Q1 2026 Enviri Corp Earnings Call Transcript
Key Points
- Enviri Corp (NVRI) successfully cleared key regulatory milestones for the Clean Earth sale and New Enviri spin-off, with expected closure by June 1.
- Harsco Environmental and Rail exceeded expectations due to better volumes, positive operational execution, and prudent cost management.
- The company anticipates a cash payout to shareholders from the Clean Earth sale, with a cash conversion range of $14.50 to $16.50 per share.
- Harsco Environmental segment revenues increased by 6% compared to the prior year, driven by new site volumes and higher services demand.
- New Enviri is positioned for margin improvement and earnings growth, supported by a strong capital structure and internal initiatives.
- Clean Earth's financial results were negatively impacted by sluggish project-related work and industrial volumes due to winter storms.
- Rail's adjusted EBITDA loss was $1 million in the first quarter, with challenges in filling the order book for OEM equipment in North America.
- Rail remains a consumer of cash, with a negative cash flow of $18 million largely due to ETO contracts.
- Economic uncertainty, including geopolitical situations and higher energy prices, poses risks to Harsco Environmental's business conditions.
- Rail's demand for equipment continues to be weak, affecting the overall financial outlook for the segment.
Good afternoon. My name is Chuck, and I'll be your conference facilitator. At this time, I would like to welcome everyone to the Enviri Corporation first quarter 2026 earnings 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 Mr. Dave Martin of Enviri Corporation. Mr. Martin, you may begin the call.
Thank you, Chuck, and welcome. Welcome to everyone joining us this afternoon. With me today is Nick Grasberger, our Chairman and Chief Executive Officer; Russell Hochman, our President and Chief Operating Officer and incoming CEO of New Enviri; Tom Vadaketh, our Senior Vice
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