Slide 1: Q1 2025 Quarterly Results and Outlook Conference Call
Q1 2025 Quarterly Results and Outlook Conference Call May 1, 2025 © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 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 • Positive Q1; exceeded EBITDA guidance for the quarter ◦ Clean Earth again realized strong growth ◦ Harsco Environmental performed above expectations despite persistent market challenges ◦ Harsco Rail made positive progress on ETO contracts, and we strengthened Rail's leadership tea
Slide 4: Q1 2025 Financial Summary
Q1 2025 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations • Revenue change YoY reflects FX Q1 2025 Q1 2024 CHANGE impacts, business divestitures, and site Revenues, as reported 548 600 (9)% exits (in Harsco Environmental) Income (loss) from Continuing • Adj
Slide 5: Q1 2025 Harsco Environmental
Q1 2025 HARSCO ENVIRONMENTAL SUMMARY RESULTS ($ MILLIONS) Q1 2025 Q1 2024 % • Revenue and Revenues, as reported 243 299 (19)% Adjusted EBITDA Operating Income – GAAP 10 20 (49)% change YoY reflect 1 Adjusted EBITDA - Non GAAP 39 49 (20)% 1 Adjusted EBITDA Margin - Non the impact of GAAP 16.2% 16.5%
Slide 6: Q1 2025 Clean Earth
Q1 2025 CLEAN EARTH SUMMARY RESULTS ($ MILLIONS) Q1 2025 Q1 2024 % • Revenue increase Revenues, as reported 235 226 4% YoY resulted from Operating Income – GAAP 23 21 10% higher volumes and Adjusted EBITDA - Non GAAP 1 38 34 12% pricing 1 Adjusted EBITDA Margin - Non 16.2% 15.1% GAAP • Adjusted EBIT
Slide 7: Q1 2025 Harsco Rail
Q1 2025 HARSCO RAIL SUMMARY RESULTS ($ MILLIONS) Q1 2025 Q1 2024 % Revenues, as reported 70 75 (7)% • Revenue change YoY reflects lower Operating Income – GAAP 8 (9) nmf aftermarket and 1 Adjusted EBITDA - Non GAAP (2) 2 nmf 1 Adjusted EBITDA Margin - Non technology volumes GAAP (3.2)% 2.7% • Adjust
Slide 8: 2025 Outlook – Consolidated
2025 OUTLOOK – CONSOLIDATED 2025 Outlook 2024 Actuals GAAP LOSS FROM CONTINUING $(36) - $(17) million $(119) million OPERATIONS 1 ADJUSTED EBITDA $305 - $325 million $319 million GAAP DILUTED EARNINGS (LOSS) PER $(0.50) - $(0.26) $(1.55) SHARE FROM CONTINUING OPERATIONS ADJUSTED DILUTED EARNINGS (LO
Slide 9: Q2 2025 Outlook
Q2 2025 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA below prior-year quarter due to FX, $65 - 75 million divestitures, and contract exits; partially offset by improvements Adjusted diluted earnings per share 1 from continuing operations is
Slide 10: Q&A
Q&A © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 10
Slide 11: Appendix
APPENDIX © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. 11
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: 2025 Segment Outlook
2025 SEGMENT OUTLOOK Down LSD (low single digits) % YoY excluding FX & divestitures; down REVENUES LDD (low double digits) % as reported 1 ADJUSTED EBITDA Down ~10% at mid-point, including FX translation & divestitures impacts DRIVERS + New contracts / sites, improvement initiatives, product volumes
Slide 14: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX, AS REPORTED (Unaudited) Three Months Ended March 31 (in thousands, except per share amounts) 2025 2024 Income (loss) fro
Slide 15: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX (Unaudited) Projected Three Months Twelve Months Ending Ending June 30 December 31 2025 2025 (a) (in millions,
Slide 16: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX, AS REPORTED (Unaudited) Twelve Months Ended December 31 (in thousands, except per share amounts) 2024 Income (loss) from
Slide 17: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS TO INCOME (LOSS) FROM CONTINUING OPERATIONS, NET OF TAX, AS REPORTED (Unaudited) (Continued from Previous Slide) (a) Classified in Total revenues for $8.3 million, included in t
Slide 18: Adjusted EBITDA by Segment, Q1 2025
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited) Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals Three Months Ended March 31, 2025: Operating i
Slide 19: Adjusted EBITDA by Segment, Q1 2024
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS) AS REPORTED BY SEGMENT (Unaudited) Harsco Clean Harsco Consolidated (In thousands) Environmental Earth Rail Corporate Totals Three Months Ended March 31, 2024: Operating inc
Slide 20: Consolidated Adjusted EBITDA, Three Months
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 March 31 (In thousands) 2025 2024 Consolidated income (loss) from continuing operations $ (11,028)
Slide 21: Consolidated Adjusted EBITDA, Twelve Months 2024
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) Twelove Months December 31 (In thousands) 2024 Consolidated income (loss) from continuing operations $ (118,746) Add
Slide 22: Projected Consolidated Adjusted EBITDA
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED CONSOLIDATED ADJUSTED EBITDA TO PROJECTED CONSOLIDATED INCOME FROM CONTINUING OPERATIONS (Unaudited) Projected Three Months Ending Twelve Months Ending June 30 December 31 2025 2025 (a) (In millions) Low High Low High
Slide 23: Changes in Revenues from Organic Growth
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CHANGES IN REVENUES FROM ORGANIC GROWTH TO CHANGES IN REVENUES, AS REPORTED (Unaudited) Three Months Ended (in millions) Organic Other Total Total revenues - March 31, 2024 $ 600.3 Effects on revenues: Price/volume changes (a)
Slide 24: Changes in Adjusted EBITDA from Organic Growth
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CHANGES IN ADJUSTED EBITDA FROM ORGANIC GROWTH (Unaudited) Three Months (in millions) Ended Consolidated adjusted EBITDA - March 31, 2025 $ 66.9 Consolidated adjusted EBITDA - March 31, 2024 78.0 Change - 2025 vs. 2024 $ (11.1)
Slide 25: Harsco Environmental Revenue Organic Growth Reconciliation
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION HARSCO ENVIRONMENTAL SEGMENT RECONCILIATION OF CHANGES IN REVENUES FROM ORGANIC GROWTH TO CHANGES IN REVENUES, AS REPORTED (Unaudited) Three Months Ended (in millions) Organic Other Total Harsco Environmental segment revenues - March 31, 2024 $
Slide 26: Adjusted Free Cash Flow, Three Months
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (Unaudited) Three Months Ended March 31 (In thousands) 2025 2024 Net cash provided (used) by operating activities $ 6,600 $ 1,348 Less capital expendit
Slide 27: Projected Adjusted Free Cash Flow
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED FREE CASH FLOW TO PROJECTED NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (Unaudited) Projected Twelve Months Ending December 31 2025 (In millions) Low High Net cash provided by operating activities $ 156
Slide 28: Adjusted Free Cash Flow, Twelve Months 2024
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (Unaudited) Twelve Months Ended December 31 (In thousands) 2024 Net cash provided (used) by operating activities $ 78,063 Less capital expenditures (13
Slide 29: © 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth
© 2025 Enviri Corporation. All Rights Reserved. This document and the information set forth herein are the property of Enviri Corporation. Any disclosure or copying of this document and its contents without the prior written approval of Enviri Corporation is prohibited. All Rights Reserved.