Clean Harbors, Inc. reported a strong financial performance for the fiscal year ending December 31, 2024, with total revenues reaching $5.89 billion, an increase of 8.9% from $5.41 billion in 2023. The Environmental Services segment contributed significantly to this growth, generating $5.00 billion in revenues, up 10.9% from the previous year, driven by increased demand for field and emergency response services, as well as contributions from the acquisition of HEPACO. In contrast, the Safety-Kleen Sustainability Solutions (SKSS) segment saw a slight decline in revenues, totaling $884.8 million, primarily due to lower market pricing for base and blended oil products.
The company's net income for 2024 was $402.3 million, compared to $377.9 million in 2023, reflecting a 6.5% increase. Adjusted EBITDA also rose by over 10% to $1.12 billion, supported by improved operational efficiencies and revenue growth in the Environmental Services segment. The company reported a net cash flow from operating activities of $777.8 million, an increase of $43.2 million from the prior year, indicating strong cash generation capabilities.
In terms of strategic developments, Clean Harbors made significant acquisitions in 2024, including HEPACO for $392.2 million and Noble Oil Services for $68.7 million, which expanded its service offerings and geographic reach. The company also launched its Total PFAS Solutions service, addressing the growing demand for handling per- and polyfluoroalkyl substances. As of December 31, 2024, Clean Harbors employed 22,796 full-time employees, with a total headcount of 25,232, reflecting its growth and expansion efforts.
Operationally, Clean Harbors maintained a strong safety record, achieving a Total Recordable Incident Rate (TRIR) of 0.65 and a Days Away, Restricted Activity, and Transfer Rate (DART) of 0.27, marking the lowest DART in the company's history. The company continues to focus on sustainability, having collected 253 million gallons of used oil in 2024, which helped avoid approximately 2.4 million metric tons of greenhouse gas emissions. Looking ahead, Clean Harbors anticipates continued growth driven by its strategic initiatives, market demand for environmental services, and ongoing investments in technology and infrastructure.
About CLEAN HARBORS INC
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