Enviri Corp Stock Price, News & Analysis

Enviri (NYSE: NVRI) has announced the timing for its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 results on Thursday, October 31, 2024, before the NYSE market opens. A conference call and webcast will follow at 9:00 a.m. ET on the same day.

Investors and analysts can access the live call using the following dial-in numbers:

• US: (833) 630-1956
• International: (412) 317-1837

Participants are advised to dial in about ten minutes before the call starts. The webcast will be available in the Investor Relations section of Enviri's website at www.enviri.com. For those unable to join live, an archived version of the webcast will be accessible on the company's website.

Enviri (NYSE: NVRI) has announced the renewal of its $150 million accounts receivable securitization facility with PNC Bank, N.A. The facility, which was originally set to mature in June 2025, has been extended for three years and will now mature in October 2027.

Tom Vadaketh, senior vice president and chief financial officer, stated that this renewal aligns with Enviri's strategic priorities and efforts to increase cash flow and reduce leverage to 2.5x in the coming years. The company views this facility as an important and cost-effective part of its capital structure, supporting its plan to drive value creation for shareholders.

Enviri (NYSE: NVRI) has been certified as a 2024 Most Loved Workplace®, reaffirming its commitment to cultural excellence. This certification, awarded by the Best Practice Institute (BPI), is based on employee satisfaction and sentiment measured through the Love of Workplace Index® Pulse Validation.

Key highlights include:

• High scores in trust, honesty, and teamwork
• Additional certifications for supporting Parents and Caregivers, Diversity, Young Professionals, and Women
• Employee feedback emphasizing the company's core values, mission, and inclusive culture

Jennifer Kozak, Chief Human Resources Officer, expressed gratitude for the team's dedication and emphasized how this recognition reflects Enviri's inclusive and empowering culture. The certification underscores Enviri's commitment to creating a positive work environment and aligns with its mission of creating a better future through environmental solutions for industrial and specialty waste streams.

Enviri (NYSE: NVRI) has successfully refinanced its senior secured revolving credit facility. The new arrangement includes a $625 million Extended Revolving Credit Facility maturing on September 5, 2029, and a $50 million existing Revolving Credit Facility maturing on March 10, 2026. This brings the total available credit to $675 million.

The refinancing includes favorable covenant modifications, with the total net leverage ratio covenant stepping down from 5.00x to 4.00x of consolidated adjusted EBITDA by the end of 2025. The company's current covenant net leverage ratio is 3.93x, down from 5.35x at the beginning of 2023. The Extended Revolving Credit Facility will have an interest rate ranging from 175 to 225 basis points over SOFR, depending on total net leverage.

Enviri (NYSE: NVRI), a global leader in environmental solutions for industrial and specialty waste streams, has announced its participation in two upcoming investor conferences. The company will attend the Jefferies Industrial Conference in New York on September 4, 2024, and the Lake Street: 2024 BIG8 Conference in New York on September 12, 2024.

Enviri is committed to transforming the world to green by providing innovative recycling and reuse solutions for complex waste streams. The company operates in over 150 locations across 30+ countries, helping customers achieve their sustainability goals. Based in Philadelphia, Enviri offers a broad range of environmental services to a diverse customer base.

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.