• Enviri Corporation Reports Third Quarter 2024 Results

    Источник: Nasdaq GlobeNewswire / 31 окт 2024 06:00:01   America/Chicago

    • Third quarter revenues totaled $574 million; organic growth in the quarter was 1%
    • Q3 GAAP operating income of $37 million
    • Adjusted EBITDA in Q3 totaled $85 million, an increase of 3% over the prior-year quarter
    • Completed sale of Reed Minerals, enabling Company to surpass 2024 asset sales goal of $50 to $75 million
    • Refinanced revolving credit and accounts receivable securitization facilities, enhancing financial flexibility
    • 2024 Adjusted EBITDA now expected to be within range of $317 million and $327 million; mid-point lowered 3% to reflect sale of Reed Minerals and other factors

    PHILADELPHIA, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) today reported third quarter 2024 results. Revenues in the third quarter of 2024 totaled $574 million. GAAP operating income from continuing operations for the third quarter of 2024 was $37 million and Adjusted EBITDA was $85 million, an increase of 3% over the prior-year quarter.

    On a U.S. GAAP ("GAAP") basis, the third quarter of 2024 diluted loss per share from continuing operations was $0.15, including the impact of the Reed Minerals sale, certain Harsco Rail contract adjustments and other unusual items. The adjusted diluted loss per share from continuing operations in the third quarter of 2024 was $0.01. These figures compare with third quarter of 2023 GAAP diluted loss per share from continuing operations of $0.12, after strategic expenses, an accounts receivable provision, and other unusual items, and adjusted diluted earnings per share from continuing operations of $0.08.

    “Enviri reported results within our quarterly earnings guidance range, despite market weakness in Harsco Environmental as well as shipment delays and operational challenges within Harsco Rail,” said Enviri Chairman and CEO Nick Grasberger. “Notwithstanding those headwinds, Clean Earth had another standout quarter, achieving record quarterly profits and margins, driven by increased pricing and efficiency improvements. We also successfully executed on a number of key initiatives, including surpassing our 2024 asset sales target with the sale of Reed Minerals and extending our credit facility, providing us with enhanced financial flexibility.”

    “As we look to the end of 2024, we expect the headwinds in Harsco Environmental and Harsco Rail to persist in the short-term, as reflected in our fourth quarter outlook. Our focus remains on controlling what we can control with the help of our talented team by continuing to execute on our growth plan and strategic priorities. These actions are expected to drive meaningful earnings and cash flow increases and enhance value for shareholders over time.”

    Enviri Corporation—Selected Third Quarter Results

    ($ in millions, except per share amounts) Q3 2024 Q3 2023
    Revenues $574  $597 
    Operating income/(loss) from continuing operations - GAAP $37  $29 
    Diluted EPS from continuing operations - GAAP $(0.15) $(0.12)
    Adjusted EBITDA - non-GAAP $85  $82 
    Adjusted EBITDA margin - non-GAAP  14.8%  13.7%
    Adjusted diluted EPS from continuing operations - non-GAAP $(0.01) $0.08 

    Note: Adjusted diluted earnings (loss) per share from continuing operations and Adjusted EBITDA details presented throughout this release are adjusted for unusual items; in addition, adjusted diluted earnings per share from continuing operations is adjusted for acquisition-related amortization expense. See below for definition of these non-GAAP measures and reconciliations to the most directly comparable GAAP financial measures.

    Consolidated Third Quarter Operating Results
    Consolidated revenues from continuing operations were $574 million, or 4% below the prior-year quarter due to business divestitures and foreign currency translation. FX translation negatively impacted third quarter 2024 revenues by approximately $6 million and Adjusted EBITDA by approximately $2 million compared with the prior-year period.

    The Company's GAAP operating income from continuing operations was $37 million for the third quarter of 2024, compared with GAAP operating income of $29 million in the same quarter of 2023. Meanwhile, Adjusted EBITDA totaled $85 million in the third quarter of 2024 versus $82 million in the third quarter of the prior year, an increase of 3%, with this increase driven by Clean Earth performance.

    Third Quarter Business Review

    Harsco Environmental

    ($ in millions) Q3 2024 Q3 2023
    Revenues $279  $286 
    Operating income (loss) - GAAP $33  $18 
    Adjusted EBITDA - non-GAAP $53  $54 
    Adjusted EBITDA margin - non-GAAP  19.0%  18.9%


    Harsco Environmental revenues totaled $279 million in the third quarter of 2024, a decrease of 2% compared with the prior-year quarter. This change is attributable to FX translation, business divestitures and contract exits, partially offset by price increases, growth contracts and higher service levels. Excluding the FX and divestiture impacts, revenue growth was 5%. The segment's GAAP operating income and Adjusted EBITDA totaled $33 million and $53 million, respectively, in the third quarter of 2024. These figures compare with GAAP operating income of $18 million and Adjusted EBITDA of $54 million in the prior-year period. The year-on-year change in adjusted earnings reflects the above-mentioned impacts. As a result, Harsco Environmental's Adjusted EBITDA margin was 19.0% in the third quarter of 2024 versus 18.9% in the comparable quarter of 2023.

    Clean Earth

    ($ in millions) Q3 2024 Q3 2023
    Revenues $237  $239 
    Operating income (loss) - GAAP $27  $21 
    Adjusted EBITDA - non-GAAP $42  $34 
    Adjusted EBITDA margin - non-GAAP  17.5%  14.2%


    Clean Earth revenues totaled $237 million in the third quarter of 2024, a 1% decrease over the prior-year quarter as lower volumes (mainly from Industrial markets) offset higher services pricing. The segment's GAAP operating income was $27 million and Adjusted EBITDA was $42 million in the third quarter of 2024. These figures compare with GAAP operating income of $21 million and Adjusted EBITDA of $34 million in the prior-year period. The year-on-year improvement in adjusted earnings reflects higher pricing, efficiency improvements and lower administrative costs, partially offset by lower volume impacts. As a result, Clean Earth's Adjusted EBITDA margin increased to 17.5% in the third quarter of 2024 versus 14.2% in the comparable quarter of 2023.

