Company: CLH
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000822818-25-000007
Chunk: 305

Company: CLEAN HARBORS INC
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 305
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 business opportunities and aggressively implement strategic sourcing and logistics solutions, while also continuing to optimize our management and operating structure in an effort to manage our operating margins.

Environmental Services

For the years ended December 31,2024 over 20232023 over 2022(in thousands, except percentages)202420232022Change% ChangeChange% ChangeCost of revenues$3,366,022 $3,063,043 $2,902,979 $302,9799.9 %$160,064 5.5 %As a % of Direct revenues67.3 %67.9 %69.6 %(0.6)%(1.7)%

Environmental Services cost of revenues for the year ended December 31, 2024 increased $303.0 million from the comparable period in 2023, while improving as a percentage of revenues. Overall, labor and benefit related costs increased $170.3 million, equipment and supply costs increased $95.2 million and external transportation, vehicle, and fuel costs increased $24.6 million. These cost increases were generally in line with the revenue growth in the business and the addition of the acquired operations in 2024. However better leverage of our costs and increases in revenues further improved our cost efficiency as a percentage of revenues.

Environmental Services cost of revenues for the year ended December 31, 2023 increased $160.1 million from the comparable period in 2022, but as a percentage of revenues, these costs improved 1.7%. Overall, labor and benefit related costs increased $126.1 million, equipment and supply costs increased $23.4 million and external transportation, vehicle and fuel related costs increased $6.8 million. These cost increases were generally commensurate with the revenue growth in the business, however better leverage of our costs drove the cost improvement as a percentage of revenues.

Safety-Kleen Sustainability Solutions

For the years ended December 31,2024 over 20232023 over 2022(in thousands, except percentages)202420232022Change% ChangeChange% ChangeCost of revenues$659,217$646,301$615,303$12,9162.0 %$30,9985.0 %As a % of Direct revenues74.5 %72.0 %61.9 %2.5 %10.1 %

SKSS cost of revenues for the year ended December 31, 2024 increased $12.9