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enviri(NVRI) - 2024 Q1 - Quarterly Results
2024-05-02 12:02
Exhibit 99.1 Investor Contact Media Contact David Martin Maura Pfeiffer +1.267.946.1407 +1.267.964.1868 dmartin@enviri.com mpfeiffer@enviri.com FOR IMMEDIATE RELEASE ENVIRI CORPORATION REPORTS FIRST QUARTER 2024 RESULTS PHILADELPHIA (May 2, 2024) - Enviri Corporation (NYSE: NVRI) today reported first quarter 2024 results. Revenues in the first quarter of 2024 totaled $600 million, an increase of 7 percent compared with the comparable quarter in 2023. GAAP operating income from continuing operations for the ...
enviri(NVRI) - 2023 Q4 - Earnings Call Presentation
2024-03-01 07:06
• Positive momentum at Clean Earth, highlighted by Veolia disposal agreement and PFAS project with the US DOD Factors that could cause actual results to differ, perhaps materially, from those implied by forward-looking statements include, but are not limited to: (1) the Company's ability to successfully enter into new contracts and complete new acquisitions, divestitures, or strategic ventures in the time-frame contemplated or at all, including the Company's ability to timely divest the Rail business; (2) t ...
enviri(NVRI) - 2023 Q4 - Earnings Call Transcript
2024-02-29 18:40
Enviri Corporation (NYSE:NVRI) Q4 2023 Earnings Conference Call February 29, 2024 9:00 AM ET Company Participants Dave Martin – Vice President-Investor Relations Nick Grasberger – Chairman and Chief Executive Officer Tom Vadaketh – Senior Vice President and Chief Financial Officer Conference Call Participants Rob Brown – Lake Street Capital Markets Michael Hoffman – Stifel Larry Solow – CJS Securities Davis Baynton – BMO Capital Markets Operator Good morning. My name is MJ and I will be the conference facil ...
enviri(NVRI) - 2023 Q4 - Annual Report
2024-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-03970 ENVIRI CORPORATION (Exact name of registrant as specified in its charter) Delaware 23-1483991 (I.R.S. employer identification number) (State or other jurisdiction of incorp ...
enviri(NVRI) - 2023 Q4 - Annual Results
2024-02-28 16:00
Exhibit 99.1 Investor Contact Media Contact David Martin Jay Cooney +1.267.946.1407 +1.267.857.8017 dmartin@enviri.com jcooney@enviri.com FOR IMMEDIATE RELEASE ENVIRI CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS PHILADELPHIA (February 29, 2024) - Enviri Corporation (NYSE: NVRI) today reported fourth quarter 2023 results. On a U.S. GAAP ("GAAP") basis, the fourth quarter of 2023 diluted loss per share from continuing operations was $0.17, after strategic expenses and other unusual items. The ...
enviri(NVRI) - 2023 Q3 - Earnings Call Transcript
2023-11-04 14:24
Enviri Corporation (NYSE:NVRI) Q3 2023 Earnings Conference Call November 2, 2023 9:00 AM ET Company Participants David Martin - Director of Investor Relations Nicholas Grasberger - Chairman, President & CEO Thomas Vadaketh - Senior VP & CFO Conference Call Participants Robert Brown - Lake Street Capital Markets Lawrence Solow - CJS Securities Aadit Shrestha - Stifel Davis Baynton - BMO Capital Markets Operator Good morning, and welcome to the Enviri Corporation Third Quarter 2023 Earnings Conference Call ...
enviri(NVRI) - 2023 Q3 - Quarterly Report
2023-11-01 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-03970 ENVIRI CORPORATION (Exact name of registrant as specified in its charter) Delaware 23-1483991 (State or other ...