    Harsco Rail

    ($ in millions) Q3 2024 Q3 2023
    Revenues $58  $72 
    Operating income (loss) - GAAP $(14) $(1)
    Adjusted EBITDA - non-GAAP $(2) $2 
    Adjusted EBITDA margin - non-GAAP  (4.3)%  2.6%


    Harsco Rail revenues totaled $58 million in the third quarter of 2024, a 20% decrease over the prior-year quarter. This change reflects lower volumes of equipment, aftermarket parts and contracted services as well as certain contract loss adjustments relative to the comparable 2023 quarter. Note that certain equipment shipments were delayed to the fourth quarter because of Hurricane Helene's effect on operations. The segment's GAAP operating loss was $14 million and Adjusted EBITDA loss was $2 million in the third quarter of 2024. These figures compare with a GAAP operating loss of $1 million and Adjusted EBITDA of $2 million in the prior-year period. The year-on-year change in adjusted earnings resulted mainly from lower volumes as mentioned above as well as a less favorable product mix.

    Cash Flow
    Net cash provided by operating activities was $1 million in the third quarter of 2024, compared with net cash provided by operating activities of $18 million in the prior-year period. Adjusted free cash flow was $(34) million in the third quarter of 2024, compared with $(7) million in the prior-year period. The change in adjusted free cash flow compared with the prior-year quarter is attributable to the timing of working capital and higher capital spending.

    2024 Outlook
    The Company's 2024 Adjusted EBITDA outlook is updated to reflect the sale of Reed Minerals and lower volumes in Harsco Environmental as well as shipment delays and supply chain and other production challenges that are slowing performance against certain contracts in Harsco Rail, partially offset by an improved outlook for Clean Earth. Guidance for free cash flow has been revised as a result.

    The mid-point of the 2024 Adjusted EBITDA guidance represents a 5% increase, compared with 2023. Key business drivers for each segment as well as other 2024 guidance details are below:

    Harsco Environmental Adjusted EBITDA is projected to be below prior-year results. Currency impacts, business divestitures, exited contracts, lower commodity prices and personnel investments are expected to be partially offset by higher services pricing, site improvement initiatives and higher services volumes at certain sites, including those tied to growth investments and new contracts.

    Clean Earth Adjusted EBITDA is expected to increase versus 2023 as a result of higher services pricing (net of inflation) and efficiency initiatives, offsetting the impacts of a less favorable project-related business mix as well as the 2023 Stericycle settlement not repeating.

    Harsco Rail Adjusted EBITDA is expected to increase versus 2023 as a result of higher demand and pricing for standard equipment offerings, technology products and contracted services, partially offset by lower contributions from aftermarket parts (volume and product mix driven).

    Corporate spending is anticipated to decrease (single-digit percentage) when compared with 2023.

     
    2024 Full Year OutlookCurrentPrior
    GAAP Operating Income$117 - $127 million$128 - $141 million
    Adjusted EBITDA$317 - $327 million$327 - $340 million
    GAAP Diluted Earnings/(Loss) Per Share from Continuing Operations$(0.61) - $(0.72)$(0.42) - $(0.58)
    Adjusted Diluted Earnings/(Loss) Per Share from Continuing Operations$(0.06) - $(0.16)$0.07 - $(0.09)
    Adjusted Free Cash Flow$0 - $(20) million$10 - $30 million
    Net Interest Expense, Excluding Any Unusual Items$108 million$108 - $111 million
    Account Receivable Securitization Fees$11 million$11 million
    Pension Expense (Non-Operating)$17 million$17 million
    Tax Expense, Excluding Any Unusual Items$32 - $34 million$31 - $34 million
    Net Capital Expenditures$120 - $125 million$130 - $140 million
       
    Q4 2024 Outlook   
    GAAP Operating Income$23 - $33 million 
    Adjusted EBITDA$68 - $78 million 
    GAAP Diluted Earnings/(Loss) Per Share from Continuing Operations$(0.09) - $(0.20) 
    Adjusted Diluted Earnings/(Loss) Per Share from Continuing Operations$(0.03) - $(0.14) 
     

    Conference Call

    The Company will hold a conference call today at 9:00 a.m. Eastern Time to discuss its results and respond to questions from the investment community. Those who wish to listen to the conference call webcast should visit investors.enviri.com, or by dialing (833) 630-1956 or (412) 317-1837 for international callers. Please ask to join the Enviri Corporation call. Listeners are advised to dial in approximately ten minutes prior to the call. If you are unable to listen to the live call, the webcast will be archived on the Company’s website.

    Forward-Looking Statements
    The nature of the Company's business, together with the number of countries in which it operates, subject it to changing economic, competitive, regulatory and technological conditions, risks and uncertainties. In accordance with the "safe harbor" provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, the Company provides the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the results contemplated by forward-looking statements, including the expectations and assumptions expressed or implied herein. Forward-looking statements contained herein could include, among other things, statements about management's confidence in and strategies for performance; expectations for new and existing products, technologies and opportunities; and expectations regarding growth, sales, cash flows, and earnings. Forward-looking statements can be identified by the use of such terms as "may," "could," "expect," "anticipate," "intend," "believe," "likely," "estimate," "outlook," "plan," "contemplate," "project," "target" or other comparable terms.

