Clean Harbors, Inc. reported its financial results for the first quarter of 2025, revealing total revenues of $1.432 billion, a 4.0% increase from $1.377 billion in the same period of 2024. The growth was driven by a 3.1% rise in the Environmental Services segment, which generated $1.209 billion, and a 9.1% increase in the Safety-Kleen Sustainability Solutions (SKSS) segment, which brought in $223 million. However, net income decreased to $58.7 million, down 16.0% from $69.8 million year-over-year, primarily due to increased depreciation and amortization expenses linked to recent acquisitions.
The company experienced notable operational changes, including the integration of HEPACO and Noble Oil Services, which contributed to revenue growth in their respective segments. The acquisition of HEPACO, completed in March 2024, enhanced Clean Harbors' field services capabilities, while Noble expanded its oil collection operations in the southeastern U.S. The total number of customers served by Clean Harbors now exceeds 350,000, including many Fortune 500 companies.
In terms of operational metrics, Clean Harbors reported a decrease in cash and cash equivalents to $489.4 million from $687.2 million at the end of 2024. The company also noted a significant drop in net cash from operating activities, which fell to $1.6 million from $18.5 million in the prior year, attributed to increased working capital and higher interest payments. The company’s employee headcount remained stable, with no significant changes reported.
Looking ahead, Clean Harbors anticipates continued growth driven by demand for its environmental services and the integration of its recent acquisitions. The company plans to invest between $360 million and $390 million in capital expenditures throughout 2025, focusing on enhancing its operational capabilities and expanding its service offerings. Despite the challenges posed by inflation and regulatory changes, management remains optimistic about the company's ability to generate cash flow and meet its financial obligations.
About CLEAN HARBORS INC
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