Company: CLH
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000822818-25-000030
Chunk: 133

Company: CLEAN HARBORS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 133
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SS cost of revenues for the three months ended June 30, 2025 decreased $29.9 million from the comparable period in 2024. The overall cost decreases were driven by the lower sales volumes, discussed above, and by lower acquisition costs of used oil feedstock in the three months ended June 30, 2025 compared to the prior period. As a percentage of revenues, these costs increased 1.0%, primarily due to market-related volume and pricing decreases discussed above in the SKSS direct revenues section.

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SKSS cost of revenues for the six months ended June 30, 2025 decreased $7.3 million from the comparable period in 2024 but increased 2.9% as a percentage of revenues. The overall cost decrease was driven by the lower sales volumes, discussed above, and by lower acquisition costs of used oil feedstock in the six months ended June 30, 2025 compared to the prior period. These decreases were partially offset by incremental expenses from the Noble acquisition. As a percentage of revenues, these costs increased primarily due to market-related volume and pricing decreases discussed above in the SKSS direct revenues section and the overall mix of products sold during the six months ended June 30, 2025 as compared to the same period in the prior year.

Selling, General and Administrative Expenses

We aim to manage our selling, general and administrative (“SG&A”) expenses in line with the overall performance of our segments and corresponding revenue levels. Our goal is to achieve this through enhanced technology, process improvements and strategic expense 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. For a discussion of significant changes in consolidated stock-based compensation expense, please refer to the separate section below.

Environmental Services

Three Months EndedSix Months EndedJune 30,2025 over 2024June 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeSG&A expenses$94,970$95,763$(793)(0.8)%$189,550$190,900$(1