    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 divest the Harsco Rail business in the future; (2) the Company’s inability to comply with applicable environmental laws and regulations; (3) the Company’s inability to obtain, renew, or maintain compliance with its operating permits or license agreements; (4) various economic, business, and regulatory risks associated with the waste management industry; (5) the seasonal nature of the Company's business; (6) risks caused by customer concentration, the long-term nature of customer contracts, and the competitive nature of the industries in which the Company operates; (7) the outcome of any disputes with customers, contractors and subcontractors; (8) the financial condition of the Company's customers, including the ability of customers (especially those that may be highly leveraged or have inadequate liquidity) to maintain their credit availability; (9) higher than expected claims under the Company’s insurance policies, or losses that are uninsurable or that exceed existing insurance coverage; (10) market and competitive changes, including pricing pressures, market demand and acceptance for new products, services and technologies; changes in currency exchange rates, interest rates, commodity and fuel costs and capital costs; (11) the Company's ability to negotiate, complete, and integrate strategic transactions and joint ventures with strategic partners; (12) the Company’s ability to effectively retain key management and employees, including due to unanticipated changes to demand for the Company’s services, disruptions associated with labor disputes, and increased operating costs associated with union organizations; (13) the Company's inability or failure to protect its intellectual property rights from infringement in one or more of the many countries in which the Company operates; (14) failure to effectively prevent, detect or recover from breaches in the Company's cybersecurity infrastructure; (15) changes in the worldwide business environment in which the Company operates, including changes in general economic and industry conditions and cyclical slowdowns; (16) fluctuations in exchange rates between the U.S. dollar and other currencies in which the Company conducts business; (17) unforeseen business disruptions in one or more of the many countries in which the Company operates due to changes in economic conditions, changes in governmental laws and regulations, including environmental, occupational health and safety, tax and import tariff standards and amounts; political instability, civil disobedience, armed hostilities, public health issues or other calamities; (18) liability for and implementation of environmental remediation matters; (19) product liability and warranty claims associated with the Company’s operations; (20) the Company’s ability to comply with financial covenants and obligations to financial counterparties; (21) the Company’s outstanding indebtedness and exposure to derivative financial instruments that may be impacted by, among other factors, changes in interest rates; (22) tax liabilities and changes in tax laws; (23) changes in the performance of equity and bond markets that could affect, among other things, the valuation of the assets in the Company's pension plans and the accounting for pension assets, liabilities and expenses; (24) risk and uncertainty associated with intangible assets; and the other risk factors listed from time to time in the Company's SEC reports. A further discussion of these, along with other potential risk factors, can be found in Part I, Item 1A, “Risk Factors” of the Company’s most recently filed Annual Report on Form 10-K, as updated by subsequent Quarterly Reports on Form 10-Q, which are filed with the Securities and Exchange Commission. The Company cautions that these factors may not be exhaustive and that many of these factors are beyond the Company's ability to control or predict. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The Company undertakes no duty to update forward-looking statements except as may be required by law.

    Non-GAAP Measures
    Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-titled measurements employed by other companies. The most comparable GAAP measures are included within the definitions below and reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are included at the end of this press release.

    Adjusted diluted earnings per share from continuing operations: Adjusted diluted earnings (loss) per share from continuing operations is a non-GAAP financial measure and consists of diluted earnings (loss) per share from continuing operations adjusted for unusual items and acquisition-related intangible asset amortization expense. It is important to note that such intangible assets contribute to revenue generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. The Company’s management believes Adjusted diluted earnings per share from continuing operations is useful to investors because it provides an overall understanding of the Company’s historical and future prospects. Exclusion of unusual items permits evaluation and comparison of results for the Company’s core business operations, and it is on this basis that management internally assesses the Company’s performance. Exclusion of acquisition-related intangible asset amortization expense, the amount of which can vary by the timing, size and nature of the Company’s acquisitions, facilitates more consistent internal comparisons of operating results over time between the Company’s newly acquired and long-held businesses, and comparisons with both acquisitive and non-acquisitive peer companies.

    Adjusted EBITDA: Adjusted EBITDA is a non-GAAP financial measure and consists of income (loss) from continuing operations adjusted to add back income tax expense; equity income of unconsolidated entities, net; net interest expense; defined benefit pension income (expense); facility fees and debt-related income (expense); and depreciation and amortization (excluding amortization of deferred financing costs); and excludes unusual items. Segment Adjusted EBITDA consists of operating income from continuing operations adjusted to exclude unusual items and add back depreciation and amortization (excluding amortization of deferred financing costs). The sum of the Segments’ Adjusted EBITDA and Corporate Adjusted EBITDA equals consolidated Adjusted EBITDA. The Company‘s management believes Adjusted EBITDA is meaningful to investors because management reviews Adjusted EBITDA in assessing and evaluating performance.

    Adjusted free cash flow: Adjusted free cash flow is a non-GAAP financial measure and consists of net cash provided (used) by operating activities less capital expenditures and expenditures for intangible assets; and plus capital expenditures for strategic ventures, total proceeds from sales of assets and certain transaction-related / debt-refinancing expenditures. The Company's management believes that Adjusted free cash flow is important to management and useful to investors as a supplemental measure as it indicates the cash flow available for working capital needs, repay debt obligations, invest in future growth through new business development activities, conduct strategic acquisitions or other uses of cash. It is important to note that Adjusted free cash flow does not represent the total residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements and settlements of foreign currency forward exchange contracts, are not deducted from this measure. This presentation provides a basis for comparison of ongoing operations and prospects.

    Organic growth: Organic growth is a non-GAAP financial measure that calculates the change in Total revenue, excluding the impacts resulting from foreign currency translation, acquisitions, divestitures and certain unusual items. The Company believes this measure provides investors with a supplemental understanding of underlying revenue trends by providing revenue growth on a consistent basis.

    About Enviri
    Enviri is transforming the world to green, as a trusted global leader in providing a broad range of environmental services and related innovative solutions. The company serves a diverse customer base by offering critical recycle and reuse solutions for their waste streams, enabling customers to address their most complex environmental challenges and to achieve their sustainability goals. Enviri is based in Philadelphia, Pennsylvania and operates in more than 150 locations in over 30 countries. Additional information can be found at www.enviri.com.

