Q4 2025 Enviri Corp Earnings Call Transcript
Key Points
- Enviri Corp (NVRI) achieved full-year revenues of $2.2 billion in 2025, with Clean Earth contributing 4% growth through price increases and volume growth.
- Clean Earth realized record earnings and margins in 2025, showcasing strong performance.
- Harsco Environmental saw improved performance as the year progressed, with successful contract renewals and operational execution.
- The company is optimistic about potential improvements in steel demand and production, particularly in Europe, which could benefit Harsco Environmental.
- Rail's base business remained profitable in 2025, with improved cash flow despite weak demand.
- Harsco Environmental and Rail experienced lower revenues due to reduced volumes and divestitures.
- Rail's ETO contracts contributed to an EBITDA loss of approximately $20 million and consumed $40 million of cash in 2025.
- The Rail segment faced weak demand, with expectations of further softening in 2026.
- Enviri Corp (NVRI) reported a negative free cash flow of $15 million for the full year, impacted by interest burdens and Rail's negative cash flow.
- The company anticipates continued cash use from Rail's ETO contracts in 2026, with significant exposure to large European ETOs.
Good morning. My name is Rocco, and I will be your conference facilitator. At this time, I would like to welcome everyone to the Enviri Corporation fourth quarter and full year 2025 results release conference call. (Operator Instructions). Also, this telephone conference presentation and accompanying webcast made on behalf of Enviri Corporation.
Are subject to copyright by Enviri Corporation, and all rights are reserved. No recordings or redistributions of this telephone conference by any other party are permitted without the express written consent of Enviri Corporation. Your participation indicates your agreement.
I would now like to introduce Dave Martin of Enviri Corporation. Mr. Martin, you may begin your call.
Thank you, Rocco, and welcome to everyone joining us this morning. With me today is Nick Grasberger, our Chairman and Chief Executive Officer; Russell Hochman, our President and Chief Operating Officer; and the future CEO of New Enviri; and Thomas Vadaketh, our
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