Core Viewpoint - Enviri Corporation will release its first quarter 2025 earnings results on May 1, 2025, before the NYSE market opens, and will host a conference call that morning at 9:00 a.m. ET [1][3]. Company Overview - Enviri Corporation is a global leader in providing a wide range of environmental services and innovative solutions, focusing on recycling and reuse solutions for waste streams [3]. - The company operates in over 150 locations across more than 30 countries, helping customers address complex environmental challenges and achieve sustainability goals [3]. Conference Call Details - The conference call is scheduled for May 1, 2025, at 9:00 a.m. ET, with dial-in options available for both US and international participants [3]. - Listeners are encouraged to join the call approximately ten minutes early, and an archived version of the webcast will be available on the company's website [2].

Core Insights - Clean Earth, a division of Enviri Corporation, has deployed a new fleet of 132 Class 7 and Class 8 trucks designed to enhance safety, compliance, and customer service while reducing environmental impact [1][3] Fleet Features - The new fleet features an innovative modular design that allows for the integration of high-quality components, promoting sustainability by reusing cargo boxes that can last three times longer than the chassis [2] - The trucks are equipped with technology-driven advancements, including a mobile office system for on-site documentation, AI-powered cameras for real-time monitoring, and integrated climate control systems to ensure safe transport of regulated materials [3] Production and Commitment - Production of these new trucks began in 2024, with additional vehicles contracted for release starting this year, reflecting Clean Earth's commitment to continuous innovation and improvement in service capabilities [4] Company Overview - Clean Earth operates a network of 93 locations across the United States, providing a wide range of waste management and environmental services, from simple waste needs to complex environmental challenges [5]

Company Performance - Enviri (NVRI) closed at $6.75, reflecting a -0.15% change from the previous day, underperforming the S&P 500 which gained 0.08% [1] - Over the past month, Enviri's shares have depreciated by 10.58%, compared to a 9.22% loss in the Business Services sector and a 7.33% loss in the S&P 500 [1] Earnings Forecast - Enviri is expected to report an EPS of -$0.15, indicating a 400% decline from the same quarter last year [2] - The consensus estimate for quarterly revenue is $580.6 million, down 3.28% from the previous year [2] - For the entire year, the forecasted earnings are -$0.19 per share and revenue of $2.35 billion, reflecting changes of -171.43% and +0.31% respectively compared to the prior year [3] Analyst Estimates and Rankings - Recent changes in analyst estimates for Enviri are crucial as they reflect short-term business trends [4] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently places Enviri at 3 (Hold) [6] - The Zacks Consensus EPS estimate has decreased by 371.43% in the past month [6] Industry Context - The Waste Removal Services industry, part of the Business Services sector, has a Zacks Industry Rank of 179, placing it in the bottom 29% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Insights - Harsco Environmental has announced the opening of a new SteelPhalt plant in Murga, Basque Country, Spain, marking its first permanent asphalt plant outside the UK, aimed at expanding its global footprint and promoting sustainable practices in the asphalt industry [1][2][3] Company Developments - The new plant is set to host a grand opening event on March 19, 2025, and is designed to process over 195,000 tons of slag annually, producing more than 200,000 tons of sustainable asphalt products for regional roads [1][3] - The plant will contribute to the Basque Country's environmental goals as outlined in the Waste Prevention and Management Plan 2030 and the Circular Economy Strategy 2030 [2] Environmental Impact - The new facility is expected to reduce the carbon footprint of road construction materials by up to 50%, showcasing the company's commitment to innovation and addressing critical environmental challenges [4] - SteelPhalt offers a circular economy solution for steel industry byproducts, producing high-quality asphalt without the use of natural aggregates [7] Company Background - SteelPhalt has been developing high-performance asphalt products for roadmaking in the UK since the 1960s, with a focus on sustainability and innovation [5] - Harsco Environmental operates at over 130 customer sites across more than 32 countries, providing environmentally viable solutions for the treatment and reuse of production co-products in the metals industry [6]

Core Insights - Enviri (NYSE: NVRI) faced increasing challenges throughout 2024, impacting its operational environment and overall performance [1] Company Overview - Enviri is categorized as an environmental services company, which had initially positioned itself well at the beginning of 2024 but encountered a deteriorating operational landscape as the year progressed [1]

