Clean Harbors | 10-Q: FY2025 Q2 Revenue Misses Estimate at USD 1.55 B

LB filings
2025.07.30 15:12
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Revenue: As of FY2025 Q2, the actual value is USD 1.55 B, missing the estimate of USD 1.592 B.

EPS: As of FY2025 Q2, the actual value is USD 2.36, missing the estimate of USD 2.3876.

EBIT: As of FY2025 Q2, the actual value is USD 210.3 M, missing the estimate of USD 212.76 M.

Environmental Services Segment

  • Direct Revenues: $1,352.0 million for Q2 2025, an increase of 3.3% from $1,309.4 million in Q2 2024. For the first half of 2025, revenues were $2,561.1 million, up 3.2% from $2,481.9 million in the same period of 2024.
  • Cost of Revenues: $880.9 million for Q2 2025, consistent as a percentage of revenues compared to Q2 2024. For the first half of 2025, costs were $1,720.8 million, also consistent as a percentage of revenues compared to the first half of 2024.
  • SG&A Expenses: $95.0 million for Q2 2025, a slight decrease from $95.8 million in Q2 2024. For the first half of 2025, expenses were $189.6 million, down from $190.9 million in the same period of 2024.
  • Adjusted EBITDA: $376.2 million for Q2 2025, up 4.5% from $359.9 million in Q2 2024. For the first half of 2025, Adjusted EBITDA was $650.8 million, an increase of 4.2% from $624.4 million in the same period of 2024.

Safety-Kleen Sustainability Solutions Segment

  • Direct Revenues: $197.7 million for Q2 2025, a decrease of 18.7% from $243.2 million in Q2 2024. For the first half of 2025, revenues were $420.5 million, down 6.0% from $447.3 million in the same period of 2024.
  • Cost of Revenues: $140.6 million for Q2 2025, a decrease of 17.5% from Q2 2024. For the first half of 2025, costs were $318.0 million, down 2.2% from $325.3 million in the same period of 2024.
  • SG&A Expenses: $18.9 million for Q2 2025, down 11.6% from $21.3 million in Q2 2024. For the first half of 2025, expenses were $35.9 million, down 12.1% from $40.8 million in the same period of 2024.
  • Adjusted EBITDA: $38.3 million for Q2 2025, down 25.6% from $51.5 million in Q2 2024. For the first half of 2025, Adjusted EBITDA was $66.6 million, a decrease of 18.0% from $81.2 million in the same period of 2024.

Cash Flow

  • Net Cash from Operating Activities: $209.6 million for the first half of 2025, a decrease from $234.6 million in the same period of 2024.
  • Adjusted Free Cash Flow: $17.4 million for the first half of 2025, compared to an outflow of $34.1 million in the same period of 2024.

Future Outlook and Strategy

  • Core Business Focus: The company plans to continue integrating recent acquisitions, such as HEPACO and Noble, to enhance service offerings and operational efficiency. The focus remains on expanding core services and improving utilization rates of facilities like incinerators.
  • Non-Core Business: The company is investing in strategic projects like the Phoenix hub, expected to cost approximately $15 million in 2025, to support long-term growth.
Source: LB filings The copyright of this article belongs to the original author/organization.
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