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Dec 31, 2024
Harsco Q4 2024 Earnings Report
Reported fourth quarter and full year results, with revenues totaling $559 million and a GAAP consolidated loss from continuing operations of $82 million.
Key Takeaways
Enviri Corporation reported Q4 2024 results with revenues of $559 million and a GAAP consolidated loss from continuing operations of $82 million. Adjusted EBITDA was $70 million, a 5% increase organically. The company is focusing on consistent execution amidst headwinds at Harsco Environmental and Rail, while Clean Earth achieved record profits and margins.
Fourth quarter revenues totaled $559 million; GAAP consolidated loss from continuing operations of $82 million.
Adjusted EBITDA in Q4 totaled $70 million, an increase of 5% over the prior-year quarter on an organic basis.
Net cash provided by operating activities of $36 million and adjusted free cash flow of $8 million in Q4.
2025 Adjusted EBITDA expected to be within range of $305 million and $325 million; Free cash flow to increase compared with prior year to between $30 million and $50 million.
Harsco
Harsco
Harsco Revenue by Segment
Revenue by Segment
Harsco Environmental Revenue
CapyFin.comHarsco Rail Revenue
CapyFin.com Forward Guidance
The Company anticipates that its 2025 Adjusted EBITDA will be comparable with 2024, while its adjusted free cash flow will significantly improve.
Positive Outlook
- Adjusted EBITDA is projected to increase at Clean Earth and Harsco Rail
- Increase in free cash flow will be primarily driven by an expected improvement in Harsco Rail as certain contract milestones are completed, as well as lower pension contributions.
- Clean Earth Adjusted EBITDA is expected to increase versus 2024 as a result of volume growth, efficiency initiatives and net higher pricing
- Harsco Rail Adjusted EBITDA is expected to modestly increase versus 2024 as a result of higher demand, pricing and contract adjustments in 2024 not repeating
- Economic conditions will remain stable and that the Company will benefit from various growth and improvement initiatives.
Challenges Ahead
- Adjusted EBITDA is expected to decline in Harsco Environmental, mainly as a result of FX translation and business divestitures.
- Currency impacts, business divestitures, exited contracts and services mix are expected to be partially offset by improvement initiatives, new contracts and product volumes for Harsco Environmental
- Corporate spending is anticipated to increase when compared with 2024 mainly as a result of the normalization of incentive compensation as well as non-cash equity compensation.
- Weak fundamentals within the global steel market persist and are expected to weigh on Harsco Environmental
- Expectations are tempered
Revenue & Expenses
Visualization of income flow from segment revenue to net income