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Mar 31, 2024
Harsco Q1 2024 Earnings Report
Reported first quarter 2024 results with increased revenues and adjusted EBITDA.
Key Takeaways
Enviri Corporation reported a 7% increase in first quarter revenues to $600 million compared to the prior year. GAAP operating income was $26 million, and adjusted EBITDA increased by 19% to $78 million. The company experienced a GAAP diluted loss per share of $0.21 and an adjusted diluted loss per share of $0.03.
Revenues totaled $600 million, a 7% increase year-over-year.
GAAP operating income was $26 million.
Adjusted EBITDA reached $78 million, a 19% increase year-over-year.
Harsco Rail is now reported within continuing operations as the sales process is paused.
Harsco
Harsco
Harsco Revenue by Segment
Revenue by Segment
Harsco Environmental Revenue
CapyFin.comClean Earth Revenue
CapyFin.comHarsco Rail Revenue
CapyFin.com Forward Guidance
The company's 2024 guidance points to earnings growth compared to 2023, supported by stable economic conditions and internal growth initiatives. The outlook now includes Harsco Rail and reflects an improved outlook for Clean Earth, offset by a revised outlook for Harsco Environmental due to currency effects and the sale of Performix Metallurgical Additives.
Positive Outlook
- Higher services volumes and pricing in Harsco Environmental.
- Site improvement initiatives and new contracts in Harsco Environmental.
- Higher services pricing (net of inflation) in Clean Earth.
- Efficiency initiatives in Clean Earth.
- Higher demand and pricing for standard equipment offerings in Harsco Rail.
Challenges Ahead
- Lower commodities in Harsco Environmental.
- Currency impacts in Harsco Environmental.
- Certain product volumes in Harsco Environmental.
- Personnel investments in Harsco Environmental.
- Less favorable project-related business mix in Clean Earth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income