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enviri(NVRI) - 2025 Q1 - Quarterly Report
2025-05-01 14:19
Revenue Performance - Total revenues for Q1 2025 were $548.3 million, a decrease of 8.7% from $600.3 million in Q1 2024[115]. - Harsco Environmental segment revenues decreased to $243.1 million, down 18.8% from $299.1 million in the prior year, primarily due to divestitures and lost contracts[115][116]. - Clean Earth segment revenues increased to $235.2 million, up 4.1% from $226.0 million in Q1 2024, driven by positive price and volume changes[115][119]. - Harsco Rail segment revenues decreased to $69.9 million, down 7.0% from $75.2 million in Q1 2024, impacted by lower demand and foreign currency translation[115][121]. - Total revenues for the three months ended March 31, 2025 decreased by $52.0 million, or 8.7%, compared to the same period in 2024[127]. Operating Income and Expenses - Consolidated operating income for Q1 2025 was $30.7 million, an increase of 18.9% from $25.8 million in Q1 2024[115]. - The operating margin for the consolidated company improved to 5.6% in Q1 2025, compared to 4.3% in Q1 2024[115]. - Cost of services and products sold decreased by $54.5 million, or 11.4%, for the three months ended March 31, 2025, primarily due to changes in revenue volume and mix, divestitures, and foreign currency translation[128]. - Selling, general and administrative expenses increased by $2.0 million, or 2.3%, for the three months ended March 31, 2025, mainly due to higher professional fees and compensation costs[129]. - Loss from continuing operations was $11.0 million for the three months ended March 31, 2025, an improvement from a loss of $15.7 million in the same period in 2024[137]. Cash Flow and Financing Activities - Net cash provided by operating activities was $6.6 million for the three months ended March 31, 2025, an increase of $5.3 million from the prior year[141]. - Net cash used by investing activities was $18.4 million for the three months ended March 31, 2025, a decrease of $4.8 million from the same period in 2024[142]. - Net cash provided by financing activities increased by $13.2 million to $26.1 million for the three months ended March 31, 2025, primarily due to higher net borrowings[143]. - The Company received $10.0 million in proceeds from the AR Facility during the three months ended March 31, 2025, compared to no proceeds in the same period of 2024[150]. - The AR Facility has a maximum purchase commitment of $160.0 million, increased from $150.0 million under amended terms in February 2025[149]. Debt and Compliance - The company's total debt as of March 31, 2025 was $1,393.3 million, an increase from $1,364.5 million at the end of 2024[146]. - The net debt to consolidated adjusted EBITDA ratio covenant is set at 4.75x for the quarter ended March 31, 2025[147]. - As of March 31, 2025, the total net debt to Consolidated Adjusted EBITDA ratio was 4.31x, below the permitted maximum of 4.75x, and the total interest coverage ratio was 3.03x, above the permitted minimum of 2.50x[148]. - The Company could increase net debt by $142.4 million while remaining compliant with debt covenants, or Consolidated Adjusted EBITDA could decrease by $30.0 million, or interest expense could increase by $22.4 million without breaching covenants[148]. Other Financial Metrics - A favorable net change in forward estimated loss provisions of $11.1 million was recorded in Q1 2025, related to long-term contracts, with no such adjustment in the prior year[125]. - The company faced a $4.0 million increase in severance and related costs due to restructuring activities in Q1 2025 compared to the same period in 2024[118]. - Total other comprehensive income was $8.7 million for the three months ended March 31, 2025, compared to a loss of $7.7 million in the same period in 2024[138]. Cash Management and Market Risks - At March 31, 2025, the Company's consolidated cash and cash equivalents included $101.2 million held by non-U.S. subsidiaries, with approximately 4.8% subject to regulatory restrictions[152]. - Non-U.S. subsidiaries held $28.7 million of cash and cash equivalents in consolidated strategic ventures, which may require partner approval for fund transfers[152]. - The Company has centralized cash management systems to reduce short-term borrowings and finance working capital needs[151]. - Market risks have not changed significantly from those disclosed in the Company's Annual Report for the fiscal year ended December 31, 2024[154]. Regulatory and Tariff Impacts - The company is assessing the impact of new tariffs imposed by the U.S. government and the European Union on its operations[112].
enviri(NVRI) - 2025 Q1 - Earnings Call Transcript
2025-05-01 13:00
Enviri (NVRI) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Speaker0 everyone to the Enviro Corporation First Quarter twenty twenty five Release Conference Call. All lines have been placed on mute to avoid any background noise. After the speakers' remarks, there will be a question and answer period. Also, this telephone conference presentation and accompanying webcast made on behalf of Enviary Corporation are subject to copyright by Enviary Corporation and all rights are reserved. No recordings or redistri ...
enviri(NVRI) - 2025 Q1 - Earnings Call Presentation
2025-05-01 12:17
Q1 2025 Quarterly Results and Outlook Conference Call May 1, 2025 © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 1 ADMINISTRATIVE ITEMS 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 Company's financial performance during a confere ...
enviri(NVRI) - 2025 Q1 - Quarterly Results
2025-05-01 12:06
Exhibit 99.1 Investor Contact Media Contact +1.267.946.1407 +1.717.480.6145 David Martin Karen Tognarelli dmartin@enviri.com ktognarelli@enviri.com FOR IMMEDIATE RELEASE Enviri Corporation Reports First Quarter 2025 Results PHILADELPHIA (May 01, 2025) - Enviri Corporation (NYSE: NVRI) (the "Company") today reported first quarter 2025 results. Revenues in the first quarter of 2025 totaled $548 million, and on a U.S. GAAP ("GAAP") basis, the consolidated loss from continuing operations was $11 million. Q1 Adj ...