     
    ENVIRI CORPORATION
    CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)    		    
      Three Months Ended Nine Months Ended
      September 30 September 30
    (In thousands, except per share amounts)  2024   2023   2024   2023 
    Revenues from continuing operations:        
    Service revenues $488,132  $490,791  $1,492,569  $1,434,314 
    Product revenues  85,495   106,177   291,368   332,375 
    Total revenues  573,627   596,968   1,783,937   1,766,689 
    Costs and expenses from continuing operations:        
    Cost of services sold  373,924   377,539   1,154,998   1,120,578 
    Cost of products sold  80,821   93,389   258,227   277,086 
    Selling, general and administrative expenses  89,183   93,513   266,763   262,175 
    Research and development expenses  888   902   2,692   2,441 
    Property, plant and equipment impairment charge  —    —   —   14,099 
    Remeasurement of long-lived assets  —    —   10,695   — 
    Gain on sale of businesses, net  (8,601)  —   (10,478)  — 
    Other expense (income), net  40   2,865   6,600   (4,052)
    Total costs and expenses  536,255   568,208   1,689,497   1,672,327 
    Operating income (loss) from continuing operations  37,372   28,760   94,440   94,362 
    Interest income   981   1,722   6,113   4,796 
    Interest expense  (28,813)  (27,552)  (84,869)  (78,956)
    Facility fees and debt-related income (expense)  (2,978)  (2,806)  (8,687)  (7,899)
    Defined benefit pension income (expense)  (4,257)  (5,430)  (12,599)  (16,159)
    Income (loss) from continuing operations before income taxes and equity income  2,305   (5,306)  (5,602)  (3,856)
    Income tax benefit (expense) from continuing operations  (13,437)  (3,498)  (31,372)  (26,846)
    Equity income (loss) of unconsolidated entities, net  38   (151)  (84)  (593)
    Income (loss) from continuing operations  (11,094)  (8,955)  (37,058)  (31,295)
    Discontinued operations:        
    Income (loss) from discontinued businesses  (1,584)  (1,538)  (4,287)  (4,358)
    Income tax benefit (expense) from discontinued businesses  411   399   1,112   1,131 
    Income (loss) from discontinued operations, net of tax  (1,173)  (1,139)  (3,175)  (3,227)
    Net income (loss)  (12,267)  (10,094)  (40,233)  (34,522)
    Less: Net loss (income) attributable to noncontrolling interests  (901)  (708)  (4,498)  2,756 
    Net income (loss) attributable to Enviri Corporation $(13,168) $(10,802) $(44,731) $(31,766)
    Amounts attributable to Enviri Corporation common stockholders:        
    Income (loss) from continuing operations, net of tax $(11,995) $(9,663) $(41,556) $(28,539)
    Income (loss) from discontinued operations, net of tax  (1,173)  (1,139)  (3,175)  (3,227)
    Net income (loss) attributable to Enviri Corporation common stockholders $(13,168) $(10,802) $(44,731) $(31,766)
             
    Weighted-average shares of common stock outstanding  80,165   79,850   80,085   79,767 
    Basic earnings (loss) per common share attributable to Enviri Corporation common stockholders:
    Continuing operations $(0.15) $(0.12) $(0.52) $(0.36)
    Discontinued operations $(0.01) $(0.01)  (0.04)  (0.04)
    Basic earnings (loss) per share attributable to Enviri Corporation common stockholders $(0.16) $(0.14)(a)$(0.56) $(0.40)
             
    Diluted weighted-average shares of common stock outstanding  80,165   79,850   80,085   79,767 
    Diluted earnings (loss) per common share attributable to Enviri Corporation common stockholders:
    Continuing operations $(0.15) $(0.12) $(0.52) $(0.36)
    Discontinued operations $(0.01) $(0.01)  (0.04)  (0.04)
    Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders $(0.16) $(0.14)(a)$(0.56) $(0.40)
     

    (a) Does not total due to rounding

     
    ENVIRI CORPORATION
    CONSOLIDATED BALANCE SHEETS     		    
    (In thousands) September 30
    2024    		 December 31
    2023
    ASSETS    
    Current assets:    
    Cash and cash equivalents $110,243  $121,239 
    Restricted cash  2,889   3,375 
    Trade accounts receivable, net  318,906   338,187 
    Other receivables  42,960   40,565 
    Inventories  196,189   189,369 
    Current portion of contract assets  64,190   64,875 
    Prepaid expenses  63,818   58,723 
    Other current assets  6,969   11,023 
    Total current assets  806,164   827,356 
    Property, plant and equipment, net  698,315   707,397 
    Right-of-use assets, net  95,710   102,891 
    Goodwill  767,076   780,978 
    Intangible assets, net  305,633   327,983 
    Deferred income tax assets  16,495   16,295 
    Other assets  112,682   91,798 
    Total assets $2,802,075  $2,854,698 
    LIABILITIES    
    Current liabilities:    
    Short-term borrowings $14,357  $14,871 
    Current maturities of long-term debt  17,952   15,558 
    Accounts payable  245,996   243,279 
    Accrued compensation  65,414   79,609 
    Income taxes payable  8,952   7,567 
    Reserve for forward losses on contracts  53,513   52,919 
    Current portion of advances on contracts  16,838   38,313 
    Current portion of operating lease liabilities  27,381   28,775 
    Other current liabilities  168,676   174,342 
    Total current liabilities  619,079   655,233 
    Long-term debt  1,431,868   1,401,437 
    Retirement plan liabilities  39,900   45,087 
    Operating lease liabilities  69,977   75,476 
    Environmental liabilities  22,959   25,682 
    Deferred tax liabilities  31,749   29,160 
    Other liabilities  60,664   47,215 
    Total liabilities  2,276,196   2,279,290 
    ENVIRI CORPORATION STOCKHOLDERS’ EQUITY     
    Common stock  146,706   146,105 
    Additional paid-in capital  250,855   238,416 
    Accumulated other comprehensive loss  (545,620)  (539,694)
    Retained earnings  1,483,589   1,528,320 
    Treasury stock  (851,541)  (849,996)
    Total Enviri Corporation stockholders’ equity  483,989   523,151 
    Noncontrolling interests  41,890   52,257 
    Total equity  525,879   575,408 
    Total liabilities and equity $2,802,075  $2,854,698 
     


