Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 138

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 138
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BITDA. See “Adjusted EBITDA” section below for a reconciliation of net income to Adjusted EBITDA.

(4)Calculated as a percentage of individual segment direct revenue.

(5)Calculated as a percentage of total Company direct revenue.

27

Direct Revenues

There are many factors that can impact our revenues including, but not limited to: overall levels of industrial activity and economic growth in North America, competitive industry pricing, overall market incineration capacity including captive incineration closures, changes in the regulatory environment including those related to per- and polyfluoroalkyl substances (“PFAS”), impacts of acquisitions and divestitures, the level of emergency response services, government infrastructure investment, reshoring of domestic manufacturing, existence or non-existence of large scale environmental waste and remediation projects, weather related events, the number of parts washers placed at customer sites, miles driven and related lubricant demand, base and blended oil pricing, market supply for base oil products, market changes relative to the collection of used oil and foreign currency fluctuations. In addition, customer efforts to minimize hazardous waste and changes in regulation can impact our revenues. 

Environmental Services     

Three Months EndedNine Months EndedSeptember 30,2025 over 2024September 30,2025 over 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeDirect revenues$1,331,300 $1,297,187 $34,113 2.6 %$3,892,448 $3,779,080 $113,368 3.0 %

Environmental Services direct revenues for the three months ended September 30, 2025 increased $34.1 million from the comparable period in 2024. Technical Services revenue increased $53.6 million from the comparable period in the prior year with contributions across our portfolio of waste disposal services, including stronger volumes at our incinerator and landfill facilities as well as higher revenues from waste and remediation projects. On a comparative basis and excluding the impacts of the new incinerator in Kimball, Nebraska which is not expected to be running at full utilization until 2026, utilization at our incinerators was 92% in the three months ended September 30, 2025 as compared to 89% in the same period in 2024. Including the new Kimball incinerator, utilization at our incinerators was 88% during the three months ended September