Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 50

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 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 balances as set forth below in this section 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 EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeSG&A expenses$94,580$95,137$(557)(0.6)%As a % of Direct revenues7.8 %8.1 %(0.3)%

Environmental Services SG&A expenses for the three months ended March 31, 2025 remained relatively consistent with the comparable period in 2024, both in dollar amount and as a percentage of revenues. The current quarter results include the impact of reducing estimated costs to remediate a site by approximately $10 million to reflect our conclusion that a loss was no longer probable based on recent evaluation of available evidence. This benefit was partially offset by higher labor and benefits related costs of $7.9 

24

million as a result of the HEPACO acquisition and other investments in our employees.

Safety-Kleen Sustainability Solutions

Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeSG&A expenses$17,050$19,496$(2,446)(12.5)%As a % of Direct revenues7.7 %9.6 %(1.9)%

For the three months ended March 31, 2025, SKSS SG&A expenses decreased $2.4 million and, as a percentage of revenues, decreased 1.9% when compared to the same period in the prior year. Labor and benefit related costs decreased $1.6 million in the three months ended March 31, 2025 when compared to the same period in 2024, mainly driven by cost reduction initiatives that were executed in the fourth quarter of 2024 and the shift to charging for the collection of used oil, which drove higher revenues.

Corporate