Loading...
•
Sep 30, 2023
Harsco Q3 2023 Earnings Report
Enviri reported strong Q3 2023 results, with revenue and adjusted EBITDA increases.
Key Takeaways
Enviri Corporation reported an 8% increase in third-quarter revenue, totaling $525 million. GAAP operating income was $30 million, and adjusted EBITDA rose by 12% to $79 million. The company increased its full-year adjusted EBITDA guidance to between $282 million and $289 million.
Revenues from continuing operations totaled $525 million, an 8% increase year-over-year.
GAAP operating income from continuing operations was $30 million.
Adjusted EBITDA from continuing operations increased by 12% to $79 million.
Full-year 2023 adjusted EBITDA guidance range increased to between $282 million and $289 million.
Revenue by Segment
Forward Guidance
The Company has again increased its 2023 guidance for Adjusted EBITDA, reflecting the Company's positive third quarter performance and business momentum.
Positive Outlook
- Improved volumes and margin performance in Clean Earth
- Modestly lower Corporate spending
- Harsco Environmental adjusted EBITDA is projected to be modestly above prior-year results.
- Higher services pricing
- Restructuring benefits, site improvement initiatives and new contracts are expected
Challenges Ahead
- FX translation impacts
- Lower commodity prices
- Clean Earth adjusted EBITDA is expected to significantly increase versus 2022, as a result of higher services pricing and volumes as well as cost reduction and operational improvement actions, offsetting the impacts of continued labor-market and supply-chain (disposal) tightness.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...