Core Insights - Clean Harbors, Inc. (CLH) reported mixed second-quarter 2025 results, with earnings exceeding the Zacks Consensus Estimate but revenues falling short [1][8] - The stock price remained relatively stable despite the earnings beat, indicating limited market reaction [1][8] Financial Performance - CLH's earnings per share (EPS) were $2.36, surpassing the Zacks Consensus Estimate by 1.3% but down 4.1% year-over-year [2][8] - Total revenues reached $1.5 billion, missing the consensus estimate by 2% and showing a slight year-over-year decline [2][8] Segment Analysis - Environmental Services (ES) revenues were $1.3 billion, reflecting a 2.5% increase from the previous year, driven by the HEPACO acquisition and higher pricing [3] - Safety-Kleen Sustainability Solutions (SKSS) revenues totaled $219.7 million, a decline of 13.9% year-over-year, attributed to lower base oil prices due to weak demand [3] Profitability Metrics - Adjusted EBITDA was $336.2 million, a 2.6% increase from the prior year, exceeding estimates [4] - The adjusted EBITDA margin improved to 21.7%, up 60 basis points year-over-year [4] - Segment-wise, adjusted EBITDA for ES was $376.2 million, a 4.5% year-over-year increase, while SKSS saw a 25.6% decline to $38.3 million [4] Balance Sheet and Cash Flow - At the end of the quarter, CLH had cash and cash equivalents of $600.2 million, up from $489.4 million in the previous quarter [5] - Long-term debt remained stable at $2.8 billion, with net cash from operating activities at $208 million and capital expenditures of $90 million [6] 2025 Guidance - For 2025, CLH updated its adjusted EBITDA guidance to a range of $1.16-$1.20 billion, while adjusted free cash flow is expected to be between $430-$490 million [7]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $562 million, down approximately 6% on an organic basis compared to the previous year [19][23] - Adjusted EBITDA for the quarter was $65 million, with adjusted diluted loss per share at $0.22, excluding unusual items [19][23] - Adjusted free cash flow for the quarter was a negative $14 million, expected to improve in Q3 and Q4 [25][33] Business Line Data and Key Metrics Changes - Clean Earth reported revenues of $246 million, up 4% year-over-year, with adjusted EBITDA reaching $25 million, up 5% [27] - Harsco Environmental's revenues totaled $258 million with adjusted EBITDA of $40 million, impacted by divestitures and lower service levels [25][26] - Rail revenues were $58 million with an adjusted EBITDA loss of $3 million, attributed to lower volumes and unfavorable product mix [29] Market Data and Key Metrics Changes - The U.S. steel market showed a modest uptick in volumes due to added trade protections, but overall volumes remained flat [12][26] - Demand for standard equipment and parts in the Rail segment has slowed considerably, with year-to-date orders down more than 30% [14][30] Company Strategy and Development Direction - The company is evaluating strategic alternatives to unlock value, including a potential sale or separation of the Clean Earth business [7][8] - Focus on stabilizing the Rail segment while continuing to invest in new service capabilities and building a strong business pipeline in Clean Earth [8][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for improved results in the second half of the year, particularly in Harsco Environmental due to new sites and cost reduction initiatives [12][54] - The company has lowered its outlook for the year due to challenges in the Rail segment, but remains optimistic about the overall earnings and cash flow potential [17][33] Other Important Information - The company is undergoing a formal evaluation of its business portfolio with the assistance of advisors, focusing on options that may unlock value sooner [8][9] - Adjustments in forward loss provisions at Harsco Rail were primarily due to revisions in estimated costs to complete contracts [63] Q&A Session Summary Question: Is the reduced outlook driven entirely by Rail? - The reduction in outlook for EBITDA and free cash flow is entirely due to the reduction in Rail, stemming from demand and market issues [39][40] Question: What is the impact of tariffs on Clean Earth? - No direct impact from tariffs has been observed; volume trends in the hazardous waste business remain strong [42] Question: What is driving the expected improvement in Harsco Environmental margins? - New sites ramping up and cost reduction initiatives are expected to contribute to margin improvement in the second half of the year [54] Question: How long do down cycles in Rail typically last? - The current down cycle is expected to be shorter-lived, as it is not indicative of a recession but rather a temporary cutback in spending by customers [56] Question: What prompted the Board to consider strategic options now? - The persistent discount to the sum of parts value and increased confidence in potential outcomes prompted the strategic review [61][62] Question: Can you provide details on the forward loss provisions at Harsco Rail? - The charges relate to Network Rail and SBB, with adjustments based on revised cost estimates to complete contracts [63]

