Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 108

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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 with various pricing metrics associated with the commodity driven margin between product pricing and the overall revenue generation and costs associated with the collection of used oil. Levels of activity and ultimate performance associated with this segment can be impacted by economic conditions in the manufacturing and automotive services markets, efficiency of our operations, technology, weather conditions, changing regulations, competition and the management of our related operating costs. Overall product pricing as well as revenues generated and/or costs incurred in connection with the collection of used oil and other raw materials associated with the segment’s oil related products can also be volatile and can be impacted by global events and their relative impact on commodity products and pricing. The overall market price of oil and regulations that change the possible usage of used oil or burning of used oil as a fuel, impact the premium the segment can charge for used oil collections. 

Highlights

Total direct revenues for the three months ended March 31, 2025 were $1,432.0 million, compared with $1,376.7 million for the three months ended March 31, 2024. Our Environmental Services segment direct revenues increased $36.6 million or 3.1% for the three months ended March 31, 2025 from the comparable period in 2024 driven by growth in Field and Emergency Response Services, specifically incremental contributions from the acquisition of HEPACO, as well as growth in our Technical Services and Safety-Kleen core service offerings, offset by contraction of Industrial Services revenues. For the three months ended March 31, 2025, our SKSS segment direct revenues increased $18.7 million or 9.1% from the comparable period in 2024, driven by the contributions of Noble as well as growth in charge for oil revenue, which was partially offset by lower sales of blended and base oil. Foreign currency translation of our Canadian operations negatively impacted our consolidated direct revenues by $8.2 million in the three months ended March 31, 2025 compared to the same period in 2024.

Income from operations for the three months ended March 31, 2025 was $111.6 million, compared with $125.5 million in the three months ended March 31, 2024, representing a decrease of 11.0%, primarily driven by an increase in depreciation and amortization expense as a result of the incremental assets from the acquisitions of HEPACO and Noble, which occurred in the first quarter of 2024. Net income for the three months ended March 31, 202