$CLH

CLEAN HARBORS INC

CIK:0000822818|SEC Filings

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 1,735,005	$ 1,549,854	$ 3,194,542	$ 2,981,804
Cost of revenues: (exclusive of items shown separately below)
Total cost of revenues	1,126,225	1,033,497	2,140,345	2,055,381
Selling, general and administrative expenses	214,574	186,183	421,715	369,030
Accretion of environmental liabilities	3,502	3,591	7,044	7,211
Depreciation and amortization	121,807	116,285	237,606	228,265
Income from operations	268,897	210,298	387,832	321,917
Other income (expense), net	430	(603)	(301)	(1,535)
Interest expense, net of interest income of $3,628, $5,086, $10,041, and $10,714, respectively	(37,208)	(37,106)	(71,062)	(73,183)
Income before provision for income taxes	232,119	172,589	316,469	247,199
Provision for income taxes	61,655	45,684	82,804	61,614
Net income	$ 170,464	$ 126,905	$ 233,665	$ 185,585
Earnings per share:
Basic (in dollars per share)	$ 3.23	$ 2.37	$ 4.42	$ 3.46
Diluted (in dollars per share)	$ 3.22	$ 2.36	$ 4.41	$ 3.44
Shares used to compute earnings per share - Basic (in shares)	52,806	53,593	52,843	53,675
Shares used to compute earnings per share - Diluted (in shares)	52,961	53,799	53,005	53,895
Service revenues
Revenues:
Total revenues	$ 1,432,855	$ 1,336,948	$ 2,680,289	$ 2,538,402
Cost of revenues: (exclusive of items shown separately below)
Total cost of revenues	944,568	874,919	1,790,945	1,714,663
Product revenues
Revenues:
Total revenues	302,150	212,906	514,253	443,402
Cost of revenues: (exclusive of items shown separately below)
Total cost of revenues	$ 181,657	$ 158,578	$ 349,400	$ 340,718

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 233,665	$ 185,585
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	237,606	228,265
Allowance for doubtful accounts	5,951	3,249
Amortization of deferred financing costs and debt discount	2,610	3,352
Accretion of environmental liabilities	7,044	7,211
Changes in environmental liability estimates	(2,061)	(8,954)
Other expense, net	301	1,535
Stock-based compensation	24,396	13,698
Environmental expenditures	(7,079)	(7,051)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable and unbilled accounts receivable	(262,255)	(116,399)
Inventories and supplies	(11,679)	2,952
Other current and non-current assets	10,057	(13,395)
Accounts payable	8,859	(36,035)
Other current and long-term liabilities	(1,945)	(54,368)
Net cash from operating activities	245,470	209,645
Cash flows used in investing activities:
Additions to property, plant and equipment	(224,638)	(208,724)
Proceeds from sale and disposal of fixed assets	3,694	4,063
Acquisitions, net of cash acquired	(357,593)	0
Additions to intangible assets including costs to obtain or renew permits	(987)	(777)
Purchases of available-for-sale securities	(25,853)	(45,622)
Proceeds from sale of available-for-sale securities	44,857	50,318
Net cash used in investing activities	(560,520)	(200,742)
Cash flows used in financing activities:
Change in uncashed checks	(5,507)	(2,767)
Tax payments related to withholdings on vested restricted stock	(11,804)	(10,456)
Repurchases of common stock	(52,133)	(67,001)
Proceeds from employee stock purchase plan	3,611	3,360
Deferred financing costs paid	(691)	0
Payments on finance leases	(25,422)	(16,754)
Principal payments on debt	(6,300)	(7,551)
Net cash used in financing activities	(98,246)	(101,169)
Effect of exchange rate change on cash	(4,662)	5,260
Decrease in cash and cash equivalents	(417,958)	(87,006)
Cash and cash equivalents, beginning of period	826,315	687,192
Cash and cash equivalents, end of period	408,357	600,186
Cash payments for interest and income taxes:
Interest paid	75,394	76,570
Income taxes paid, net of refunds	63,801	64,534
Non-cash investing activities:
Property, plant and equipment accrued	40,544	25,156
ROU assets obtained in exchange for operating lease liabilities	41,492	34,867
ROU assets obtained in exchange for finance lease liabilities	$ 45,495	$ 57,802

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 408,357	$ 826,315
Short-term marketable securities	108,361	127,363
Accounts receivable, net of allowances aggregating $42,892 and $35,991, respectively	1,276,620	1,044,137
Unbilled accounts receivable	186,764	160,888
Inventories and supplies	382,935	372,088
Prepaid expenses and other current assets	109,203	116,452
Total current assets	2,472,240	2,647,243
Property, plant and equipment, net	2,636,955	2,541,067
Other assets:
Operating lease right-of-use assets	257,518	255,084
Goodwill	1,672,635	1,479,050
Permits and other intangibles, net	749,111	653,027
Other long-term assets	48,574	48,585
Total other assets	2,727,838	2,435,746
Total assets	7,837,033	7,624,056
Current liabilities:
Current portion of long-term debt	12,600	12,600
Accounts payable	518,186	506,592
Deferred revenue	84,038	81,529
Accrued expenses and other current liabilities	442,435	441,788
Current portion of closure, post-closure and remedial liabilities	22,774	19,112
Current portion of operating lease liabilities	80,291	75,226
Total current liabilities	1,160,324	1,136,847
Other liabilities:
Closure and post-closure liabilities, less current portion of $13,177 and $10,290, respectively	124,554	125,038
Remedial liabilities, less current portion of $9,597 and $8,822, respectively	83,512	86,547
Long-term debt, less current portion	2,759,327	2,763,563
Operating lease liabilities, less current portion	182,077	184,308
Deferred tax liabilities	384,008	384,207
Other long-term liabilities	214,809	197,886
Total other liabilities	3,748,287	3,741,549
Commitments and contingent liabilities (See Note 15)
Stockholders’ equity:
Common stock, $0.01 par value: Authorized 80,000,000 shares; issued and outstanding 52,791,094 and 52,870,599 shares, respectively	528	529
Additional paid-in capital	160,100	193,896
Accumulated other comprehensive loss	(221,722)	(204,616)
Retained earnings	2,989,516	2,755,851
Total stockholders’ equity	2,928,422	2,745,660
Total liabilities and stockholders’ equity	$ 7,837,033	$ 7,624,056