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Jun 30, 2023
Harsco Q2 2023 Earnings Report
Enviri reported an increase in revenue and adjusted EBITDA, driven by strong execution and favorable pricing.
Key Takeaways
Enviri Corporation reported strong second-quarter results with revenues totaling $520 million, an 8% increase year-over-year. Adjusted EBITDA increased by 58% to $78 million. The company has raised its full-year adjusted EBITDA guidance, reflecting positive business momentum.
Second Quarter Revenues from Continuing Operations Totaled $520 Million, an Increase of 8 Percent Over the Prior-Year Quarter
Q2 GAAP Operating Income from Continuing Operations of $24 Million
Adjusted EBITDA from Continuing Operations in Q2 Totaled $78 million, an Increase of 58 Percent Over the Prior-Year Quarter
Full Year 2023 Adjusted EBITDA Guidance Range Increased to Between $270 Million and $285 Million
Revenue by Segment
Forward Guidance
The Company has increased its 2023 guidance for Adjusted EBITDA from the outlook provided with its first quarter 2023 results, reflecting the Company's second quarter performance and positive business momentum.
Positive Outlook
- Harsco Environmental adjusted EBITDA is projected to be modestly above prior-year results.
- Higher services pricing
- Restructuring benefits
- Site improvement initiatives
- New contracts are expected to be partially offset by FX translation impacts and lower commodity prices.
Challenges Ahead
- Clean Earth adjusted EBITDA is expected to significantly increase versus 2022, as a result of higher services pricing as well as cost reduction and operational improvement actions, offsetting the impacts of continued labor-market and supply-chain (disposal) tightness.
- Corporate spending is anticipated to be higher relative to the prior year due to the normalization of certain expenditures
- Including travel
Historical Earnings Impact
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Avg. Return Before/After Earnings
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