Core Insights - Brightline Capital Management, LLC has completely exited its position in Enviri, selling 1,400,000 shares, resulting in a total position valuation decrease of $17.77 million [2][8] - Enviri's shares have increased by 110.2% over the past year, significantly outperforming the S&P 500 by 97.25 percentage points [8][10] Company Overview - Enviri is a leading provider of environmental and waste management services, focusing on complex industrial waste challenges and supporting resource recovery and regulatory compliance [6] - The company operates under long-term contracts, generating revenue from service fees, product sales, and value-added processing of industrial waste streams [9] Financial Performance - Enviri reported a total revenue of $575 million in the third quarter, which was essentially flat year over year [11] - The company posted a GAAP loss from continuing operations of $20 million and an adjusted EBITDA of $74 million, down from $85 million a year earlier, with an adjusted EBITDA margin decrease to 12.9% from 14.8% [11] - Full-year guidance has been lowered, with expectations of $268 million to $278 million in adjusted EBITDA and negative free cash flow of $20 million to $30 million [11] Investment Implications - The exit from Enviri by Brightline Capital Management may reflect a strategic shift towards larger positions in more stable companies, given Enviri's shrinking margins and revised outlook [12][13] - The performance of Enviri's stock does not align with its operating momentum, indicating that locking in gains can be a strategic decision in light of negative cash flow and lowered guidance [13]

Company Performance - Enviri (NVRI) ended the recent trading session at $19.26, demonstrating a +1.8% change from the preceding day's closing price, outpacing the S&P 500's daily gain of 0.54% [1] - Shares of Enviri had gained 5.7% in the past month, while the Business Services sector lost 6.48% and the S&P 500 gained 0.74% during the same period [1] Earnings Forecast - Enviri's upcoming earnings report is set to be unveiled on February 24, 2026, with projected earnings per share (EPS) of -$0.74, reflecting a 1750% decrease from the same quarter last year [2] - For the entire year, Zacks Consensus Estimates forecast earnings of -$1.22 per share and revenue of $2.23 billion, indicating changes of -1642.86% and 0%, respectively, compared to the previous year [2] Analyst Estimates - Recent changes to analyst estimates for Enviri reflect evolving short-term business trends, with positive estimate revisions indicating analyst optimism about the business and profitability [3] - The Zacks Rank system, which considers estimate changes, provides a simple, actionable rating system for investors [4] Zacks Rank and Industry Performance - Enviri currently possesses a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [5] - The Waste Removal Services industry, part of the Business Services sector, has a Zacks Industry Rank of 152, placing it in the bottom 38% of all 250+ industries [6]

Company Performance - Enviri (NVRI) closed at $18.63, reflecting a -1.06% change from the previous day, underperforming the S&P 500's gain of 0.5% [1] - Over the past month, Enviri's shares have increased by 5.02%, outperforming the Business Services sector's decline of 3.21% and the S&P 500's gain of 0.18% [1] Upcoming Financial Results - Enviri is set to announce its earnings on February 24, 2026, with an expected EPS of -$0.74, indicating a significant drop of 1,750.00% compared to the same quarter last year [2] - For the annual period, the Zacks Consensus Estimates project earnings of -$1.22 per share and revenue of $2.23 billion, reflecting changes of -1642.86% and 0%, respectively, from the previous year [2] Analyst Estimates and Rankings - Recent adjustments to analyst estimates for Enviri are crucial as they reflect short-term business trends, with upward revisions indicating analysts' positive outlook on the company's profitability [3] - The Zacks Rank system, which incorporates estimate changes, currently ranks Enviri at 3 (Hold), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [5] - The Waste Removal Services industry, part of the Business Services sector, has a Zacks Industry Rank of 156, placing it in the bottom 37% of over 250 industries [5]

Core Insights - Enviri Corporation has been recognized in Corporate Knights' 2026 Global 100 Most Sustainable Corporations in the World, marking its first appearance on this prestigious list [1][2] - The company achieved an overall ranking of No. 55 and is positioned as No. 2 in the Commercial Services & Supplies industry, as well as No. 3 in the Waste Management peer group [2][6] - Corporate Knights evaluated 8,229 public companies using a rules-based methodology, introducing a new "sustainable revenue momentum" metric to highlight companies with the fastest growth in sustainable solution sales [3] Company Overview - Enviri is a leading provider of environmental solutions for industrial and specialty waste streams, focusing on reducing waste, recovering materials, and ensuring safe operations for employees and communities [2][4] - The company's sustainability strategy is based on six core values, aiming to help customers manage complex waste streams while minimizing environmental risks and creating shareholder value [4] - Enviri operates in over 150 locations across more than 30 countries, serving a diverse customer base with critical recycling and reuse solutions [5]

Core Viewpoint - Enviri Corporation will release its fourth quarter and full year 2025 earnings results on February 24, 2026, before the NYSE market opens, and will host a conference call that morning [1]. Company Overview - Enviri 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, aiming to help customers address complex environmental challenges and achieve sustainability goals [3]. Conference Call Details - The conference call is scheduled for February 24, 2026, at 9:00 a.m. Eastern Time, 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].

