Enviri
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Enviri (NVRI) investor relations material

Enviri investor presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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investor presentation summary4 Mar, 2026

Strategic overview and business highlights

  • Operates in over 30 countries with more than 12,000 employees and over 170 years in business, generating $2.2B in 2025 revenue across environmental, waste, and rail segments.

  • Harsco Environmental leads in global environmental services, processing 18M+ tons of slag and recycling 80% of processed steel slag in 2024.

  • Clean Earth manages one of the largest U.S. networks for waste treatment and recycling, with 91% of specialty waste recycled and 3.6M metric tons of waste reused in 2024.

  • Harsco Rail supplies railway maintenance equipment globally, with a strong North American presence and over 125 railway customers in 70+ countries.

  • Recurring revenue streams are supported by long-term contracts, high renewal rates, and valuable, hard-to-replicate permits.

Financial performance and outlook

  • Q4 2025 revenues were $556M, unchanged year-over-year, with stable adjusted EBITDA at $70M and adjusted diluted loss per share of $0.17.

  • Harsco Environmental Q4 2025 revenues rose 7% to $257M, with adjusted EBITDA up 17% to $48M, driven by higher service demand and FX benefits.

  • Clean Earth Q4 2025 revenues increased 1% to $244M, with adjusted EBITDA up 5% to $38M, reflecting higher pricing and volumes in hazardous materials.

  • Harsco Rail Q4 2025 revenues declined 28% to $56M, with adjusted EBITDA dropping to -$4M due to lower equipment and aftermarket volumes.

  • 2026 segment outlook projects comparable revenues to 2025, with Harsco Environmental adjusted EBITDA of $170M–$180M and Harsco Rail adjusted EBITDA of $(26)M to $(19)M.

Growth strategy and innovation

  • Focused on expanding through new contracts, geographic growth, permit modifications, and innovative products such as carbon-negative asphalt and electronic waste recycling.

  • Recent contract wins and regulatory changes (e.g., PFAS) present further growth opportunities.

  • Investment in technology and aftermarket services aims to capture increased infrastructure spending and improve customer productivity.

Deleveraging impact of the Clean Earth sale
Rail segment cost-out drivers for 2026
Growth strategy for PFAS market penetration
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Q1 202630 Apr, 2026
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