Enviri Corp
NYSE:NVRI
Enviri Corp
Enviri Corp. engages in the provision of industrial services and engineered products. The company is headquartered in Philadelphia, Pennsylvania and currently employs 12,000 full-time employees. The firm serves a diverse customer base by offering critical recycle and reuse solutions for their waste streams, enabling customers to address their complex environmental challenges and to achieve their sustainability goals. Its segments include Harsco Environmental and Clean Earth. Harsco Environmental segment operates primarily under long-term contracts, providing critical environmental services and material processing to the global steel and metals industries, including zero waste solutions for manufacturing byproducts within the metals industry. The Clean Earth segment provides specialty waste processing, treatment, recycling and beneficial reuse solutions for customers in the industrial, retail, healthcare and construction industries across a variety of waste needs, including hazardous, non-hazardous and contaminated soils and dredged materials. The company offers a range of environmental services and related solutions.
Enviri Corp. engages in the provision of industrial services and engineered products. The company is headquartered in Philadelphia, Pennsylvania and currently employs 12,000 full-time employees. The firm serves a diverse customer base by offering critical recycle and reuse solutions for their waste streams, enabling customers to address their complex environmental challenges and to achieve their sustainability goals. Its segments include Harsco Environmental and Clean Earth. Harsco Environmental segment operates primarily under long-term contracts, providing critical environmental services and material processing to the global steel and metals industries, including zero waste solutions for manufacturing byproducts within the metals industry. The Clean Earth segment provides specialty waste processing, treatment, recycling and beneficial reuse solutions for customers in the industrial, retail, healthcare and construction industries across a variety of waste needs, including hazardous, non-hazardous and contaminated soils and dredged materials. The company offers a range of environmental services and related solutions.
Revenue: Enviri reported full year 2025 revenue of $2.2 billion, with 4% growth at Clean Earth but declines at Harsco Environmental and Rail due to lower volumes and divestitures.
Earnings: Adjusted EBITDA for 2025 was $275 million, with Clean Earth achieving record earnings and margins, and Harsco Environmental improving throughout the year.
Guidance: 2026 guidance for New Enviri (HE and Rail) includes $170–180 million adjusted EBITDA for HE and an EBITDA loss of $19–26 million for Rail, reflecting continued market softness.
Clean Earth Sale: The sale of Clean Earth is progressing, with a targeted mid-2025 closing; cash payout remains projected between $14.50 and $16.50 per share, with no narrowing of the range yet.
Rail Headwinds: Rail continues to face weak demand and losses from ETO contracts, but management expects gradual improvement and is taking aggressive cost actions.
Contract Renewals: Harsco Environmental renewed a larger-than-normal volume of contracts in 2025, exiting lower-margin ones to focus on higher-margin opportunities.