Q2 2025 Performance Highlights - Backlog reached a record high of $688 million, a 76% increase year-over-year[6] - Orders hit a record of $274 million, resulting in a book-to-bill ratio of approximately 1.5x[6] - Revenue increased by 35% year-over-year to $185 million, exceeding consensus estimates[6] - Adjusted EBITDA was $23.3 million, also above consensus estimates[6] - Adjusted EPS was $0.24, in line with consensus estimates[6] H1 2025 Results and Outlook - H1 Bookings were approximately $502 million, up 76% year-over-year, with a book-to-bill ratio of approximately 1.4x[10] - H1 Revenue was approximately $362 million, a 37% increase year-over-year[10] - The company is updating its FY2025 revenue outlook to $725 million - $775 million, reflecting an approximate $25 million increase[11] - The company maintains its Adjusted EBITDA outlook at $90 million - $100 million, expecting an approximate 50% year-over-year increase[11] Financial Metrics - Q2 2025 Orders increased by 95% year-over-year to $274 million[16] - Trailing Twelve Months (TTM) Orders increased by 58% to $883 million[16] - Q2 2025 Adjusted EBITDA increased by 45% year-over-year to $23.3 million[16] - Q2 2025 Revenue increased by 35% year-over-year to $185 million[16]

Core Insights - Enviri Corporation released its 2024 Environmental, Social, and Governance (ESG) Report, showcasing its commitment to sustainability and innovation in environmental solutions [1][3] - The report emphasizes the integration of Enviri's core values into its ESG strategy, which aims to meet stakeholder expectations for environmental responsibility [2] Environmental Initiatives - Enviri's Clean Earth division reused 85 million gallons of wastewater and recycled nearly 500 metric tons of solar panels in 2024 [2] - The company recycled or reused over 16 million metric tons of waste across its divisions, with Clean Earth achieving a 91% recycling rate for specialty waste materials processed [5] Performance Metrics - Enviri improved its Total Recordable Incident Rate (TRIR) to below 1.0 in 2024, marking a 12% improvement from 2023 [2] - The Clean Earth division achieved a 99% on-time pickup service rate, reflecting the company's focus on customer satisfaction and operational excellence [2] Community Engagement - Harsco Environmental, a division of Enviri, donated 40,000 tons of steel slag for sustainable road improvement in Latin America [2] - The company fosters an inclusive workplace by investing in career development and supporting employee resource groups [2] Reporting Standards - The 2024 ESG Report aligns with leading sustainability reporting standards, including the Global Reporting Initiative and the Sustainability Accounting Standards Board [3]

Core Viewpoint - CECO Environmental Corp. reported record financial results for Q2 2025, driven by a 95% increase in orders year-over-year and a significant rise in backlog and revenue, indicating strong demand in environmental solutions markets [4][6][8]. Financial Performance - Orders reached $274.1 million, up 95% compared to the same quarter last year [8]. - Backlog increased to $688 million, reflecting a 76% year-over-year growth [4][8]. - Revenue for the quarter was $185.4 million, a 35% increase from Q2 2024 [8]. - Operating income was $18.1 million, up from $9.3 million in the prior year [4][8]. - Non-GAAP operating income was $18.3 million, representing a 45% increase from $12.6 million in Q2 2024 [4][8]. - Net income for the quarter was $9.5 million, compared to $4.5 million in Q2 2024 [4][8]. - Adjusted EBITDA was $23.3 million, up 45% from $16.1 million in the same quarter last year [4][8]. Guidance and Outlook - The company raised its full-year revenue outlook to between $725 million and $775 million, a 35% increase at the midpoint compared to previous guidance [6][7]. - Adjusted EBITDA is expected to remain between $90 million and $100 million for the full year [6]. - The sales pipeline is robust at $5.5 billion, supporting strong demand across various sectors including power generation and water infrastructure [7]. Market Position and Strategy - CECO's diverse portfolio in environmental solutions is gaining traction in key markets and new geographies [4]. - The company is focused on capitalizing on mega-theme opportunities in energy transition and infrastructure projects [4][5]. - The highest-ever gross margins and expanded income margins were achieved while maintaining investments in growth and efficiency [5].

As filed with the Securities and Exchange Commission on July 28, 2025 Registration No. 333-286850 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Safe & Green Holdings Corp. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 5030 95-4463937 (Primary Standard Industrial Classification Code Number) 990 Biscayne Blvd., Suite 501 Miami, Florida 3313 ...

Core Insights - Republic Services achieved a 20% reduction in greenhouse gas (GHG) emissions in 2024 compared to its 2017 baseline, surpassing its interim target of a 10% reduction by 2025 [1] - The company reported significant progress towards its 2030 Sustainability Goals, particularly in Safety, Talent, and Climate Leadership, with metrics exceeding industry benchmarks [3] Sustainability Achievements - The 2024 Sustainability Report highlights the company's advancements in sustainability, including third-party recognitions such as inclusion in Barron's 100 Most Sustainable Companies and Fortune's America's Most Innovative Companies [4] - Republic Services is launching 6 renewable natural gas (RNG) projects and expanding its electric collection fleet to 50 electric vehicles [8] Employee Engagement and Community Impact - The company maintains an industry-leading employee engagement score of 86, indicating strong internal morale and commitment [8] - Republic Services has positively impacted over 5 million people through its community investments [8]

