Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 68

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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30,2025 over 2024September 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeInterest expense, net of interest income$35,700 $35,779 $(79)(0.2)%$108,883 $100,767 $8,116 8.1 %

Interest expense, net of interest income for the three months ended September 30, 2025 remained relatively consistent with the comparable period in 2024.

Interest expense, net of interest income for the nine months ended September 30, 2025 increased $8.1 million from the comparable period in 2024 primarily due to higher levels of outstanding debt during the period resulting from the issuance of incremental debt on March 22, 2024. Interest expense was partially offset by a $4.0 million increase in interest income in the nine months ended September 30, 2025 compared to the same period in 2024. 

As of September 30, 2025, the effective interest rate on our debt was 5.3%. For the remainder of 2025, and including the impact of the refinancing transactions that occurred in October 2025, we expect interest expense, net of interest income to remain relatively consistent with the prior year. For additional information regarding our current portfolio of long-term debt, see Note 11, “Financing Arrangements,” to the accompanying unaudited consolidated financial statements. 

Provision for Income Taxes

Three Months EndedNine Months EndedSeptember 30,2025 over 2024September 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeProvision for income taxes$42,027$40,181$1,8464.6 %$103,641$111,741$(8,100)(7.2)%Effective tax rate26.1 %25.9 %0.2 %25.4 %26.0 %(0.6)%

For the three months ended September 30, 2025, the increase in the provision for income taxes is consistent with the increase in pre-tax income, while our effective tax rate was relatively consistent with the same period in 2024.

For the nine months ended September 30, 2025, the provision for income taxes decreased $8.1 million compared to the same period in