     
    ENVIRI CORPORATION
    CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
      Three Months Ended
    September 30    		 Nine Months Ended
    September 30
    (In thousands)  2024   2023   2024   2023 
    Cash flows from operating activities:        
    Net income (loss) $(12,267) $(10,094) $(40,233) $(34,522)
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:
    Depreciation  37,579   35,397   111,525   102,893 
    Amortization  7,909   8,295   24,089   24,327 
    Deferred income tax (benefit) expense  (137)  (4,899)  5,634   3,946 
    Equity (income) loss of unconsolidated entities, net  (38)  151   84   593 
    Dividends from unconsolidated entities  204   —   204   — 
    Property, plant and equipment impairment charge  —   —   —   14,099 
    Remeasurement of long-lived assets  —   —   10,695   — 
    Gain on sale of businesses, net  (8,601)  —   (10,478)  — 
    Other, net  (917)  597   1,928   4,743 
    Changes in assets and liabilities, net of acquisitions and dispositions of businesses:      
    Accounts receivable  (14,402)  8,244   3,231   (48,175)
    Inventories  (13,099)  (2,596)  (17,084)  (10,548)
    Contract assets  (2,036)  4,852   (14,923)  1,317 
    Right-of-use assets  7,493   8,256   23,687   24,467 
    Accounts payable  13,207   (13,778)  7,421   (818)
    Accrued interest payable  (5,077)  (6,636)  (5,092)  (6,828)
    Accrued compensation  9,132   11,242   (13,412)  20,436 
    Advances on contracts  (3,325)  (8,846)  (10,446)  (21,824)
    Operating lease liabilities  (7,465)  (8,190)  (23,341)  (22,980)
    Retirement plan liabilities, net  (6,043)  606   (6,981)  (4,862)
    Other assets and liabilities  (730)  (4,619)  (4,737)  (92)
    Net cash (used) provided by operating activities  1,387   17,982   41,771   46,172 
    Cash flows from investing activities:        
    Purchases of property, plant and equipment  (41,574)  (27,289)  (102,094)  (93,630)
    Proceeds from sale of businesses, net  41,079   —   57,667   — 
    Proceeds from sales of assets  4,895   641   12,479   2,080 
    Expenditures for intangible assets  (697)  (51)  (1,181)  (478)
    Proceeds from note receivable  —   —   17,023   11,238 
    Net proceeds (payments) from settlement of foreign currency forward exchange contracts  (6,717)  4,442   (6,133)  2,034 
    Other investing activities, net  —    378   —   462 
    Net cash (used) provided by investing activities  (3,014)  (21,879)  (22,239)  (78,294)
    Cash flows from financing activities:        
    Short-term borrowings, net  156   3,595   (2,982)  4,196 
    Current maturities and long-term debt:        
    Additions  159,555   61,996   201,562   185,992 
    Reductions  (146,274)  (49,795)  (200,584)  (140,522)
    Contributions from noncontrolling interests  —    —   874   1,654 
    Dividends paid to noncontrolling interests  (3,413)  —   (15,964)  — 
    Stock-based compensation - Employee taxes paid  (214)  (136)  (1,546)  (1,374)
    Deferred financing costs  (3,765)  —   (3,765)  — 
    Net cash (used) provided by financing activities  6,045   15,660   (22,405)  49,946 
    Effect of exchange rate changes on cash and cash equivalents, including restricted cash  1,208   (2,442)  (8,609)  (4,231)
    Net increase (decrease) in cash and cash equivalents, including restricted cash   5,626   9,321   (11,482)  13,593 
    Cash and cash equivalents, including restricted cash, at beginning of period  107,506   89,366   124,614   85,094 
    Cash and cash equivalents, including restricted cash, at end of period $113,132  $98,687  $113,132  $98,687 
     


     
    ENVIRI CORPORATION
    REVIEW OF OPERATIONS BY SEGMENT (Unaudited)
      Three Months Ended
      September 30, 2024 September 30, 2023
    (In thousands) Revenues Operating
    Income (Loss)    		 Revenues Operating Income (Loss)
    Harsco Environmental $279,148 $33,181  $285,877 $17,867 
    Clean Earth  236,791  26,833   238,711  21,497 
    Harsco Rail  57,688  (14,101)  72,380  (999)
    Corporate  —   (8,541)  —  (9,605)
    Consolidated Totals $573,627 $37,372  $596,968 $28,760 
             
      Nine Months Ended
      September 30, 2024 September 30, 2023
    (In thousands) Revenues Operating
    Income (Loss)    		 Revenues Operating Income (Loss)
    Harsco Environmental $871,196 $73,055  $848,659 $52,885 
    Clean Earth  698,926  71,308   691,750  61,002 
    Harsco Rail  213,815  (26,251)  226,280  10,270 
    Corporate  —  (23,672)  —  (29,795)
    Consolidated Totals $1,783,937 $94,440  $1,766,689 $94,362 
     


     
    ENVIRI CORPORATION
    RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO
    DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED     (Unaudited)    		 
      Three Months Ended Nine Months Ended 
      September 30 September 30 
       2024   2023   2024   2023  
    Diluted earnings (loss) per share from continuing operations, as reported $(0.15) $(0.12) $(0.52) $(0.36) 
    Corporate strategic costs (a)  0.01   0.03   0.03   0.05  
    Corporate net gain on sale of assets (b)  —   —   (0.04)  —  
    Corporate contingent consideration adjustment (c)  —   (0.01)  —   (0.01) 
    Corporate gain on note receivable (d)  —   —   (0.03)  —  
    Harsco Environmental segment intangible asset impairment charge (e)  —   —   0.04   —  
    Harsco Environmental segment - severance costs (f)  —   0.01   —   0.01  
    Harsco Environmental segment net gain on lease incentive (g)  —   —   (0.01)  (0.12) 
    Harsco Environmental segment property, plant and equipment impairment charge, net of noncontrolling interest (h)  —   —   —   0.10  
    Harsco Environmental segment - accounts receivable provision (i)  —   0.07   —   0.07  
    Harsco Environmental segment and Corporate net gain on sale of businesses (j)  (0.11)  —   (0.13)  —  
    Harsco Rail segment remeasurement of long-lived assets (k)  —   —   0.13   —  
    Harsco Rail segment severance cost adjustment (l)  —   —   —   (0.01) 
    Harsco Rail segment provision for forward losses on certain contracts (m)  0.13   0.04   0.25   (0.05) 
    Taxes on above unusual items (n)  0.04   —   0.05   0.13  
    Adjusted diluted earnings (loss) per share from continuing operations, including acquisition amortization expense  (0.07)(p) 0.01 (p) (0.23)(p) (0.18)(p)
    Acquisition amortization expense, net of tax (o)  0.06   0.07   0.20   0.21  
    Adjusted diluted earnings (loss) per share from continuing operations $(0.01) $0.08  $(0.03) $0.03  
     
