Enviri Corp Stock Price, News & Analysis

Enviri (NYSE: NVRI) has announced new dial-in information for its Fourth Quarter and Full Year 2024 Results conference call, which has been postponed to 9:15 a.m. ET on February 20, 2025. Investors and financial analysts can access the call via webcast through the company's Investor Relations website at www.enviri.com or through direct dial-in numbers: (800) 860-2442 for US callers and (412) 858-4600 for international participants.

Participants are advised to dial in approximately ten minutes before the call begins. For those unable to attend the live call, a webcast recording will be archived on the company's website.

Enviri (NYSE: NVRI) reported Q4 2024 financial results with revenues of $559 million and a GAAP consolidated loss from continuing operations of $82 million. Q4 Adjusted EBITDA was $70 million, showing a 5% increase on an organic basis despite a 9% decrease on a reported basis compared to the previous year.

For full-year 2024, consolidated revenues were $2.34 billion with a GAAP consolidated loss of $119 million. The company achieved a 10-year high Adjusted EBITDA of $319 million, representing an 11% organic increase. The adjusted diluted loss per share was $0.07 in 2024.

Looking ahead to 2025, Enviri expects Adjusted EBITDA to be between $305-325 million, higher year-over-year when adjusted for divestitures and FX impact. Free cash flow is projected to increase to $30-50 million. The company recently amended its Credit Agreement to provide additional financial flexibility and increased its Securitization Facility capacity from $150 million to $160 million.

Harsco Environmental, a division of Enviri (NYSE: NVRI), has signed a contract with İzmir Demir Çelik Sanayi A.Ş. (İDÇ) in İzmir, Turkey. Under the agreement, Harsco Environmental will provide under furnace digging services for two electric arc furnaces at İDÇ. This marks the company's second contract in the İzmir region, coinciding with the commissioning of İDÇ's second electric arc furnace.

İDÇ is a major steel manufacturer in Turkey, producing construction iron, billets, blooms, and ribbed rebar. The partnership aims to enhance İDÇ's production capabilities while expanding Harsco Environmental's presence in the Turkish market.

Enviri (NYSE: NVRI), a global leader in environmental solutions for industrial and specialty waste streams, has announced its participation in two major upcoming investor conferences in February 2025.

The company will attend the J.P. Morgan 2025 Global Leveraged Finance Conference in Miami Beach, FL on Tuesday, February 25, 2025, followed by the BofA Securities 2025 Global Agriculture and Materials Conference in Ft. Lauderdale, FL on Wednesday, February 26, 2025.

Bradley L. Radoff, a significant stakeholder in Enviri (NYSE: NVRI), has issued an open letter to the company's Board of Directors demanding immediate governance changes to address prolonged value destruction. The letter criticizes the Board's recent refreshment plan as insufficient and calls for three specific actions:

1. Replace three long-serving directors (David C. Everitt, James F. Earl, and Phillip C. Widman) with new independent directors
2. Separate the Chairman and CEO roles currently held by F. Nicholas Grasberger III
3. Consider all alternatives for the underperforming Harsco Rail segment

The letter highlights significant underperformance, with NVRI showing negative returns: -39.4% (3-year), -37.3% (5-year), and -59.7% during CEO tenure, compared to substantial positive returns for industry benchmarks. Radoff threatens to vote against all incumbent directors at the 2025 Annual Meeting if changes are not implemented.

Enviri (NYSE: NVRI) has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 20, 2025, before the NYSE market opens. The company will host a conference call and webcast at 9:00 a.m. ET on the same day.

Investors and analysts can access the live call through the company's website investor relations section at www.enviri.com or by dialing (844) 481-2524 for US participants and (412) 317-0553 for international callers. Participants are advised to dial in ten minutes before the call starts. A webcast archive will be available on the company's website for those unable to attend the live call.

Enviri (NYSE: NVRI) announced updates to its Board refreshment plan through a cooperation agreement with Neuberger Berman Investment Advisers. The company will add two new independent directors in 2025, mutually agreed upon by both parties. The first appointment will coincide with the 2025 Annual Meeting, and the second will occur within eight months.

As part of the plan, two incumbent directors will step down: one at the 2025 Annual Meeting and another at the following Annual Meeting. The company has already refreshed its Board with three new members in the past four years and plans additional changes in 2026. This initiative aims to enhance skillsets aligned with the company's long-term strategy.

Neuberger Berman, a long-term shareholder, expressed strong belief in Enviri's potential and commitment to working with management to unlock significant value during the company's transformation phase.

Enviri (NYSE: NVRI) has appointed Christophe Reitemeier as senior vice president and president of Harsco Environmental, effective January 1, 2025. Reitemeier, a 25-year veteran of Harsco Environmental, has served as vice president and chief financial officer since 2020. He will be based at the company's headquarters in England and is already a member of Enviri's Executive Leadership Team.

Reitemeier joined Harsco Environmental in 1999 and brings international experience from his previous roles at Arthur Andersen in France and DS Smith. He holds a master's degree in management with a finance specialization from NEOMA Business School. He succeeds Mauro Curi, who passed away in September.

Enviri 's subsidiary ALTEK has partnered with REAL ALLOY to develop a zero-waste aluminum salt slag recycling facility in Wabash, Indiana, in collaboration with the U.S. Department of Energy. The project will utilize ALTEK's AluSalt™ technology to recycle metallics and salts while recovering non-metallic products. The technology aims to reduce carbon emissions, eliminate landfill waste, and generate reusable byproducts for the cement and steel industries. ALTEK, acquired by Enviri in 2018, currently operates in over 600 locations worldwide, focusing on improving operating efficiencies and waste management in the aluminum industry.