Slide 1: Q4 2023 Quarterly Results and Outlook Conference Call
Q4 2023 Quarterly Results and Outlook Conference Call February 29, 2024 © 2024 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 1
Slide 2: Administrative Items
ADMINISTRATIVE ITEMS Conference Call and Access to Information More information on Enviri's quarterly earnings, including the Company’s earnings press release issued today and this presentation, is available on the Investor Relations portion of Enviri’s website. Company management will discuss the C
Slide 3: CEO Perspective
CEO PERSPECTIVE • Delivered strong quarterly results, supported by internal execution and underlying demand • Q4 and FY growth driven by pricing as well as efficiency and growth initiatives • Positive momentum at Clean Earth, highlighted by Veolia disposal agreement and PFAS project with the US DOD
Slide 4: Q4 2023 Financial Summary
Q4 2023 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations Q4 2023 Q4 2022 CHANGE • Revenues +13% YoY Revenues, as reported 529 468 13% • Adjusted EBITDA +21% YoY, with Operating Income – GAAP 28 2 nmf both HE and CE seeing strong growth 1 Adjusted EBITDA 73
Slide 5: Q4 2023 Harsco Environmental
Q4 2023 HARSCO ENVIRONMENTAL • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q4 2023 Q4 2022 % 14% YoY due to both Revenues, as reported 292 257 14% increased volumes Operating Income – GAAP 25 (4) nmf and price 1 Adjusted EBITDA - Non GAAP 56 43 31% 1 Adjusted EBITDA Margin - Non 19.3% 16.7% GAAP
Slide 6: Q4 2023 Clean Earth
Q4 2023 CLEAN EARTH • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q4 2023 Q4 2022 % 12% compared with Revenues, as reported 237 211 12% prior-year quarter Operating Income – GAAP 16 14 15% due to higher demand 1 Adjusted EBITDA - Non GAAP 29 25 17% and pricing GAAP 1 Adjusted EBITDA Margin - Non
Slide 7: 2023 Financial Summary
2023 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations 2023 2022 CHANGE • Revenues +10% YoY, reflecting higher services pricing and volume Revenues, as reported 2,069 1,889 10% growth • Adjusted EBITDA +28% YoY due to Operating Income – GAAP 111 (57) nmf pr
Slide 8: 2024 Outlook – Consolidated
3 2024 OUTLOOK – CONSOLIDATED 2024 Outlook 2023 Actuals GAAP OPERATING INCOME / (LOSS) $122 - 142M $111M 1 ADJUSTED EBITDA $300 - 320M $293M GAAP DILUTED EARNINGS (LOSS) PER $(0.28) - (0.52) $(0.57) SHARE FROM CONTINUING OPERATIONS ADJUSTED DILUTED EARNINGS (LOSS) PER 1 $(0.00) - (0.25) $(0.12) SHAR
Slide 9: 2024 Segment Outlook
2024 SEGMENT OUTLOOK Excluding unusual items REVENUES Low single-digit YoY growth, excluding FX translation impacts 1 ADJUSTED EBITDA Up ~3% YoY at mid-point DRIVERS + LST, services pricing net of any inflation, site improvements, new contracts / sites - Commodities, certain product volumes, investm
Slide 10: Q1 2024 Outlook
2 Q1 2024 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA modestly above prior- $ 63M - 70M year quarter due to higher services demand, new contracts, price increases and Adjusted diluted earnings per share improvements, offset by 1 from contin
Slide 11: Q&A
Q&A © 2024 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 11
Slide 12: Appendix
APPENDIX © 2024 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 12
Slide 13: Non-GAAP Measures
NON-GAAP MEASURES Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-
Slide 14: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Three Months Ended Twelve Months Ended December 31 December 31 2023 2022 202
Slide 15: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) (Continued from Previous Slide) (a) Costs incurred at Corporate to amend the
Slide 16: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS TO DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS (a) (Unaudited) Projected Projected Three Months Ending Twelve Months Ending March 31 Dece
Slide 17: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Consolidated (In thousands) Environmental Clean Earth Corporate Totals Three Months Ended December 31, 2023: Operating income (loss
Slide 18: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Consolidated (In thousands) Environmental Clean Earth Corporate Totals Three Months Ended December 31, 2022: Operating income (loss
Slide 19: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Consolidated (In thousands) Environmental Clean Earth Corporate Totals Twelve Months Ended December 31, 2023: Operating income (los
Slide 20: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Consolidated (In thousands) Environmental Clean Earth Corporate Totals Twelve Months Ended December 31, 2022: Operating income (los
Slide 21: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Three Months Ended December 31 (In thousands) 2023 2022 Consolidated income (loss) from continuing operations $ (12,4
Slide 22: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Twelve Months Ended December 31 (In thousands) 2023 2022 Consolidated income (loss) from continuing operations $ (47,
Slide 23: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED CONSOLIDATED ADJUSTED EBITDA TO PROJECTED CONSOLIDATED INCOME FROM CONTINUING OPERATIONS (a) (Unaudited) Projected Projected Three Months Ending Twelve Months Ending March 31 December 31 2024 2024 (In millions) Low Hi
Slide 24: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF FREE CASH FLOW TO NET CASH PROVIDED BY OPERATING ACTIVITIES (Unaudited) Three Months Ended Twelve Months Ended December 31 December 31 (In thousands) 2023 2022 2023 2022 Net cash provided (used) by operating activities (a) $ 68
Slide 25: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED FREE CASH FLOW TO PROJECTED NET CASH PROVIDED BY OPERATING ACTIVITIES (a) (Unaudited) Projected Twelve Months Ending December 31 2024 (In millions) Low High Net cash provided by operating activities $ 146 $ 176 Less n
Slide 26: © 2024 Enviri. All Rights Reserved. This document and the information set forth herein
© 2024 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. Any disclosure or copying of this document and its contents without the prior written approval of Enviri Corporation is prohibited. All Rights Reserved.