Summary of Conference Call Notes Industry Overview - The focus is on the **China Environment Equities** sector, particularly in the context of utility operations and environmental services. Key Companies Discussed 1. **Everbright Environment (EBE)** 2. **Guangdong Investment (GDI)** 3. **Beijing Enterprises Water (BEW)** Core Insights and Arguments Earnings and Financial Performance - Earnings have been negatively impacted by a slowing construction business and asset impairments, which are expected to persist into 2025 [2][8] - EBE's earnings are projected to decline by **13%** due to asset impairments and reduced construction revenue [9] - GDI is expected to maintain a **65% payout ratio** with a **9% earnings growth**, driven by lower finance costs [9] - BEW's earnings are anticipated to drop by **22%** due to impairments, although a **3% YoY increase in DPS** is expected for 2025 [9] Cash Flow and Dividend Focus - The emphasis is on cash flow quality and dividend sustainability amidst earnings uncertainty [2][8] - EBE is preferred for its improving free cash flow (FCF), which supports a **42% payout ratio** for FY24 [2] - GDI is noted for its defensive cash flow and earnings normalization from a low base in 1H24 [2] - BEW is rated Hold due to a high payout ratio of **97%** in 2024, limiting dividend upside [2] Capital Expenditure (Capex) Trends - Overall capex is expected to decline by **5-20% YoY** in 2025, aligning with reduced construction revenue [3] - GDI and BEW plan to retain/distribute more cash rather than invest, reflecting market saturation [3] - EBE is looking to expand overseas investments, although overall capex will remain disciplined [3] Financial Estimates and Revisions - EBE's revenue estimates for 2025 have been revised to **HKD 30,417 million**, with a net profit of **HKD 4,091 million** [16] - GDI's revenue for 2025 is estimated at **HKD 18,233 million**, with a net profit of **HKD 4,478 million** [19] - BEW's revenue is projected at **RMB 6,000 million** for 2025, with a net profit of **RMB 1,678 million** [10] Valuation and Target Prices - EBE's target price has been increased to **HKD 4.50**, implying a **10% upside** [18][25] - GDI's target price is set at **HKD 7.30**, reflecting a **7% upside** [21][25] - BEW's target price is adjusted to **HKD 2.60**, indicating a **0.4% downside** [24][25] Additional Important Insights - The hazardous waste treatment sector is under pressure, leading to potential further asset impairments for companies like EBE [13] - The report highlights the importance of monitoring dividend policies and cash flow quality as key investment criteria [2][8] - The overall sentiment in the sector is cautious, with a focus on cash management and dividend sustainability amidst challenging market conditions [8][14]

Core Viewpoint - The article emphasizes the transformative impact of AI and the new energy revolution on the manufacturing industry, highlighting the importance of firsthand experience in identifying investment opportunities in this rapidly evolving sector [1]. Group 1: Industry Insights - The article discusses the upcoming "Shenzhen New Energy + Intelligent Manufacturing Industry Chain Deep Dive" event, which aims to explore leading companies in the new energy and manufacturing sectors, including BYD, Yuhua Tian, and Feirongda [1]. - It highlights the significance of being at the forefront of the industry, where opportunities are abundant for those willing to explore and engage directly with transformative enterprises [1]. - The article mentions BYD as a major player, selling over 6 million electric vehicles annually and controlling the entire supply chain from lithium mining to chips and energy storage [1]. Group 2: Technological Advancements - The article describes the AI command center of a leading urban service company, showcasing real-time data from over 100,000 sanitation devices and the impact of AIoT on the environmental industry [2]. - It also touches on advanced electronic cooling technologies, specifically a 0.3mm carbon-based material that manages heat from AI servers, emphasizing its critical role in the supply chain for new energy vehicles [3]. Group 3: Expert Engagement - The event will feature industry experts and investment professionals who will provide insights into industry trends and potential investment opportunities [4][5]. - A high-end closed-door dinner will facilitate deeper discussions and sharing of cutting-edge insights among participants [5].

Core Viewpoint - Enviri Corporation will release its second quarter 2025 earnings results on August 5, 2025, before the NYSE market opens, and will host a conference call that morning at 9:00 a.m. ET [1][3]. Group 1 - The earnings results announcement is scheduled for August 5, 2025, prior to market opening [1]. - The quarterly conference call and webcast will begin at 9:00 a.m. ET on the same day [1]. - Investors can access the conference call via the company's website or by dialing in approximately ten minutes before the call [2][3]. Group 2 - Enviri Corporation is a global leader in environmental services, focusing on recycling and reuse solutions to help customers meet sustainability goals [3]. - The company operates in over 150 locations across more than 30 countries [3]. - Enviri is based in Philadelphia, Pennsylvania, and aims to address complex environmental challenges for its diverse customer base [3].