Clean Harbors, Inc. · NYSE:CLH
Clean Harbors — Q4 2024 Earnings Presentation
18 slides from Clean Harbors's earnings presentation, Feb 19, 2025
Slide 1: Fourth-Quarter and Full-Year 2024 Investor Review
Fourth-Quarter and Full-Year 2024 Investor Review February 19, 2025 1
Slide 2: Forward Looking Statements and GAAP Disclaimer
Forward Looking Statements and GAAP Disclaimer These slides contain (and the accompanying oral discussion will contain) forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "seeks,“ “will,” "should," "estimates,
Slide 3: Summary of Q4 and 2024 Results
Summary of Q4 and 2024 Results Q4 ▪ Revenue grew 7% to $1.43 billion ▪ Net income of $84.0 million; EPS of $1.55 ▪ Adjusted EBITDA* was $257.2M; Adjusted EBITDA margin was 18.0% Full-Year 2024 ▪ Revenue grew 9% to $5.89 billion ▪ Net income of $402.3 million; EPS of $7.42 ▪ Adjusted EBITDA* increase
Slide 4: Environmental Services
Environmental Services Q4 Performance $1,225.7 $1,122.3 ▪ Revenue increased YoY due to addition of HEPACO combined with organic growth driven by higher pricing, incineration utilization and Revenue overall waste volumes +9% (in millions) ▪ Adjusted EBITDA increased due to higher revenues along with
Slide 5: Kimball Incinerator – Commercial Launch Complete
Kimball Incinerator – Commercial Launch Complete ▪ 70,000-ton facility began processing hazardous waste in December ▪ Will ramp up volumes and mix over next 12-18 months as we optimize the facility ▪ Customer interest remains strong ▪ Opportunity to capitalize on captive incinerators and potential P
Slide 6: Safety-Kleen Sustainability Solutions
Safety-Kleen Sustainability Solutions $215.8 Q4 Performance $205.3 ▪ Revenue down YoY, reflecting lower pricing and demand for base Revenue oil and blended products, partially offset by the addition of Noble -5% (in millions) Oil. ▪ Adjusted EBITDA decline reflects lower revenue, pricing environment
Slide 7: Disciplined Capital Allocation Strategy – Driven by ROIC
Disciplined Capital Allocation Strategy – Driven by ROIC Organic Growth Share ▪ Invest in capex to drive Investments Repurchases organic growth ▪ Evaluate acquisition and divestiture opportunities ▪ Execute authorized buyback plan Acquisitions Debt ▪ Assess current debt structure and leverage & Dive
Slide 8: Financial Overview
PEOPLE AND TECHNOLOGY CREATING A SAFER, CLEANER ENVIRONMENT 8
Slide 9: Q4 and Full-Year 2024 Income Statement
Q4 and Full-Year 2024 Income Statement (in millions, except per share data) Q4 2024 Q4 2023 2024 2023 Revenues $1,431.1 $1,338.2 $5,890.0 $5,409.2 Cost of revenues $1,003.5 $923.1 $4,065.7 $3,746.1 Gross profit $427.6 $415.0 $1,824.2 $1,663.0 Gross margin % 29.9% 31.0% 31.0% 30.7% Selling, general a
Slide 10: Balance Sheet Highlights
Balance Sheet Highlights (in millions) 12/31/24 9/30/24 12/31/23 Cash and short-term marketable securities $789.8 $594.7 $550.8 Billed and unbilled receivables $1,177.6 $1,305.0 $1,091.0 Accounts payable $487.3 $504.2 $451.8 Current and long-term debt $2,786.2 $2,788.8 $2,301.7 Environmental liabili
Slide 11: Cash Flow Highlights
Cash Flow Highlights Q4 2024 Q4 2023 2024 2023 (in millions) Cash from operations $303.9 $278.9 $777.8 $734.6 Capital expenditures, net of disposals ($59.7) ($105.9) ($423.1) ($412.7) Adjusted free cash flow* $247.5 $173.0 $357.9 $321.9 Share repurchases $25.0 $33.2 $55.2 $51.2 * Please refer to the
Slide 12: Guidance (as of February 19, 2025)
Guidance (as of February 19, 2025) Full-Year 2025 (in millions) Range Net Income $376 to $427 Adjusted EBITDA* $1,150 to $1,210 Net Cash from Operating Activities $775 to $865 Adjusted Free Cash Flow* $430 to $490 * Please refer to the appendix in this presentation for a reconciliation of Adjusted E
Slide 13: Appendix
APPENDIX PEOPLE AND TECHNOLOGY CREATING A SAFER, CLEANER ENVIRONMENT 13
Slide 14: Non-GAAP Results Reconciliation
Non-GAAP Results Reconciliation (in thousands, except percentages) For the Three Months Ended For the Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income $ 83,974 $ 98,349 $ 402,299 $ 377,856 Accretion of environmental liabilities 3,317 3,386 13,456
Slide 15: Non-GAAP Results Reconciliation
Non-GAAP Results Reconciliation (in thousands) For the Three Months Ended For the Twelve Months Ended December 31, December 31, December 31, December 31, 2024 2023 2024 2023 Adjusted free cash flow Net cash from operating activities $ 303,938 $ 278,860 $ 777,771 $ 734,552 Additions to property, plan
Slide 16: Non-GAAP Guidance Reconciliation
Non-GAAP Guidance Reconciliation For the Year Ending (in millions) December 31, 2025 Projected net income $376 to $427 Adjustments: Accretion of environmental liabilities 15 to 14 Stock-based compensation 28 to 31 Depreciation and amortization 450 to 440 Interest expense, net 146 to 141 Provision fo
Slide 17: Questions
Questions PEOPLE AND TECHNOLOGY CREATING A SAFER, CLEANER ENVIRONMENT
Slide 18: (NYSE: CLH)
(NYSE: CLH) 42 Longwater Drive Norwell, MA 02061 Jim Buckley SVP, Investor Relations 781-792-5100 Email: Buckley.James@CleanHarbors.com www.cleanharbors.com 18