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Jun 30, 2024
Harsco Q2 2024 Earnings Report
Reported second quarter results with revenues comparable to the prior year and adjusted EBITDA increased by 7 percent.
Key Takeaways
Enviri Corporation reported second-quarter revenues of $610 million, which is comparable to the prior-year quarter. GAAP operating income was $31 million, and adjusted EBITDA increased by 7 percent to $86 million. The company's credit agreement net leverage ratio declined to 3.9x. The company reaffirms its 2024 Adjusted EBITDA guidance to be within the range of $327 Million and $340 Million.
Second Quarter Revenues Totaled $610 Million, Comparable with Prior Year Quarter; Organic Growth in the Quarter was 6 Percent
Q2 GAAP Operating Income of $31 Million
Adjusted EBITDA in Q2 Totaled $86 million, an Increase of 7 Percent Over the Prior-Year Quarter
Credit Agreement Net Leverage Ratio Declined Further, to 3.9x at Quarter-End
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 Adjusted EBITDA outlook is unchanged at the guidance mid-point and continues to point to earnings growth compared with 2023.
Positive Outlook
- Higher services volumes and pricing
- Site improvement initiatives and new contracts
- Higher services pricing (net of inflation) and efficiency initiatives
- Higher demand and pricing for standard equipment offerings
- Higher demand and pricing technology products and contracted services
Challenges Ahead
- Currency impacts
- Exited contracts
- Lower commodity prices and certain product volumes
- Less favorable project-related business mix
- Lower contributions from aftermarket parts
Revenue & Expenses
Visualization of income flow from segment revenue to net income