    1. Certain strategic costs incurred at Corporate associated with supporting and executing the Company's long-term strategies (Q3 2024 $1.2 million pre-tax expense and nine months ended September 30, 2024 $2.7 million pre-tax expense; Q3 2023 $2.0 million pre-tax expense and nine months ended September 30, 2023 $4.4 million pre-tax expense).
    2. Net gain recognized for the sale of certain assets by Corporate (nine months ended September 30, 2024 $3.3 million pre-tax income).
    3. Adjustment related to a previously recorded liability related to a contingent consideration from the Company's acquisition of Clean Earth (Q3 2023 and nine months ended September 2023 $0.8 million pre-tax income).
    4. Gain recognized by Corporate due to the prepayment of a note receivable in April 2024 (nine months ended September 30, 2024 $2.7 million pre-tax income).
    5. Non-cash intangible asset impairment charge in the Harsco Environmental segment (nine months ended September 30, 2024 $2.8 million pre-tax expense).
    6. Severance and related costs incurred in the Harsco Environmental segment (Q3 2023 and nine months ended September 30, 2023 $1.1 million pre-tax expense).
    7. Gain, net of exit costs, recognized for a lease modification that resulted in a lease incentive received by the Harsco Environmental segment for a site relocation prior the end of the expected lease term (nine months ended September 30, 2023 $9.8 million pre-tax income). An adjustment to the reserve for exit costs related to this site was recorded upon vacating the site in 2024 (nine months ended September 30, 2024 $0.5 million pre-tax income).
    8. Non-cash property, plant and equipment impairment charge related to abandoned equipment at a Harsco Environmental site, net of noncontrolling interest impact (nine months ended September 30, 2023 net $7.9 million, which included $14.1 million pre-tax expense, net of $6.2 million that represents the noncontrolling partner's share of the impairment charge).
    9. Accounts receivable provision related to a customer in the Middle East (Q3 2023 and nine months ended September 30, 2023 $5.3 million pre-tax expense).
    10. Net gain recorded by the Harsco Environmental segment and Corporate on the sales of Performix Metallurgical Additives, LLC in April 2024 and Reed Minerals, LLC in August 2024, former subsidiaries of the Company within the Harsco Environmental segment (Q3 2024 $8.6 million pre-tax income and nine months ended September 30, 2024 $10.5 million pre-tax income).
    11. Beginning in March 31, 2024, the Company determined that the held-for-sale criteria was no longer met for the Harsco Rail segment and a charge was recorded for the depreciation and amortization expense that would have been recognized during the periods that Harsco Rail's long-lived assets were classified as held-for-sale, had the assets been continuously classified as held-for-use (nine months ended September 30, 2024 $10.7 million pre-tax expense).
    12. Adjustment to severance and related costs incurred in the Harsco Rail segment (nine months ended September 30, 2023 $0.5 million pre-tax income).
    13. Adjustments to the Company's provision for forward losses on contracts with certain customers in the Harsco Rail segment, principally for Deutsche Bahn, Network Rail and SBB (Q3 2024 $10.5 million pre-tax expense and nine months ended 2024 $19.9 million pre-tax expense; Q3 2023 $2.9 million pre-tax expense and nine months ended 2023 $4.2 million pre-tax income).
    14. Unusual items are tax-effected at the global effective tax rate, before discrete items, in effect during the year the unusual item is recorded.
    15. Pre-tax acquisition amortization expense was $6.6 million and $7.3 million in Q3 2024 and 2023, respectively, and after-tax expense was $5.0 million and $5.7 million in Q3 2024 and 2023, respectively. Pre-tax acquisition amortization expense was $20.8 million and $21.5 million for the nine months 2024 and 2023, respectively, and after-tax expense was $16.0 million and $16.6 million for the nine months ended 2024 and 2023, respectively.
    16. Does not total due to rounding.
     
    ENVIRI CORPORATION
    RECONCILIATION OF PROJECTED ADJUSTED DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING
    OPERATIONS TO DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS     (Unaudited)
             
      Projected
      Three Months Ending Twelve Months Ending
      December 31 December 31
       2024   2024 
      Low High Low High
    Diluted earnings (loss) per share from continuing operations $(0.20) $(0.09) $(0.72) $(0.61)
    Corporate strategic costs  —   —   0.03   0.03 
    Corporate net gain on sale of assets  —   —   (0.04)  (0.04)
    Corporate gain from note receivable  —   —   (0.03)  (0.03)
    Harsco Environmental segment adjustment to net gain on lease incentive  —   —   (0.01)  (0.01)
    Harsco Environmental segment and Corporate net gain on sale of businesses  —   —   (0.13)  (0.13)
    Harsco Environmental segment intangible asset impairment charge  —   —   0.04   0.04 
    Harsco Rail segment remeasurement of long-lived assets  —   —   0.13   0.13 
    Harsco Rail segment provision for forward losses on certain contracts  —   —   0.25   0.25 
    Taxes on above unusual items  —   —   0.05   0.05 
    Adjusted diluted earnings (loss) per share from continuing operations, including acquisition amortization expense  (0.20)  (0.09)  (0.43)  (0.32)
    Estimated acquisition amortization expense, net of tax  0.06   0.06   0.26   0.26 
    Adjusted diluted earnings (loss) per share from continuing operations $(0.14) $(0.03) $(0.16)(a)$(0.06)
     

    (a) Does not total due to rounding.

