Slide 1: First-Quarter 2025 Investor Review
First-Quarter 2025 Investor Review April 30, 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 Q1 Results
Summary of Q1 Results ▪ Revenue of $1.43B, up 4% YoY reflecting growth in both operating segments ▪ Net income of $58.7 million or EPS of $1.09 ▪ Adjusted EBITDA* was $234.9M; Adjusted EBITDA* margin of 16.4% ▪ Adjusted free cash flow* was ($115.7) million; in line with our expectations due to timin
Slide 4: Environmental Services
Environmental Services $1,209.1 Q1 Performance $1,172.5 ▪ Revenue increased YoY primarily due to addition of HEPACO. We also had growth resulting from pricing, incineration utilization Revenue +3% and waste volumes, which offset a decline in Industrial Services (in millions) ▪ Adjusted EBITDA increa
Slide 5: Safety-Kleen Sustainability Solutions
Safety-Kleen Sustainability Solutions $222.7 Q1 Performance $204.1 ▪ Revenue up YoY, reflecting greater volumes, including the addition Revenue of Noble Oil, as well as the shift to higher charge for oil (CFO) that +9% (in millions) more than offset lower pricing and weak demand environment for base
Slide 6: 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 7: Financial Overview
PEOPLE AND TECHNOLOGY CREATING A SAFER, CLEANER ENVIRONMENT 7
Slide 8: Q1 Income Statement
Q1 Income Statement (in millions, except per share data) Q1 2025 Q1 2024 Revenues $1,432.0 $1,376.7 Cost of revenues $1,021.9 $971.1 Gross profit $410.1 $405.6 Gross margin % 28.6% 29.5% Selling, general and administrative expenses $182.8 $181.9 SG&A % 12.8% 13.2% Depreciation and amortization $112.
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights (in millions) 3/31/25 12/31/24 3/31/24 Cash and short-term marketable securities $595.3 $789.8 $442.6 Billed and unbilled receivables $1,248.6 $1,177.6 $1,205.4 Accounts payable $443.7 $487.3 $452.8 Current and long-term debt $2,783.9 $2,786.2 $2,793.7 Environmental liabilit
Slide 10: Cash Flow Highlights
Cash Flow Highlights Q1 2025 Q1 2024 (in millions) Cash from operations $1.6 $18.5 Capital expenditures, net of disposals ($117.4) ($136.9) Adjusted free cash flow* ($115.7) ($118.4) Share repurchases $55.0 $5.0 * Please refer to the appendix in this presentation for a reconciliation to the nearest
Slide 11: Guidance (as of April 30, 2025)
Guidance (as of April 30, 2025) Full-Year 2025 (in millions) Range Net Income $377 to $428 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 EBIT
Slide 12: Appendix
APPENDIX PEOPLE AND TECHNOLOGY CREATING A SAFER, CLEANER ENVIRONMENT 12
Slide 13: Non-GAAP Results Reconciliation
Non-GAAP Results Reconciliation (in thousands, except percentages) Three Months Ended March 31, 2025 March 31, 2024 Net income $ 58,680 $ 69,832 Accretion of environmental liabilities 3,620 3,217 Stock-based compensation 7,635 6,338 Depreciation and amortization 111,980 95,065 Other expense, net 932
Slide 14: Non-GAAP Results Reconciliation
Non-GAAP Results Reconciliation (in thousands) Three Months Ended March 31, 2025 March 31, 2024 Net cash from operating activities $ 1,605 $ 18,549 Additions to property, plant and equipment (118,695) (137,913) Proceeds from sale and disposal of fixed assets 1,343 1,008 Adjusted free cash flow $ (11
Slide 15: Non-GAAP Guidance Reconciliation
Non-GAAP Guidance Reconciliation For the Year Ending (in millions) December 31, 2025 Projected net income $377 to $428 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 16: Questions
PEOPLE AND TECHNOLOGY CREATING A SAFER, CLEANER ENVIRONMENT
Slide 17: (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 17