Revenue Performance - Total revenues for 2024 were $2,342.6 million, a decrease of $23.4 million or 1.0% compared to 2023[169] - Harsco Environmental segment reported revenues of $1,111.5 million, down 2.6% from $1,140.9 million in 2023[169] - Clean Earth segment achieved revenues of $939.8 million, an increase of 1.2% from 928.3 million in 2023[169] - Harsco Rail segment revenues decreased by 1.9% to $291.3 million from $296.8 million in 2023[169] - Total revenues for 2024 decreased by $23.4 million, or 1%, to $2,342.6 million compared to 2023[185] Operating Income and Margins - Operating income from continuing operations was $31.7 million, a decline of 60.3% from $79.9 million in 2023[171] - Harsco Environmental's operating margin fell to 2.9% in 2024 from 6.8% in 2023[172] - Clean Earth segment's operating margin improved to 9.8% from 8.3% in 2023[172] - Harsco Rail segment reported an operating loss margin of (19.9)%, worsening from (10.7)% in 2023[172] Expenses and Impairments - Cost of services and products sold for 2024 decreased by $13.5 million, or 1%, to $1,902.6 million compared to 2023[186] - Selling, general and administrative expenses increased by $5.4 million, or 2%, to $359.4 million in 2024, driven by higher professional fees[187] - The company recorded impairment charges totaling $15.9 million related to goodwill and intangible assets in 2024[189] - The company recognized $23.4 million of impairment charges related to property, plant, and equipment in 2024[192] - A goodwill impairment charge of $13.0 million was recognized for the Harsco Rail reporting unit in 2024[265] - An impairment charge of $13.9 million was recognized for property, plant, and equipment in 2024 due to lower projections[270] - The Company recorded an additional forward loss provision of $32.7 million for long-term contracts in 2024, primarily due to material and labor cost inflation[279] Net Loss and Taxation - The company experienced a net loss of $122.7 million in 2024, compared to a net loss of $88.1 million in 2023[184] - The effective income tax rate from continuing operations was (16.8)% in 2024, compared to (58.6)% in 2023[184] - Income tax expense from continuing operations decreased to $17.1 million in 2024 from $30.9 million in 2023, with an effective tax rate of (16.8)% compared to (58.6)% in 2023[208] - The Company's annual effective income tax rate on income from continuing operations was (16.8)% for 2024, (58.6)% for 2023, and (2.9)% for 2022[285] Cash Flow and Financing Activities - Net cash provided by operating activities was $78.1 million in 2024, down $36.4 million from $114.4 million in 2023, attributed to lower cash net income and unfavorable changes in net working capital[215] - Net cash used by investing activities was $34.1 million in 2024, a decrease of $82.5 million compared to $116.6 million in 2023, including net proceeds of $57.6 million from divestitures[217] - Net cash used by financing activities was $63.4 million in 2024, contrasting with net cash provided of $44.8 million in 2023, including net repayments of $39.8 million of total debt[218] - The Company expects annual interest payments on long-term debt to be approximately $85 million based on current borrowings and interest rates[220] Debt and Credit Facilities - The company amended its Credit Agreement to adjust covenants, setting the Net Debt to Consolidated Adjusted EBITDA ratio to 4.75x for the quarters ended December 31, 2024, and March 31, 2025[164] - The Company entered into an amendment to the Senior Secured Credit Facilities, adjusting the Net Debt to Consolidated Adjusted EBITDA ratio covenant to 4.75x for Q1 2025[225] - The net debt to consolidated adjusted EBITDA ratio covenant is set at 4.75x for the quarter ended September 30, 2024, decreasing to 4.00x thereafter[227] - As of December 31, 2024, the outstanding balance under the Revolving Credit Facility was $407.0 million, with available credit of $238.2 million[233] Goodwill and Fair Value - The Company's Goodwill balances were $739.8 million and $781.0 million at December 31, 2024 and 2023, respectively[260] - The Harsco Environmental reporting unit's estimated fair value was approximately 22.0% more than its net book value, with a goodwill of $360.5 million[266] - The Clean Earth reporting unit's estimated fair value was approximately 53.0% more than its net book value, with a goodwill of $379.3 million[267] - The Company performed its annual goodwill impairment test as of October 1, with no impairment in 2023 but a charge in 2024[265] - The Company utilizes a discounted cash flow model to estimate the fair value of reporting units, with significant assumptions impacting the results[263] Tax Assets and Liabilities - Valuation allowances related to deferred tax assets were $192.7 million for 2024 and $177.9 million for 2023, primarily due to pension liabilities, net operating losses, and disallowed interest expense[288] - Unrecognized tax benefits were $1.8 million for 2024 and $2.1 million for 2023, excluding accrued interest and penalties[289] - The Company recorded a $15.0 million valuation allowance increase related to disallowed interest expense for 2024[288] - The Company considers future reversals of existing deferred tax liabilities and projected future taxable income when assessing deferred tax assets[287] Other Financial Commitments - The Company has $211.1 million of outstanding purchase commitments, with $131.5 million expected to be fulfilled in the next twelve months[220] - Total commercial commitments amounted to $451.8 million as of December 31, 2024, with $305.8 million due within one year[222] - The Company has centralized cash management systems, with $88.0 million in cash and cash equivalents held by non-U.S. subsidiaries as of December 31, 2024[241]

Q4 2024 Quarterly Results and Outlook Conference Call February 20, 2025 © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 1 ADMINISTRATIVE ITEMS Conference Call and Access to Information More information on Enviri's quarterly earnings, including the Company's earnings press release issued today and this presentation, is available on the Investor Relations portion of Enviri's website. Company management will discuss the ...

