Welcome to our dedicated page for Enviri news (Ticker: NVRI), a resource for investors and traders seeking the latest updates and insights on Enviri stock.
Enviri Corporation (NYSE: NVRI) is a Philadelphia-based global environmental services company that regularly issues news and updates on its operations, financial performance, and strategic plans. The company describes itself as a global, market-leading provider of environmental solutions for industrial and specialty waste streams, operating through businesses including Harsco Environmental, Harsco Rail, and Clean Earth.
News about Enviri commonly covers quarterly and annual earnings announcements, conference call schedules, and participation in investor conferences. The company releases details on revenues, segment performance for Harsco Environmental, Clean Earth, and Harsco Rail, and updates on its strategic alternatives process and capital structure, as reflected in its public communications.
Operational updates from Enviri’s divisions appear frequently in its news flow. Clean Earth has announced new service centers, such as a facility in Syracuse, New York, and technology investments like a foam fractionation unit in Detroit, Michigan to treat PFAS in aqueous materials. Harsco Environmental has reported multi‑year contracts and expansions, including agreements in India with Jindal Stainless and new contracts in Slovakia for briquetting and scrap cleaning services that support sustainability and operational efficiency for industrial customers.
Enviri’s news also includes information on major corporate transactions and governance developments. Recent releases describe a definitive agreement to sell the Clean Earth business to Veolia Environnement S.A. and a related taxable spin-off of the Harsco Environmental and Harsco Rail businesses into a standalone publicly traded company referred to as New Enviri. Additional items include executive leadership changes, such as appointments in finance and legal roles, and details on upcoming earnings calls. Investors and observers can use this news stream to follow Enviri’s financial reporting, strategic transactions, and operational initiatives across its global environmental services platform.
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.
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.