which was placed in service in December 2024,