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Enviri Corporation (NYSE: NVRI) is a global leader in providing a broad range of environmental services and innovative solutions aimed at transforming waste into valuable resources. Headquartered in Philadelphia, Pennsylvania, Enviri operates in over 150 locations across more than 30 countries, showcasing a vast operational footprint and international expertise.
The company's current operations are divided into three core divisions: Harsco Environmental, Harsco Rail, and Clean Earth. Harsco Environmental is the largest provider of on-site material processing and environmental services to the global metals industry, operating at over 130 customer sites in 32 countries. Their services include slag pot handling, metal recovery, and slag processing, all aimed at promoting efficient and sustainable metal production.
Harsco Rail, another division, offers comprehensive railway maintenance and construction solutions. This division stands out for its commitment to enhancing rail safety and efficiency, catering to a diverse, international client base with cutting-edge technologies.
Clean Earth specializes in the remediation, disposal, recycling, and beneficial reuse of hazardous and non-hazardous waste. Recently, Clean Earth was selected by the U.S. Department of Defense for a prototype project to demonstrate remediation technologies for PFAS, a significant environmental challenge. The division operates 91 locations across the United States, providing extensive capabilities in waste management and environmental sustainability.
Enviri is committed to helping its clients achieve their sustainability goals by offering critical recycling and reuse solutions for complex waste streams. Its dedication to environmental stewardship and innovation positions the company as a key player in the global shift towards greener practices.
Recent achievements of Enviri include the renewal of a multi-year services contract with SULB Company by Harsco Environmental, the announcement of the fourth quarter and full-year 2023 earnings results, and a multi-year contract with Gerdau in Mexico to provide comprehensive environmental services.
For investors and stakeholders, Enviri continues to demonstrate robust financial health and strategic growth. The company's focus on sustainable solutions and innovative practices not only addresses current environmental challenges but also paves the way for future advancements in green technologies.
Enviri (NYSE: NVRI) has announced the sale of its Reed Minerals business to Speyside Equity for $45 million in cash, subject to post-closing adjustments. This transaction surpasses Enviri's 2024 asset sale goal of $50 to $75 million in proceeds. The company plans to use the net cash proceeds to reduce debt and strengthen its balance sheet.
Speyside Equity, a global private equity firm with $1.6 billion under management, has experience in markets relevant to Reed Minerals. Enviri's CEO, Nick Grasberger, stated that this divestiture is part of the company's strategy to transform its business portfolio, focus on core markets, and reduce financial leverage. The sale is expected to provide Enviri with increased financial flexibility to focus on specific growth areas.
Enviri (NYSE: NVRI), a leading provider of environmental solutions for industrial and specialty waste streams, has announced its participation in two upcoming investor conferences. The company will be present at the Raymond James Industrial & Energy Showcase on Thursday, August 8, 2024, and the 2024 Seaport Research Partners Annual Summer Conference on Tuesday, August 20, 2024. Both events will be held virtually.
These conferences provide Enviri with opportunities to showcase its market-leading position in the environmental solutions sector and engage with investors. The company's participation in these events demonstrates its commitment to maintaining strong relationships with the investment community and keeping stakeholders informed about its business strategies and growth prospects.
Enviri (NYSE: NVRI) reported second quarter 2024 results with revenues totaling $610 million, comparable to the prior year quarter. The company achieved 6% organic growth and a 7% increase in Adjusted EBITDA to $86 million. Key highlights include:
- Q2 GAAP operating income of $31 million
- Credit agreement net leverage ratio declined to 3.9x
- 2024 adjusted EBITDA expected between $327 million and $340 million
- Clean Earth achieved record quarterly earnings
- Harsco Rail reported highest adjusted earnings in recent periods
- Harsco Environmental results exceeded expectations
The company maintains a positive outlook for 2024, focusing on strategic initiatives, debt reduction, and stronger cash flow to create shareholder value.
Enviri (NYSE: NVRI), a global leader in environmental solutions for industrial and specialty waste streams, has released its 2023 Environmental, Social, and Governance (ESG) Report. The report, Enviri's fifth annual publication, highlights significant progress towards sustainability goals across four key focus areas.
Key achievements include:
- Company divisions recycled or reused 19 million tons of waste
- Harsco Environmental recycled or reused 93% of processed steel slag (8.7 million tons)
- Clean Earth recycled or reused 91% of processed waste materials (3.9 million tons)
CEO Nick Grasberger emphasized Enviri's commitment to transforming challenging waste into reusable resources, contributing to a better future for people and the planet. The report outlines the company's ambitions, goals, and impact metrics in its journey to create a greener world.
Enviri (NYSE: NVRI) has announced that it will release its second quarter 2024 earnings results on August 1, 2024, before the NYSE market opens.
The company will also hold a quarterly conference call and webcast at 9:00 a.m. ET on the same day.
Investors and financial analysts can access the live call through their website or by dialing in. The webcast will be archived for those unable to attend live. Dial-in details for the call include a US number (833) 630-1956 and an international number (412) 317-1837.
Enviri (NYSE: NVRI), a global provider of environmental solutions, is hosting its 2024 Analyst Day in Philadelphia today, June 20. Key executives, including CEO Nick Grasberger, will discuss the company's financial priorities and outlook. Enviri aims for mid-single-digit revenue growth and 10-12% adjusted EBITDA growth annually over the next three years. The company plans to reduce its debt, targeting a leverage ratio of 2.5x by 2027. Clean Earth, a division of Enviri, has increased its EBITDA margin target to 17%. The event will include presentations and a Q&A session, focusing on Enviri's growth potential and sustainability efforts.
Enviri (NYSE: NVRI) reported first quarter 2024 results with revenues totaling $600 million, a 7% increase over the prior-year quarter. GAAP operating income was $26 million, and Adjusted EBITDA was $78 million, a 19% increase year-on-year. The company's 2024 outlook for Clean Earth and Harsco Environmental remains consistent with previous guidance, showing strong performance and positive future prospects.
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