Enviri Corporation Reports First Quarter 2025 Results
GlobeNewswire· 2025-05-01 11:00
Core Insights - Enviri Corporation reported first quarter 2025 revenues of $548 million, a decrease of 9% compared to the same quarter in 2024, which had revenues of $600 million [4][6] - The company experienced a GAAP consolidated loss from continuing operations of $11 million in Q1 2025, an improvement from a loss of $16 million in Q1 2024 [4][6] - Adjusted EBITDA for Q1 2025 was $67 million, down from $78 million in the prior year, but exceeded the company's guidance of $57 million to $63 million [5][6] Financial Performance - The diluted loss per share from continuing operations on a GAAP basis was $0.15 in Q1 2025, compared to $0.21 in Q1 2024 [2][4] - Adjusted diluted loss per share from continuing operations was $0.18 in Q1 2025, significantly higher than the adjusted loss of $0.03 in the same quarter of 2024 [2][4] - The company reaffirmed its 2025 Adjusted EBITDA guidance range of $305 million to $325 million and free cash flow outlook of $30 million to $50 million [5][12] Segment Performance - Harsco Environmental reported revenues of $243 million in Q1 2025, down from $299 million in Q1 2024, with an adjusted EBITDA of $39 million compared to $49 million in the prior year [7][8] - Clean Earth achieved revenues of $235 million, a 4% increase from $226 million in Q1 2024, with adjusted EBITDA rising to $38 million from $34 million [8][9] - Harsco Rail's revenues decreased to $70 million from $75 million year-over-year, with an adjusted EBITDA loss of $2 million compared to a profit of $2 million in the prior year [9][10] Cash Flow and Outlook - Net cash provided by operating activities was $7 million in Q1 2025, an increase from $1 million in the prior year [11] - Adjusted free cash flow was $(13) million in Q1 2025, an improvement from $(17) million in Q1 2024 [11] - The company anticipates that economic conditions will remain stable for the remainder of 2025, despite elevated economic uncertainty [12][13]
Enviri Corporation Announces Results of 70th Annual Meeting of Stockholders
GlobeNewswire· 2025-04-28 17:00
PHILADELPHIA, April 28, 2025 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) announced the results of its 70th Annual Meeting of Stockholders, held virtually on April 24. Stockholders approved the election of all eight nominees to the Board of Directors to serve until the 2026 Annual Meeting of Stockholders and ratified the Audit Committee’s appointment of Deloitte as Independent Auditors for the year ending December 31, 2025. The Company’s stockholders also approved the compensation of the Company’s na ...
Enviri Corporation Announces Gary Lada as President of Harsco Rail
Newsfilter· 2025-04-21 18:30
COLUMBIA, S.C., April 21, 2025 (GLOBE NEWSWIRE) -- Harsco Rail, a division of Enviri Corporation (NYSE:NVRI), today announced Gary Lada as its new president of Harsco Rail, effective May 5, 2025. Lada will replace Claus Heuschmid, who will leave the organization effective June 1, 2025. "Gary's extensive experience in the Rail industry and his proven track record of operational excellence make him the ideal leader to drive our division forward," said Enviri CEO Nick Grasberger. "His leadership will be instru ...
Enviri Corporation Announces Timing of First Quarter 2025 Results and Conference Call
Newsfilter· 2025-04-14 12:00
PHILADELPHIA, April 14, 2025 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE:NVRI) today announced that it will issue its first quarter 2025 earnings results on Thursday, May 1, 2025 prior to NYSE market open. The Company will also host its quarterly conference call and webcast that morning beginning at 9:00 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 d ...
Clean Earth Rolls Out New Fleet Nationwide, Enhancing Sustainability and Service Efficiency
Newsfilter· 2025-04-08 12:00
New trucks feature innovative modular design and technology-driven advancements, enhancing safety, compliance, and customer service. KING OF PRUSSIA, Pa., April 08, 2025 (GLOBE NEWSWIRE) -- Clean Earth, a division of Enviri Corporation (NYSE:NVRI) and a leading provider of environmental and regulated waste management services, announced the recent deployment of a new fleet of 132 Class 7 and Class 8 straight trucks across the U.S. and U.S. territories. The fleet's advanced features reduce environmental impa ...
Enviri (NVRI) Stock Falls Amid Market Uptick: What Investors Need to Know
ZACKS· 2025-03-21 23:20
In the latest market close, Enviri (NVRI) reached $6.75, with a -0.15% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 0.52%.Shares of the industrial services company have depreciated by 10.58% over the course of the past month, underperforming the Business Services sector's loss of 9.22% and the S&P 500's loss of 7.33%.The investment community will be closely monitoring the perfo ...