Risk Sleuth
CLH · 10-K filed 18 Feb 2026 · year to 31 Dec 2025

Clean Harbors

30 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Automotive industry

earns from · 10%named as a risk
Declines in this industry, whether temporary or reflecting longer-term fundamental changes in transportation, energy usage or vehicle technology, may reduce the demand for these core service offerings, which may adversely impact our financial results.Risk factors (Item 1A)

Also named by AMKR, CGNX, ESI, GGG, GNTX

Chemical industry

earns from · 14%named as a risk
Our business is also cyclical to the extent that it is dependent upon streams of waste from cyclical industries such as chemical and petrochemical.Risk factors (Item 1A)

Also named by FLS

Refining industry

earns from · 12%
As a percentage of our 2025 revenues, the top ten industries we serviced totaled approximately 80% of revenues and included general manufacturing (14%), chemical (14%), refineries (12%), automotive (10%), utilities (7%), transportation (6%), government (5%), base and blended oils (4%), oil and gas (4%) and retail (4%).Business (Item 1)

Also named by APD

General manufacturing industry

earns from · 14%
As a percentage of our 2025 revenues, the top ten industries we serviced totaled approximately 80% of revenues and included general manufacturing (14%), chemical (14%), refineries (12%), automotive (10%), utilities (7%), transportation (6%), government (5%), base and blended oils (4%), oil and gas (4%) and retail (4%).Business (Item 1)

Other companies

Safety-Kleen parts washer product liability lawsuits

76 such proceedingsnamed as a risk
As of December 31, 2025, we were involved in 76 such proceedings (including cases which have been settled but not formally dismissed) wherein persons claim personal injury resulting from the use of our parts cleaning equipment or cleaning products.Risk factors (Item 1A)

Competitors

Chevron Corporation

competes with
With our KLEEN+ base oil produced at our re-refineries, we compete against base oil produced at traditional oil refineries such as Motiva Enterprises LLC and Chevron Corporation.Business (Item 1)

Also named by DMLP, PSX

Veolia North America

competes with
For our commercial incineration services, our competitors include Veolia North America, EQT Infrastructure and Ross Incineration.Business (Item 1)

Crystal Clean

competes with
For our SKSS segment, competitors vary by locality and by type of services rendered, with competition coming from Crystal Clean, along with many regional and local firms.Business (Item 1)

GFL Environmental

competes with
Veolia North America, Enviri Corporation, Republic Services, Waste Management, GFL Environmental and Crystal Clean were the principal national firms with which we competed in 2025.Business (Item 1)

Motiva Enterprises LLC

competes with
With our KLEEN+ base oil produced at our re-refineries, we compete against base oil produced at traditional oil refineries such as Motiva Enterprises LLC and Chevron Corporation.Business (Item 1)

Places

Canada

earns from · $540.0 million or 9.0% of our third-party revenuesnamed as a risk
In particular, we recorded 9% of our fiscal 2025 revenues in Canada and employ 9% of our full-time active employees at our Global Capabilities Center in India.Risk factors (Item 1A)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

India

operates in · 9% of our full-time active employeesnamed as a risk
In particular, we recorded 9% of our fiscal 2025 revenues in Canada and employ 9% of our full-time active employees at our Global Capabilities Center in India.Risk factors (Item 1A)

Also named by A, AAPL, ACN, AJG, AKAM, AMZN, AOS, AVGO and 54 more

United States

earns from · $5,490.9 million or 91.0% of our third-party revenues
For the year ended December 31, 2025, we generated $5,490.9 million or 91.0% of our third-party revenues in the United States and $540.0 million or 9.0% of our third-party revenues in Canada.Business (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Kimball, Nebraska

operates in
We operate ten commercial hazardous waste incinerators, including our newest incinerator in Kimball, Nebraska, which commenced operations in late 2024 and is expected to be running at full capacity by the end of 2026.Business (Item 1)

East Chicago, Indiana

operates in
In 2025, we began construction of a state-of-the-art Solvent De-Asphalting, or SDA, unit adjacent to our East Chicago, Indiana, re-refinery.Business (Item 1)

Hazards

Hurricanes

named as a risk
Natural disasters such as hurricanes, tornados, earthquakes, wildfires or other catastrophic events, including public health threats or the effects of climate change, could negatively affect our operations and financial performance and harm our reputation.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

