Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 110

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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/MTotal1,021,884971,07050,8145.2Selling, General & Administrative Expenses (3):  Environmental Services94,58095,137(557)(0.6)Safety-Kleen Sustainability Solutions17,05019,496(2,446)(12.5)Corporate63,58260,8972,6854.4Total175,212175,530(318)(0.2)Adjusted EBITDA:  Environmental Services274,591264,47510,1163.8Safety-Kleen Sustainability Solutions28,25229,700(1,448)(4.9)Corporate(67,989)(64,080)(3,909)(6.1)Total$234,854$230,095$4,7592.1%Adjusted EBITDA as a % of Direct Revenues:Environmental Services (4)22.7 %22.6 %0.1 %Safety-Kleen Sustainability Solutions (4)12.7 %14.6 %(1.9)%Corporate (5)(4.7)%(4.7)%— %Total16.4 %16.7 %(0.3)%________________

N/M = not meaningful

(1)Direct revenues are revenues allocated to the segment performing the provided service.

(2)Cost of revenues is shown exclusive of (i) accretion of environmental liabilities and (ii) depreciation and amortization which are presented separately on the consolidated statements of operations.

(3)Selling, general and administrative expenses is shown exclusive of stock-based compensation which is presented in Selling, general and administrative expenses on the Company’s Consolidated Statements of Operations but is not included in the Company’s measurement of Adjusted EBITDA. 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.

22

Direct Revenues

There are many factors which 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