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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.
Harsco
Harsco
Harsco Revenue by Segment
Revenue by Segment
Harsco Environmental Revenue
CapyFin.com 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.
- Corporate spending is anticipated to be higher relative to the prior year due to the normalization of certain expenditures, including travel
- Higher planned incentive compensation.