enviri(NVRI) - 2023 Q2 - Earnings Call Transcript
2023-08-06 16:52
Financial Data and Key Metrics - Consolidated revenues from continuing operations increased to $520 million, up 8% compared to the prior year quarter, driven by pricing and increased demand in Clean Earth and Harsco Environmental segments [6] - Adjusted EBITDA totaled $78 million, a 58% improvement from the prior year and a 24% sequential improvement, exceeding prior guidance [7] - Net leverage decreased to 4.6x at quarter-end, with expectations to decline to near 4x by year-end before considering asset sales [8] - Free cash flow for the quarter was negative $23 million, impacted by higher cash interest and capital spending, but operating cash flow within Harsco Environmental and Clean Earth was positive [59][60] Business Segment Performance Harsco Environmental (HE) - Segment revenues totaled $290 million, up 6% excluding foreign exchange impact, with adjusted EBITDA reaching $53 million [71] - Despite lower steel production in Europe and Latin America, strength in India and Turkey partially offset the decline [13] - Full-year EBITDA for HE is expected to be modestly above last year, with higher margins and free cash flow generation near $100 million [13] - Steel output at customer sites decreased approximately 6% year-on-year, but operational improvements and other services mitigated the impact [61] Clean Earth - Segment revenues totaled $231 million, up 13% year-over-year, driven by price increases and the Stericycle settlement [72] - Adjusted EBITDA increased $30 million year-on-year, with margins reaching 15% in the quarter [73] - Clean Earth delivered its fourth consecutive quarter of ~12% EBITDA margins, with expectations to progress toward a 15% target [4] - The business is capital-light, with cash flow conversion expected to be roughly 85% of EBITDA [4] Market and Strategic Focus - The company is focusing on PFAS remediation as a significant growth opportunity, leveraging thermal desorption and oxidation technologies [56][57] - Clean Earth's soil and dredge business saw the highest bookings since acquisition, with strong volume and mix improvement potential [40] - The company is actively working on reducing overhead and improving operational efficiency in Clean Earth, targeting a 15% EBITDA margin within 18-24 months [32][33] Management Commentary on Operating Environment and Outlook - Management highlighted strong pricing initiatives and operational efficiencies as key drivers of improved performance [65] - The company raised its full-year adjusted EBITDA guidance to $270-$285 million, up from $260-$275 million, reflecting a 21% year-on-year increase at the midpoint [74] - Management expects continued improvement in cash performance for the remainder of the year [60] Other Important Information - The company initiated the process of selling its Rail segment, with expectations to complete the sale by year-end [51] - The Network Rail contract amendment reduced financial exposure and extended the delivery schedule into 2025 [85] - The Stericycle settlement contributed to the strong Q2 performance, with incremental price increases expected in 2023 and 2024 [27][82] Q&A Session Summary Question: Price Realization in Clean Earth - Management confirmed that price increases implemented in 2022 and early 2023 drove Q2 benefits, with future increases likely to be annual events [37][38] Question: Growth Opportunities in Harsco Environmental - Management highlighted non-steel production-based services as a key growth area, with lower capital requirements and better returns [26] Question: Clean Earth Margin Expansion - Drivers for margin expansion include operating leverage from volume growth, overhead reduction, and a favorable mix shift toward higher-margin soil business [32][33] Question: Stericycle Settlement Impact - The settlement contributed to Q2 performance, with incremental benefits expected in 2023 and 2024 [27][82] Question: Rail Segment Divestiture - The company is focused on reducing risks associated with long-term contracts, including the Network Rail amendment, to facilitate the Rail segment sale [51][85]
enviri(NVRI) - 2023 Q2 - Quarterly Report
2023-08-01 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-03970 ENVIRI CORPORATION (Exact name of registrant as specified in its charter) Delaware 23-1483991 (State or other juri ...
enviri(NVRI) - 2023 Q1 - Earnings Call Transcript
2023-05-07 05:08
Harsco Corporation (HSC) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET Company Participants David Martin - VP of IR Nick Grasberger - Chairman and CEO Pete Minan - SVP and CFO Conference Call Participants Larry Solow - CJS Securities Rob Brown - Lake Street Capital Markets Brian Butler - Stifel Operator Good morning. My name is Sarah, and I will be your conference facilitator. At this time, I would like to welcome everyone to the Harsco Corporation First Quarter Release Conference Call. All lines ...