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The news archive associated with the former NYSE ticker HSC captures the transition of Harsco Corporation into Enviri Corporation and the company’s ongoing activities as an environmental solutions provider. Company announcements describe Enviri as focused on managing, recycling and beneficially reusing waste and byproduct materials through its segments Harsco Environmental, Clean Earth and Harsco Rail.
News items highlight several themes. One set of releases covers the corporate rebranding and ticker change from HSC to NVRI, explaining that the new name aligns with Enviri’s emphasis on environmental services and waste‑related solutions. Other announcements detail operational developments, such as contract renewals for Harsco Environmental with major steel producers including ArcelorMittal Long Products in Quebec and Ternium sites in Latin America. These stories describe services like slag processing, metal recovery, scrap management and melt shop support that underpin steel mill operations and environmental performance.
Clean Earth‑related news focuses on specialty waste treatment and partnerships. For example, a release describes a long‑term agreement with Veolia North America that gives Clean Earth access to incineration capacity at a hazardous waste treatment facility in Arkansas, aimed at providing reliable and efficient disposal options for environmental, household and industrial waste streams.
Governance and strategic direction also appear in the news flow. Items include board appointments at Enviri and an open letter from a stockholder urging leadership and structural changes, including a review of the rail segment and board composition. Together, these articles provide context on Enviri’s business focus, customer relationships, strategic priorities and the perspectives of some investors. Readers can use this news stream to follow how the company’s environmental services platform and corporate strategy have evolved since the days when it traded under the HSC ticker.
Harsco Corporation (NYSE: HSC), a leader in environmental solutions, will participate in several investor conferences in August and September 2022.
- Jefferies Industrials Conference: August 10, 2022
- Raymond James Diversified Industrials Conference: August 23, 2022
- Seaport Research Partners Annual Summer Investor Conference: August 24, 2022
- Stifel London Industrials & Renewables Summit: September 7, 2022
- Lake Street Annual Best Ideas Growth Conference: September 14, 2022
- D A Davidson Diversified Industrials & Services Conference: September 22, 2022
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Harsco Corporation (NYSE: HSC) reported Q2 2022 revenues of $481 million, up 3% from the prior year. However, it faced a significant GAAP operating loss of $97 million, mainly due to a $105 million goodwill impairment charge. Adjusted EBITDA was $49 million, down from $67 million year-over-year. The company implemented a $30 million profit improvement plan at Clean Earth to combat inflation costs. Harsco's full-year adjusted EBITDA guidance is now $210 million to $220 million, with free cash flow projected at $115 million to $125 million.
Harsco Corporation has opened a new 10-day hazardous waste transfer facility in Caguas, Puerto Rico, expanding Clean Earth's waste management capacity. This 5,900-square-foot facility enhances transportation for hazardous and non-hazardous waste from Puerto Rico and the U.S. Virgin Islands to the U.S. for processing and recycling. It serves 312 waste generators, supporting enterprise customers in U.S. territories. The facility's opening reflects Clean Earth's commitment to responsible waste handling and its strategy to grow within these markets.
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Harsco Corporation (NYSE: HSC) announced a projected operating loss of $95-$97 million for Q2 2022, including a non-cash goodwill impairment of approximately $100 million. The company's Adjusted EBITDA is estimated to be between $47.5 million and $50 million, down from previous guidance. Key business segments showed mixed performance, with Harsco Environmental expecting lower results due to foreign exchange issues, while Clean Earth anticipates a significant decline in EBITDA by about $12 million. Full-year projections have been revised, indicating a loss of $51-$61 million and Adjusted EBITDA of $210-$220 million.
Harsco Corporation (NYSE: HSC) has successfully closed a $150 million accounts receivable securitization facility with PNC Bank, N.A., expecting to initially utilize $120 million of the facility. This asset monetization is projected to save approximately $2 million in annual interest and reduce the company's leverage under its senior secured credit agreement. The facility has a three-year term and can be funded at Harsco’s discretion in future quarters. Senior VP and CFO Anshooman Aga emphasized the importance of reducing leverage and improving cash flow.
Tosyali Harsco, a joint venture between Harsco Environmental and Tosyalı Holding, has secured a multi-year services contract with Kardemir Steel, marking its first agreement in Western Turkey. This contract highlights Tosyali Harsco's commitment to expanding its operations in Turkey's steel sector. Kardemir, a notable steel producer in İzmir, prioritizes environmental safety, which aligns with Tosyali Harsco's expertise in sustainable solutions. The partnership is expected to enhance productivity while maintaining a clean environment for Kardemir's operations.
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Clean Earth's TSDF in Detroit, MI has achieved Drug Distributor Accreditation from the National Association of Boards of Pharmacy. This accreditation confirms the facility's compliance with stringent regulatory standards for the destruction of prescription drugs, enhancing its operational reach nationwide. In 2021, the Detroit TSDF safely destroyed over 4 million pounds of prescription drugs, highlighting its role in preventing illegal drug sales and environmental harm. With an audit scheduled for 2025, Clean Earth emphasizes its dedication to public safety and compliance in pharmaceutical waste management.