Clean Harbors — Oct 29, 2025 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000822818-25-000038
Showing in the filing
GAAP net income (basis for Adjusted EBITDA)
“in the range of $379 million to $400 million”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 23
Total investment in SDA facility
“$210 million to $220 million”
Commercial launch of SDA facility for FY2028
“2028”
Annual EBITDA from SDA facility for FY2025
“$30 million to $40 million”
Annual EBITDA generated by SDA facility for the long term
“$30 million to $40 million”
Payback on SDA facility investment
“six- to seven-year”
Payback on SDA facility investment for the long term
“six- to seven-year”
Adjusted EBITDA growth for Q4 FY2025
“six to eight percent range compared with a year ago”
Adjusted EBITDA for FY2025
“$1.155 billion to $1.175 billion”
GAAP net income (basis for Adjusted EBITDA) for FY2025
“in the range of $379 million to $400 million”
Net cash from operating activities (basis fo… for FY2025
“in the range of $795 million to $865 million”
Projected GAAP net income for FY2025
“$379 to $400”
Accretion of environmental liabilities for FY2025
“15 to 14”
Stock-based compensation for FY2025
“28 to 31”
Depreciation and amortization for FY2025
“455 to 445”
Interest expense, net for FY2025
“147 to 142”
Provision for income taxes for FY2025
“131 to 143”
Projected Adjusted EBITDA for FY2025
“$1,155 to $1,175”
Projected net cash from operating activities for FY2025
“$795 to $865”
Additions to property, plant and equipment for FY2025
“(400) to (430)”
Cash investment in Solvent De-Asphalting Unit for FY2025
“30 to 30”
Cash investment in Phoenix Hub for FY2025
“15 to 15”
Proceeds from sale and disposal of fixed ass… for FY2025
“15 to 15”
Projected adjusted free cash flow for FY2025
“$455 to $495”
Exhibit 99.1 · the passage around this item
… earlier in the release
We remain on track to deliver a record level of annual Adjusted EBITDA and adjusted free cash flow in 2025 with a healthy long-term market outlook.” For full-year 2025, Clean Harbors is revising its prior guidance and now expects: • Adjusted EBITDA in the range of $1.155 billion to $1.175 billion, or a midpoint of $1.165 billion, which represents 4% growth year over year. This Adjusted EBITDA range is based on anticipated GAAP net income in the range of $379 million to $400 million. • Adjusted free cash flow in the range of $455 million to $495 million, or a midpoint of $475 million, which represents more than a 30% increase from prior year. This range is based on anticipated net cash from operating activities in the range of $795 million to $865 million. Non-GAAP Results Clean Harbors reports Adjusted EBITDA, which is a non-GAAP financial measure and should not be considered an alternative to net income or other measurements under generally accepted accounting principles (GAAP) but viewed only as a supplement to those measurements. Adjusted EBITDA is not calculated identically by all companies, and therefore the Company’s measurement of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Clean Harbors believes that Adjusted EBITDA provides additional useful information to investors because the Company’s management routinely evaluates the performance of its businesses based upon levels of Adjusted EBITDA. The Company defines Clean Harbors • 42 Longwater Drive • PO Box 9149 • Norwell, Massachusetts 02061-9149 • 800.282.0058 • www.cleanharbors.com Adjusted EBITDA as described in the following reconciliation showing t
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.