Financial Data and Key Metrics Changes - For the full year 2024, Enviri reported revenues of $2.3 billion and adjusted EBITDA of $319 million, marking a 4% year-on-year increase or an 11% increase on an organic basis, the highest adjusted EBITDA in ten years [25][9] - Free cash flow for the year was a negative $34 million, primarily due to cash usage for large engineer-to-order projects in the rail business and delayed collections [27][34] - The covenant net leverage ratio at the end of 2024 improved to 4.07 times [28] Business Line Data and Key Metrics Changes - Clean Earth delivered record earnings and margins, with adjusted EBITDA in 2024 more than double its earnings in 2021, and cash earnings, profit margins, and free cash flow were each two times higher than at the time of acquisition [10][26] - Harsco Environmental's revenues totaled $240 million in Q4, with an organic decline of 4% due to lower service levels from weaker steel production [37] - Rail revenues totaled $77 million in Q4, with adjusted EBITDA of $2 million, reflecting lower aftermarket sales and a less favorable business mix [43] Market Data and Key Metrics Changes - The global steel industry faced significant challenges, with low production levels and site closures impacting Harsco Environmental's performance [14][38] - Steel production was weakest in Europe, North America, and the Middle East, with mill utilization below 73% in Q4 [39] Company Strategy and Development Direction - The company aims to shift its portfolio towards a specialty waste business with higher growth rates and healthy cash flow conversion, with Clean Earth's contribution to consolidated EBITDA growing from 25% to over 50% [11][12] - Enviri plans to increase growth-oriented capital spending in Clean Earth due to meaningful opportunities, while also considering divesting the rail business to reduce financial leverage [20][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the global steel industry but expressed confidence in the company's ability to manage through cycles and improve cash flow in 2025 [15][21] - For 2025, adjusted EBITDA is expected to be within a range of $305 to $325 million, with Clean Earth's EBITDA projected to grow double digits, offset by Harsco Environmental's decline [51][57] Other Important Information - The company is refreshing its board with expertise in core markets and portfolio strategy, nominating Nick Fanadakis, former CFO of DuPont, to the board [23] - Adjusted diluted loss per share for Q4 was four cents, excluding special items totaling $90 million [32] Q&A Session Summary Question: Clean Earth's volume performance in 2024 - Management noted that volume churn among top retail accounts in 2024 should turn into a tailwind for 2025, expecting a 4-5% volume lift in industrial markets [64][66] Question: Harsco Environmental's contract downside protection - Management indicated that they are likely at the bottom in terms of volume at most plants, with site closures being the bigger impact [68] Question: Clean Earth's IT and facility improvements - Management reported being over halfway through a two-and-a-half-year IT harmonization program and expects high returns from facility investments [73][78] Question: Rail's incremental costs and delivery timelines - Management stated that risk will dissipate significantly once the first vehicle in the series is delivered, which is expected in 12-15 months [81][83] Question: Steel production assumptions for 2025 guidance - Management expects volume growth in India, the Middle East, and Africa, with flat production in other regions [90] Question: PFAS opportunities in Clean Earth - Management is currently treating PFAS-contaminated wastewater and is well-positioned for future opportunities, but no substantial revenue is built into the 2025 plan [96][97] Question: Rail's 2025 cadence - Management suggested spreading the production plan evenly throughout the year for modeling purposes [100]

PHILADELPHIA, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE:NVRI) is issuing new dial-in information for today's conference call. The call will be postponed until 9:15 a.m. ET. Those who wish to listen to the conference call webcast should visit the Investor Relations section of the Company's website at www.enviri.com. The live call also can be accessed using the below dial-in details. Please ask to join the Enviri Corporation call. Listeners are advised to dial in approximately ten minutes pri ...

Enviri Corporation Reports Fourth Quarter and Full Year 2024 Results • Fourth quarter revenues totaled $559 million; GAAP consolidated loss from continuing operations of $82 million • Adjusted EBITDA in Q4 totaled $70 million, an increase of 5% over the prior-year quarter on an organic basis (adjusted for foreign exchange translation and divestiture impacts) • Net cash provided by operating activities of $36 million and adjusted free cash flow of $8 million in Q4 • Full year 2024 revenues increased 3% on an ...