Company: CLH
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000822818-25-000030
Chunk: 113

Company: CLEAN HARBORS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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 2024(in thousands, except percentages)20252024Change% Change20252024Change% ChangeProvision for income taxes$45,684$45,597$870.2 %$61,614$71,560$(9,946)(13.9)%Effective tax rate26.5 %25.5 %1.0 %24.9 %26.1 %(1.2)%

For the three months ended June 30, 2025, the provision for income taxes and our effective tax rate were relatively consistent with the same period in 2024.

For the six months ended June 30, 2025, the provision for income taxes decreased $9.9 million compared to the same period in 2024. This decrease was driven by both lower pre-tax income as well as a reduced effective tax rate in 2025. The decrease in our effective tax rate in the six months ended June 30, 2025 was driven by the write-off of a deferred tax asset with a full valuation allowance associated with the remedial liability change in estimate discussed above, which occurred in the first quarter of 2025.

Liquidity and Capital Resources 

We assess our liquidity in terms of our ability to generate cash to fund our operating, investing, and financing activities. Our primary ongoing cash requirements will be to fund operations, capital expenditures, interest payments and investments in line with our business strategy as of the date of this report. We believe our future operating cash flows will be sufficient to meet our future operating and internal investing cash needs. We monitor our actual needs and forecasted cash flows, our liquidity and our capital resources, enabling us to plan our present needs and fund items that may arise during the year as a result of changing business conditions or opportunities. Furthermore, our existing cash balance and the availability of additional borrowings under our revolving credit facility provide additional potential sources of liquidity should they be required.

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Summary of Cash Flow Activity

Six Months EndedJune 30,(in thousands)20252024Net cash from operating activities$209,645 $234,594 Net cash used in investing activities(200,742)(730,670)Net cash (used in) from financing activities(101,169)455,503 

Net cash from operating activities

Net cash from operating activities for the six months ended June 30, 2025 was $209.6 million as compared to $234.6 million in the same period