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Clear Harbors, Inc. (CLH) Goldman Sachs Industrials and Supplies Convention 2025 December 4, 2025 10:50 AM EST
Firm Members
Eric Dugas – Government VP & CFO
James Buckley – Senior Vice President of Investor Relations & Company Communications
Convention Name Members
Adam Bubes – Goldman Sachs Group, Inc., Analysis Division
Presentation
Adam Bubes
Goldman Sachs Group, Inc., Analysis Division
Hello, everybody. I am Adam Bubes with Goldman Sachs. And at this time, I am delighted to host Clear Harbors. Becoming a member of us from Clear Harbors is Eric Dugas, CFO of Clear Harbors; and Jim Buckley as effectively, SVP of Investor Relations.
Eric Dugas
Government VP & CFO
Nice to be right here.
Adam Bubes
Goldman Sachs Group, Inc., Analysis Division
Eric, Jim, thanks for becoming a member of us.
James Buckley
Senior Vice President of Investor Relations & Company Communications
Thanks for internet hosting.
Query-and-Reply Session
Adam Bubes
Goldman Sachs Group, Inc., Analysis Division
To start out the dialog, should you have a look at your Environmental Companies enterprise and the margin monitor report, I feel since 2019, you have expanded margins by round 480 foundation factors. What’s structurally modified this cycle to drive that inflection in efficiency?
Eric Dugas
Government VP & CFO
Sure. It is an important query and one thing we like to focus on. I imply, to simplify it, Adam, we oftentimes discuss roughly 500 margin — or excuse me, 500 foundation factors of margin over the past 5 years. And even should you return additional, about 800 over the past 8 years, so actually actually an important story. I feel a few issues that I take into consideration over that timeframe that is actually sort of pushed these margins is when you concentrate on our enterprise, first off, numerous nice property the place we will deal with numerous various kinds of waste streams. And what we have seen over that interval is we have been in a position to garner extra volumes into our community, whether or not that be due to strategic
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