Enviri Corporation · NYSE:NVRI
Enviri — Harsco — Q1 2023 Earnings Presentation
26 slides from Enviri's earnings presentation, May 3, 2023
Slide 1: Q1 2023 Quarterly Results and Outlook
Q1 2023 Quarterly Results and Outlook Conference Call May 3, 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 Q1 – Harsco businesses benefited from favorable volumes and business mix as well as lower operating costs relative to our earlier expectations – 2023 Outlook raised to reflect positive business momentum – Net leverage ratio declined to 4.9x; targetin
Slide 4: Q1 2023 Financial Summary
Q1 2023 FINANCIAL SUMMARY KEY PERFORMANCE INDICATOR $ In millions except EPS;Continuing – Revenues +9% YoY (+12% excluding Operations Q1 2023 Q1 2022 CHANGE foreign exchange impacts) Revenues, as reported 496 453 9% – Adjusted EBITDA above guidance, with both CE and HE contributing Operating Income
Slide 5: Q1 2023 Harsco Environmental
Q1 2023 HARSCO ENVIRONMENTAL – Revenues increased 4% SUMMARY RESULTS ($ MILLIONS) Q1 2023 Q1 2022 % YoY as increases to both Revenues, as reported 273 262 4% volume and price were only partially offset by Operating Income – GAAP 22 18 22% the impact of FX 1 Adjusted EBITDA 44 48 (9)% translation Adj
Slide 6: Q1 2023 Clean Earth
Q1 2023 CLEAN EARTH – Revenues increased SUMMARY RESULTS ($ MILLIONS) Q1 2023 Q1 2022 % 17% compared with Revenues, as reported 222 191 17% prior-year quarter due to higher volumes and Operating Income – GAAP 16 (1) nmf services pricing Adjusted EBITDA 1 27 10 169% 1 Adjusted EBITDA Margin 12.3% 5.3
Slide 7: 2023 Outlook – Consolidated
3 2023 OUTLOOK – CONSOLIDATED 2023 Outlook Prior 2023 Outlook 2022 ACTUALS GAAP OPERATING INCOME $101 - 116M $74 - 94M $(57)M 1 ADJUSTED EBITDA $260 - 275M $240 - 260M $229M GAAP DILUTED EARNINGS (LOSS) PER SHARE FROM $(0.33) - $(0.54) $(0.50) - $(0.80) $(1.73) CONTINUING OPERATIONS ADJUSTED DILUTED
Slide 8: Q2 2023 Outlook
2 Q2 2023 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA modestly $ $ below prior-year quarter: 65M- 72M FX translation and lower commodities, partially offset by higher volumes and services mix Adjusted diluted earnings per share from 1 conti
Slide 9: 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 10: Appendix
APPENDIX © 2023 Harsco Corporation. All Rights Reserved. This document and the information set forth herein are the property of Harsco Corporation.
Slide 11: 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 + Services pricing, cost-out program, site improvements, new contracts / - DRIVERS sites FX translation, commodities REVENUES High single-digit Yo
Slide 12: 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 13: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO 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 March 31 2023 2022 Diluted earnings (loss) per share from
Slide 14: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO 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 15: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS TO DILUTED LOSS PER SHARE FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Twelve Months Ended December 31 2022 Diluted earnings per share from continuing operati
Slide 16: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO 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 June 30 Decem
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 Consolidated (In thousands) Environmental Clean Earth Corporate Totals Three Months Ended March 31, 2023: Operating income (
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 Consolidated (In thousands) Environmental Clean Earth (a) Corporate Totals Three Months Ended March 31, 2022: Operating inco
Slide 19: 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 March 31 (In thousands) 2023 2022 Consolidated income (loss) from continuing operations $ (8,622)
Slide 20: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES HARSCO CORPORATION RECONCILIATION OF ADJUSTED EBITDA TO CONSOLIDATED LOSS FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Twelve Months Ended December 31 (In thousands) 2022 Consolidated loss from continuing operations $ (133,517) Add back (deduct): Equity in i
Slide 21: 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 June 30 December 31 2023 2023 (In millions) Low Hig
Slide 22: 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 income $ 51 $
Slide 23: 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 March 31 (In thousands) 2023 2022 Net cash provided by operating activities $ 36,912 $ (34,315) Less capital expenditures (22,146) (32,9
Slide 24: 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) Twelve Months Ended December 31 (In thousands) 2022 Net cash provided by operating activities $ 150,527 Less capital expenditures (137,160) Less expenditur
Slide 25: 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 $ 145 $ 175 Less n
Slide 26: © 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.