     
    ENVIRI CORPORATION
    RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY
    SEGMENT     (Unaudited)
    (In thousands) Harsco
    Environmental    		  Clean Earth Harsco Rail Corporate Consolidated
    Totals
               
    Three Months Ended September 30, 2024:        
    Operating income (loss), as reported $33,181  $26,833  $(14,101) $(8,541) $37,372 
    Strategic costs  —   —   —   1,178   1,178 
    Net gain on sale of businesses  (8,152)  —   —    (449)  (8,601)
    Provision for forward losses on certain contracts  —   —   10,539   —   10,539 
    Operating income (loss), excluding unusual items  25,029   26,833   (3,562)  (7,812)  40,488 
    Depreciation  27,554   8,685   1,040   300   37,579 
    Amortization  532   5,991   68   —   6,591 
    Adjusted EBITDA $53,115  $41,509  $(2,454) $(7,512) $84,658 
    Revenues, as reported $279,148  $236,791  $57,688    $573,627 
    Adjusted EBITDA margin (%)  19.0%  17.5%  (4.3)%    14.8%
               
    Three Months Ended September 30, 2023:        
    Operating income (loss), as reported  17,867   21,497   (999)  (9,605)  28,760 
    Strategic costs  —   —   —   2,044   2,044 
    Corporate contingent consideration adjustments  —   —   —   (828)  (828)
    Segment severance costs  1,146   —   —   —   1,146 
    Accounts receivable provision  5,284   —   —   —   5,284 
    Provision for forward losses on certain contracts  —   —   2,857   —   2,857 
    Operating income (loss), excluding unusual items  24,297   21,497   1,858   (8,389)  39,263 
    Depreciation  28,793   6,054   —   550   35,397 
    Amortization  1,013   6,330   —   —   7,343 
    Adjusted EBITDA $54,103  $33,881  $1,858  $(7,839) $82,003 
    Revenues, as reported $285,877  $238,711  $72,380    $596,968 
    Adjusted EBITDA margin (%)  18.9%  14.2%  2.6%    13.7%
     


     
    ENVIRI CORPORATION
    RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY
    SEGMENT     (Unaudited)
    (In thousands) Harsco Environmental Clean Earth Harsco Rail Corporate Consolidated Totals
               
    Nine Months Ended September 30, 2024:          
    Operating income (loss), as reported $73,055  $71,308  $(26,251) $(23,672) $94,440 
    Strategic costs  —   —   —   2,653   2,653 
    Net gain on sale of assets  —   —   —   (3,281)  (3,281)
    Adjustment to net gain on lease incentive  (451)  —   —   —   (451)
    Net gain on sale of businesses  (10,029)  —   —   (449)  (10,478)
    Intangible asset impairment charge  2,840   —   —   —   2,840 
    Remeasurement of long-lived assets  —   —   10,695   —   10,695 
    Provision for forward losses on certain contracts  —   —   19,919   —   19,919 
    Operating income (loss), excluding unusual items  65,415   71,308   4,363   (24,749)  116,337 
    Depreciation  83,793   24,347   2,424   961   111,525 
    Amortization  2,525   18,147   157   —   20,829 
    Adjusted EBITDA $151,733  $113,802  $6,944  $(23,788) $248,691 
    Revenues, as reported $871,196  $698,926  $213,815    $1,783,937 
    Adjusted EBITDA margin (%)  17.4%  16.3%  3.2%    13.9%
               
    Nine Months Ended September 30, 2023:        
    Operating income (loss), as reported $52,885  $61,002   10,270  $(29,795) $94,362 
    Strategic costs  —   —   —   4,381   4,381 
    Corporate contingent consideration adjustment  —   —   —   (828)  (828)
    Segment severance costs  1,146   —   (537)  —   609 
    Net gain on lease incentive  (9,782)  —   —   —   (9,782)
    Property, plant and equipment impairment charge  14,099   —   —   —   14,099 
    Accounts receivable provision  5,284   —   —   —   5,284 
    Provision for forward losses on certain contracts  —   —   (4,175)  —   (4,175)
    Operating income (loss), excluding unusual items  63,632   61,002   5,558   (26,242)  103,950 
    Depreciation  84,707   16,528   —   1,658   102,893 
    Amortization  3,020   18,472   —   —   21,492 
    Adjusted EBITDA  151,359   96,002   5,558   (24,584)  228,335 
    Revenues, as reported $848,659  $691,750  $226,280    $1,766,689 
    Adjusted EBITDA margin (%)  17.8%  13.9%  2.5%    12.9%
     


     
    ENVIRI CORPORATION
    RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS)
    FROM CONTINUING OPERATIONS AS REPORTED     (Unaudited)
    		  
      Three Months Ended September 30
    (In thousands)  2024   2023 
    Consolidated income (loss) from continuing operations $(11,094) $(8,955)
         
    Add back (deduct):    
    Equity in (income) loss of unconsolidated entities, net  (38)  151 
    Income tax expense (benefit) from continuing operations  13,437   3,498 
    Defined benefit pension expense (income)  4,257   5,430 
    Facility fees and debt-related expense (income)  2,978   2,806 
    Interest expense  28,813   27,552 
    Interest income  (981)  (1,722)
    Depreciation  37,579   35,397 
    Amortization  6,591   7,343 
         
    Unusual items:    
    Corporate strategic costs  1,178   2,044 
    Corporate contingent consideration adjustment  —   (828)
    Harsco Environmental segment and Corporate net gain on sale of businesses  (8,601)  — 
    Harsco Environmental segment severance costs  —   1,146 
    Harsco Environmental segment accounts receivable provision  —   5,284 
    Harsco Rail segment provision for forward losses on certain contracts  10,539   2,857 
    Consolidated Adjusted EBITDA $84,658  $82,003 
     



     
    ENVIRI CORPORATION
    RECONCILIATION OF ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM
    CONTINUING OPERATIONS AS REPORTED     (Unaudited)
    		  
      Nine Months Ended
    September 30
    (In thousands)  2024   2023 
    Consolidated income (loss) from continuing operations $(37,058) $(31,295)
         
    Add back (deduct):    
    Equity in (income) loss of unconsolidated entities, net  84   593 
    Income tax expense (benefit) from continuing operations  31,372   26,846 
    Defined benefit pension expense  12,599   16,159 
    Facility fee and debt-related expense  8,687   7,899 
    Interest expense  84,869   78,956 
    Interest income  (6,113)  (4,796)
    Depreciation  111,525   102,893 
    Amortization  20,829   21,492 
         