Commodities and inputs

Canadian dollar

exposed to its price · $18.4 millionnamed as a risk
Had the Canadian Dollar been 10.0% stronger or weaker against the U.S. Dollar, we would have reported increased or decreased net income of $18.4 million for the year ended December 31, 2025.Market risk (Item 7A)

Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more

Term SOFR

exposed to its price · $6.5 millionnamed as a risk
Should the average interest rate on the remaining variable portion of our long-term debt change by 100 basis points, we estimate that our annual interest expense would change by up to approximately $6.5 million.Market risk (Item 7A)

Also named by BWIN, DORM, DPZ, DY, ECG, HUBB, IBP, IEX and 9 more

Used oil

depends on · 243 million gallons of used oilnamed as a risk
In 2025, we collected 243 million gallons of used oil.Business (Item 1)

Crude oil / oil products prices

exposed to its pricenamed as a risk
Our SKSS segment results are significantly impacted by market pricing of oil products.Business (Item 1)

Regulators

U.S. Environmental Protection Agency (EPA)

subject tonamed as a risk
Every facility that treats, stores or disposes of hazardous waste must obtain a RCRA permit from the EPA or an authorized state agency unless a specific exemption exists and must comply with certain operating requirements, also known as the Part B permitting process.Business (Item 1)

Also named by AAON, AAP, ALSN, AMRC, APA, APD, APG, AROC and 78 more

Laws and programs

International Maritime Organization (IMO) sulphur cap

subject to · 0.50% sulphurnamed as a risk
This regulation indirectly impacts our SKSS segment as it has reduced the end market of used oil.Business (Item 1)

Comprehensive Environmental Response, Compensation and Liability Act (Superfund)

subject tonamed as a risk
Under the statute, we may be deemed liable as a generator or transporter of a hazardous substance that is released into the environment, or as the owner or operator of a facility from which there is a release of a hazardous substance into the environment.Business (Item 1)

Also named by ALSN, AME, BRK/B, BWA, CMI, DD, GIS, GVA and 10 more

Resource Conservation and Recovery Act (RCRA)

subject tonamed as a risk
RCRA is the principal federal statute governing hazardous waste generation, treatment, transportation, storage and disposal.Business (Item 1)

Also named by AN, CDE, CTAS, ESI, HL, LB, MLM, NUE and 7 more

PFAS regulation

subject tonamed as a risk
Though we have the ability to perform much of the required remediation efforts internally, which helps to limit the cost exposure, events not now anticipated, including future changes in environmental laws and regulations, including laws, regulations or guidance addressing emerging contaminants such as PFAS, changes to the natural landscape at or surrounding our facilities or remediation sites, or new information identified during remediation, could require that such payments be made earlier or in greater amounts than we now estimate, which could adversely affect our financial condition, results of operations and cash flows.Risk factors (Item 1A)

Also named by AMGN, SMG, WCN, ZTS

Surety bonds and financial assurance

depends onnamed as a risk
Our ability to continue operating our facilities and conducting our operations would be adversely affected if we became unable to obtain sufficient insurance, surety bonds, letters of credit and other forms of financial assurance at reasonable cost to meet our regulatory and other business requirements.Risk factors (Item 1A)

Clean Water Act

subject to
We are required to obtain discharge permits and conduct sampling and monitoring programs.Business (Item 1)

Also named by CNX, CTAS, DC, ELS, EQT, HL, STLD, WTTR and 2 more

Toxic Substances Control Act (TSCA)

subject to
We operate a network of collection, treatment and field services (remediation) facilities throughout North America whose activities are regulated under provisions of TSCA.Business (Item 1)

Also named by A, ALB, ECL, EMN, ESI, IFF, OLN, PRM and 1 more

Canadian Environmental Protection Act (CEPA 99)

subject to
Environment Canada is the federal agency with responsibility for environmental matters and the main legislative instrument is the CEPA 99.Business (Item 1)

Also named by SUNC

Massachusetts and California used oil hazardous waste rules

subject to
For example, certain states, including Massachusetts and California, consider used oil as “hazardous waste” while RCRA does not.Business (Item 1)