Group 1: Kingdom Capital Advisors Overview - Kingdom Capital Advisors achieved a 17.45% return net of fees in 2025, despite facing significant challenges including a bankruptcy and a cyberattack [1] - The composite return for the fourth quarter was 8.88% net of fees, outperforming the Russell 2000 TR (2.19%), S&P 500 TR (2.68%), and NASDAQ 100 TR (2.47%) [1] Group 2: Enviri Corporation (NYSE:NVRI) Performance - Enviri Corporation closed at $18.29 per share on January 8, 2026, with a one-month return of 0.94% and a 52-week gain of 117.22% [2] - Enviri Corporation had a market capitalization of $1.476 billion and generated revenue of $575 million with an adjusted EBITDA of $74 million in Q3 2025 [4] Group 3: Investment Insights on Enviri Corporation - Enviri Corporation was a top contributor for Kingdom Capital Advisors in Q4 2025, alongside Magnera Corporation [3] - The company is expected to execute a $3 billion sale of Clean Earth, which is anticipated to provide a tax-efficient return of capital distribution [3] - Despite its potential, Kingdom Capital Advisors believes certain AI stocks may offer greater upside potential and less downside risk compared to Enviri Corporation [4]

Core Viewpoint - Enviri Corporation is undergoing significant leadership changes with the retirement of CFO Tom Vadaketh and the appointment of Pete Minan as CFO of New Enviri, coinciding with the planned spin-off into a standalone publicly traded company [1][2][3] Leadership Changes - Tom Vadaketh will retire after the completion of the Clean Earth sale to Veolia Environnement SA, which is expected to finalize in mid-2026 [2][6] - Pete Minan, who has extensive experience in financial management, will take on the role of CFO for New Enviri, bringing a deep understanding of the company's operations [3][5] Spin-off Details - The spin-off of New Enviri is linked to the sale of Clean Earth, and the company is preparing to file a Form 10 registration statement with the U.S. Securities and Exchange Commission [3][6] - Additional leadership team members and the Board of Directors for New Enviri will be announced later [3] Company Overview - Enviri is a global leader in providing environmental services and innovative solutions, operating in over 150 locations across more than 30 countries [4]

Company Performance - Enviri (NVRI) closed at $17.93, reflecting a decrease of -1.59% from the previous trading session, which is less than the S&P 500's daily loss of 0.03% [1] - Over the past month, Enviri's shares have declined by 0.65%, while the Business Services sector gained 6.08% and the S&P 500 increased by 2.57% [1] Earnings Forecast - Enviri is expected to report an EPS of -$0.22, indicating a 450% decline compared to the same quarter last year [2] - For the entire year, the Zacks Consensus Estimates predict earnings of -$0.71 per share and revenue of $0 million, reflecting changes of -914.29% and 0% respectively compared to the previous year [2] Analyst Estimates - Recent adjustments to analyst estimates for Enviri are crucial as they reflect short-term business trends, with upward revisions indicating analysts' positive outlook on the company's operations and profit generation [3] - The Zacks Rank system, which incorporates these estimate changes, provides a rating system for stocks, with Enviri currently holding a Zacks Rank of 3 (Hold) [4][5] Industry Context - The Waste Removal Services industry, part of the Business Services sector, has a Zacks Industry Rank of 92, placing it in the top 38% of over 250 industries [6] - Research indicates that industries in the top 50% rated by Zacks outperform those in the bottom half by a factor of 2 to 1 [6]

Company Overview - Enviri Corporation is a leading provider of environmental solutions for industrial waste streams, focusing on integrated services and value-added products for metals manufacturers and waste generators [5] - The company operates under a dual-segment model, emphasizing long-term contracts and resource recovery, positioning itself as a key player in sustainable waste management and recycling [5] - Enviri serves various sectors, including iron, steel, and metals manufacturers, as well as clients requiring hazardous and non-hazardous waste processing and recycling both domestically and internationally [5] Financial Performance - Enviri reported trailing twelve months (TTM) revenue of $2.2 billion, with a net income of -$162.8 million [4] - The company's stock price as of the latest market close was $17.40, reflecting a 143% increase over the past year, significantly outperforming the S&P 500, which rose by 11% during the same period [3][4] - The adjusted EBITDA for the latest quarter fell to $74 million from $85 million a year earlier, and full-year guidance was revised down to a range of $268 million to $278 million [8] Recent Developments - Vision One Management Partners disclosed a new stake in Enviri Corporation, acquiring 436,911 shares valued at approximately $5.5 million, which represents 3.5% of the fund's $158.9 million in reportable U.S. equity assets [2] - The fund's investment in Enviri is seen as a high-conviction addition during a pivotal time for the company, which is undergoing operational and strategic transitions [6][9] - Enviri's third-quarter results indicated steady revenue but continued GAAP losses and tightening margins, as management navigates divestitures and a strategic alternatives process [6]

Core Viewpoint - Kahn Swick & Foti, LLC is investigating the proposed sale of Enviri Corporation's Clean Earth to Veolia Environnement SA, focusing on whether the cash consideration of $14.50 - $16.50 per share adequately reflects the company's value [1]. Summary by Relevant Sections - **Proposed Transaction Details** - Enviri Corporation shareholders are set to receive cash consideration between $14.50 and $16.50 for each share owned in the proposed sale to Veolia Environnement SA [1]. - **Investigation Purpose** - The investigation aims to determine the adequacy of the cash consideration and the process that led to this valuation, assessing whether it undervalues Enviri Corporation [1].