Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 54

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 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.

Summary of Cash Flow Activity

Three Months EndedMarch 31,(in thousands)20252024Net cash from operating activities$1,605 $18,549 Net cash used in investing activities(120,330)(609,873)Net cash (used in) from financing activities(79,259)486,019 

Net cash from operating activities

Net cash from operating activities for the three months ended March 31, 2025 was $1.6 million as compared to $18.5 million in the same period of 2024. This $16.9 million decrease in operating cash flows was attributable to an increase in working capital balances for the three months ended March 31, 2025 as compared to the same period in 2024, as well as lower income from operations and higher cash paid for interest. 

Net cash used in investing activities

Net cash used in investing activities for the three months ended March 31, 2025 was $120.3 million, a decrease of $489.5 million from the comparable period in 2024. In the three months ended March 31, 2024, we paid $475.3 million for acquisitions, including the purchase of HEPACO and Noble. Additions to property, plant and equipment decreased $19.2 million, primarily due to notable project spend on the Baltimore, Maryland strategic project and the Kimball incinerator in the three months ended March 31, 2024.

Net cash (used in) from financing activities

Net cash used in financing activities for the three months ended March 31, 2025 was $79.3 million, as compared to net cash from financing activities of $486.0 million for the three months ended March 31, 2024. The primary drivers of this change were the incurrence of term loans net of discount and deferred financing costs of $494.7 million in