Enviri Corporation · NYSE:NVRI
Enviri — Harsco — Q4 2022 Earnings Presentation
27 slides from Enviri's earnings presentation, Feb 27, 2023
Slide 1: Q4 2022 Quarterly Results and Outlook
Q4 2022 Quarterly Results and Outlook Conference Call February 27, 2023 © 2023 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation.
Slide 2: Administrative Items
ADMINISTRATIVE ITEMS Conference Call and Access to Information More information on Harsco's quarterly earnings, including the Company’s earnings press release issued today and this presentation, is available on the Investor Relations portion of Harsco’s website. Company management will discuss the C
Slide 3: CEO Perspective
CEO PERSPECTIVE – Strong operating performance in Q4; positive momentum entering 2023 – Clean Earth again benefited from price actions and improvement initiatives launched early in H2 – Harsco Environmental performed well through difficult cyclical/seasonal period, with upside from spending controls
Slide 4: Q4 2022 Financial Summary
Q4 2022 FINANCIAL SUMMARY KEY PERFORMANCE INDICATOR $ In millions except EPS;Continuing – Revenues +1% YoY (+6% excluding FX) Operations Q4 2022 Q4 2021 CHANGE – Adjusted EBITDA above guidance, Revenues, as reported 468 462 1% with CE and HE both contributing along with lower Corporate spending Oper
Slide 5: Q4 2022 Harsco Environmental
Q4 2022 HARSCO ENVIRONMENTAL SUMMARY RESULTS ($ MILLIONS) Q4 2022 Q4 2021 % – Revenues decrease 4% Revenues, as reported 257 268 (4)% YoY as FX translation Operating Income – GAAP (4) 20 (122)% impact (7%) offset higher 1 Adjusted EBITDA 43 49 (12)% services pricing and 1 activity at certain sites A
Slide 6: Q4 2022 Clean Earth
Q4 2022 CLEAN EARTH SUMMARY RESULTS ($ MILLIONS) Q4 2022 Q4 2021 % – Revenues increased 9% compared with prior- Revenues, as reported 211 194 9% year quarter due to Operating Income – GAAP 14 5 168% pricing of environmental Adjusted EBITDA 1 25 16 49% services Adjusted EBITDA Margin 1 11.6% 8.4% – A
Slide 7: 2022 Financial Summary
2022 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS – Revenues increase reflects higher $ In millions except EPS;Continuing Operations 2022 2021 CHANGE services pricing, partially offset by FX translation Revenues, as reported 1,889 1,848 2% – Adjusted EBITDA lower YoY as a result of Operating Income
Slide 8: 2023 Segment Outlook
2023 SEGMENT OUTLOOK Excluding unusual items REVENUES Low single-digit YoY growth, excluding FX translation impacts 1 ADJUSTED EBITDA Modestly higher YoY at guidance mid-point + Services pricing, cost-out program, site improvements, new contracts / - DRIVERS sites FX translation, commodities, servic
Slide 9: 2023 Outlook – Consolidated
3 2023 OUTLOOK – CONSOLIDATED 2023 OUTLOOK 2022 ACTUALS GAAP OPERATING INCOME $74 - 94M $(57)M 1 ADJUSTED EBITDA $240 - 260M $229M GAAP DILUTED EARNINGS PER SHARE $(0.50) - $(0.80) $(1.73) ADJUSTED DILUTED EARNINGS PER 1 $(0.23) - $(0.52) $0.10 SHARE 2 FREE CASH FLOW $20 - 40M $75M (1) Excludes unus
Slide 10: Q1 2023 Outlook
2 Q1 2023 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA below $ $ 45M- 50M prior-year quarter: FX translation, commodities, TM ecoproducts volumes and contract exits 1 Adjusted diluted earnings per share is expected to be between $ $ Adjusted
Slide 11: Q&A
Q&A © 2023 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation.
Slide 12: Appendix
APPENDIX © 2023 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation.
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 HARSCO CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE TO DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Three Months Ended Twelve Months Ended December 31 December 31 2022 2021 2022 2021 Diluted earnings (lo
Slide 15: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE TO DILUTED EARNINGS (LOSS) PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) (Continued from Previous Slide) (a) Costs incurred at Corporate to amend the Company's Senior Secured C
Slide 16: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF PROJECTED ADJUSTED DILUTED EARNINGS (LOSS) PER SHARE TO DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS (a) (Unaudited) Projected Projected Three Months Ending Twelve Months Ending March 31 December 31 2023 2023 Low High
Slide 17: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Harsco Clean Consolidated (In thousands) Environmental Earth Corporate Totals Three Months Ended December 31, 2022: Operating incom
Slide 18: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Harsco Clean Consolidated (In thousands) Environmental Earth Corporate Totals Three Months Ended December 31, 2021: Operating incom
Slide 19: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Harsco Consolidated (In thousands) Environmental Clean Earth Corporate Totals Twelve Months Ended December 31, 2022: Operating inco
Slide 20: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Harsco Consolidated (In thousands) Environmental Clean Earth (a) Corporate Totals Twelve Months Ended December 31, 2021: Operating
Slide 21: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Three Months Ended December 31 (In thousands) 2022 2021 Consolidated income (loss) from continuing operations $ (23,1
Slide 22: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Twelve Months Ended December 31 (In thousands) 2022 2021 Consolidated income (loss) from continuing operations $ (133
Slide 23: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO 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 2023 2023 (In millions) Low Hi
Slide 24: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF HARSCO CLEAN EARTH PROJECTED ADJUSTED EBITDA TO HARSCO CLEAN EARTH PROJECTED OPERATING INCOME (LOSS) (Unaudited) Harsco Clean Earth Projected Twelve Months Ending December 31 2023 (In millions) Low High Operating loss $ 43 $ 53
Slide 25: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO 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) 2022 2021 2022 2021 Net cash provided by operating activities $ 19,366 $ 25,4
Slide 26: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF PROJECTED FREE CASH FLOW TO PROJECTED NET CASH PROVIDED BY OPERATING ACTIVITIES (Unaudited) (a) Projected Twelve Months Ending December 31 2023 (In millions) Low High Net cash provided by operating activities $ 140 $ 170 Less n
Slide 27: © 2023 Harsco Corporation. This document and its contents remain the property of Harsco
© 2023 Harsco Corporation. This document and its contents remain the property of Harsco Corporation. Any disclosure or copying of this document and its contents without the prior written approval of Harsco Corporation is prohibited. All Rights Reserved.