    Unusual items:    
    Corporate strategic costs  2,653   4,381 
    Corporate contingent consideration adjustment  —   (828)
    Corporate net gain on sale of assets  (3,281)  — 
    Harsco Environmental segment and Corporate net gain on sale of businesses  (10,478)  — 
    Harsco Environmental segment net gain on lease incentive  (451)  (9,782)
    Harsco Environmental segment intangible asset impairment charge  2,840   — 
    Harsco Environmental segment property, plant and equipment impairment charge  —   14,099 
    Harsco Environmental segment severance costs  —   1,146 
    Harsco Environmental segment accounts receivable provision  —   5,284 
    Harsco Rail segment severance costs  —   (537)
    Harsco Rail segment remeasurement of long-lived assets  10,695   — 
    Harsco Rail segment provision for forward losses on certain contracts  19,919   (4,175)
    Adjusted EBITDA $248,691  $228,335 
     


     
    ENVIRI CORPORATION
    RECONCILIATION OF PROJECTED CONSOLIDATED ADJUSTED EBITDA TO PROJECTED CONSOLIDATED
    INCOME FROM CONTINUING OPERATIONS
    (Unaudited)
    		 
      Projected Projected 
      Three Months Ending Twelve Months Ending 
      December 31 December 31 
       2024   2024  
    (In millions) Low High Low High 
    Consolidated loss from continuing operations $(15) $(7) $(48) $(39) 
              
    Add back (deduct):         
    Income tax expense (benefit) from continuing operations  4   6   32   34  
    Facility fees and debt-related (income) expense  3   3   12   11  
    Net interest  27   26   105   105  
    Defined benefit pension (income) expense  5   4   17   17  
    Depreciation and amortization  45   45   178   178  
              
    Unusual items:         
    Corporate strategic costs  —   —   3   3  
    Corporate net gain on sale of assets  —   —   (3)  (3) 
    Harsco Environmental segment adjustment to net gain on lease incentive  —   —   —   —  
    Harsco Environmental segment and Corporate net gain on sale of businesses  —   —   (10)  (10) 
    Harsco Environmental segment intangible asset impairment charge  —   —   3   3  
    Harsco Rail segment remeasurement of long-lived assets  —   —   11   11  
    Harsco Rail segment provision for forward losses on certain contracts  —   —   20   20  
    Consolidated Adjusted EBITDA $68 (a)$78 (a)$317 (a)$327 (a)
     

    (a) Does not total due to rounding.


     
    ENVIRI CORPORATION
    RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES
    (Unaudited)
      Three Months Ended Nine Months Ended
      September 30 September 30
    (In thousands)  2024   2023   2024   2023 
    Net cash provided (used) by operating activities $1,387  $17,982  $41,771  $46,172 
    Less capital expenditures  (41,574)  (27,289)  (102,094)  (93,630)
    Less expenditures for intangible assets  (697)  (51)  (1,181)  (478)
    Plus capital expenditures for strategic ventures (a)  727   507   2,177   2,458 
    Plus total proceeds from sales of assets (b)  4,895   641   12,479   2,080 
    Plus transaction-related expenditures (c)  1,038   917   5,478   1,045 
    Adjusted free cash flow $(34,224) $(7,293) $(41,370) $(42,353)
     
    1. Capital expenditures for strategic ventures represent the partner’s share of capital expenditures in certain ventures consolidated in the Company’s condensed consolidated financial statements.
    2. Asset sales are a normal part of the business model, primarily for the Harsco Environmental segment. The nine months ended September 30, 2024 also included asset sales by Corporate.
    3. Expenditures directly related to the Company's divestiture transactions and other strategic costs incurred at Corporate.
     
    ENVIRI CORPORATION
    RECONCILIATION OF PROJECTED ADJUSTED FREE CASH FLOW TO PROJECTED NET CASH PROVIDED (USED) BY
    OPERATING ACTIVITIES     (Unaudited)
      Projected
    Twelve Months Ending
    December 31
       2024 
    (In millions) Low High
    Net cash provided by operating activities $91  $116 
    Less net capital / intangible asset expenditures  (120)  (125)
    Plus capital expenditures for strategic ventures  4   4 
    Plus transaction-related expenditures  5   5 
    Adjusted free cash flow $(20) $— 
     


     
    ENVIRI CORPORATION
    RECONCILIATION OF CHANGES IN REVENUES FROM ORGANIC GROWTH TO CHANGES IN REVENUES,
    AS REPORTED
    (Unaudited)    		  
           
           
      Three Months Ended
    (in millions) Organic Other Total
    Total revenues - September 30, 2023     $597.0 
           
    Effects on revenues:      
    Price/volume changes 3.2  —   3.2 
    Foreign currency translation —  (5.8)  (5.8)
    Harsco Environmental segment divestitures (a) —  (15.4)  (15.4)
    Harsco Rail segment adjustments from estimated forward loss provisions on certain contracts (b) —  (5.4)  (5.4)
    Total change 3.2  (26.6)  (23.4)
    Total revenues - September 30, 2024     $573.6 
    Total change % 0.5% (4.5)%  (3.9)%
     

    (a) Includes the sales of Performix Metallurgical Additives, LLC in April 2024 and Reed Minerals in August 2024.
    (b) Change in revenue adjustments as a result of estimated forward loss provisions recorded by Harsco Rail during the three months ended September 30, 2024 and 2023, principally for the Deutsche Bahn, Network Rail and SBB contracts.

     
    ENVIRI CORPORATION
    HARSCO ENVIRONMENTAL SEGMENT
    RECONCILIATION OF CHANGES IN REVENUES FROM ORGANIC GROWTH TO CHANGES IN REVENUES,
    AS REPORTED
    (Unaudited)    		  
           
           
      Three Months Ended
    (in millions) Organic Other Total
    Harsco Environmental segment revenues - September 30, 2023     $285.9 
           
    Effects on revenues:      
    Price/volume changes 15.0  —   15.0 
    Foreign currency translation —  (6.4)  (6.4)
    Divestitures (a) —  (15.4)  (15.4)
    Total change 15.0  (21.8)  (6.8)
    Harsco Environmental segment revenues - September 30, 2024     $279.1 
    Total change % 5.2% (7.6)%  (2.4)%
     

    (a) Includes the sales of Performix Metallurgical Additives, LLC in April 2024 and Reed Minerals in August 2024.

     
    Investor Contact
    David Martin
    +1.267.946.1407
    dmartin@enviri.com    		Media Contact
    Karen Tognarelli
    +1.717.480.6145
    ktognarelli@enviri.com
     

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