Slide 1: Q2 2024 Quarterly Results and Outlook Conference Call
Q2 2024 Quarterly Results and Outlook Conference Call August 1, 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 another strong quarter with positive underlying growth • Each business executed well and exceeded expectations • Credit agreement Net Leverage below 4x for first-time since mid-2020; on track to meet 2024 debt reduction target • Affirmed full-year guidance • June Analyst
Slide 4: Q2 2024 Financial Summary
Q2 2024 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations Q2 2024 Q2 2023 CHANGE • Revenues unchanged given FX, Performix sale, Rail contract adjustments and Q2 '23 Revenues, as reported 610 609 —% Stericycle settlement • Adjusted EBITDA +7% YoY, with Clean
Slide 5: Q2 2024 Harsco Environmental
Q2 2024 HARSCO ENVIRONMENTAL • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q2 2024 Q2 2023 % 1% YoY due to higher Revenues, as reported 293 290 1% volumes and price, Operating Income – GAAP 20 13 59% offset by FX and 1 Adjusted EBITDA - Non GAAP 49 53 (7)% 1 Adjusted EBITDA Margin - Non Performi
Slide 6: Q2 2024 Clean Earth
Q2 2024 CLEAN EARTH • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q2 2024 Q2 2023 % 2% YoY due to higher Revenues, as reported 236 231 2% pricing and volumes, Operating Income – GAAP 24 23 4% partially offset by the 1 Adjusted EBITDA - Non GAAP 38 35 10% 1 Stericycle settlement Adjusted EBITDA M
Slide 7: Q2 2024 Harsco Rail
Q2 2024 HARSCO RAIL • Revenues decreased SUMMARY RESULTS ($ MILLIONS) Q2 2024 Q2 2023 % 9% YoY due to Revenues, as reported 81 89 (9)% favorable contract Operating Income – GAAP (3) 9 nmf adjustments in 2023; 1 Adjusted EBITDA - Non GAAP 7 2 290% excluding adjustments, 1 Adjusted EBITDA Margin - Non
Slide 8: 2024 Outlook – Consolidated
2024 OUTLOOK – CONSOLIDATED 2024 Outlook Prior 2024 Outlook GAAP OPERATING INCOME / (LOSS) $128 - $141 million $136 - $153M 1 ADJUSTED EBITDA $327 - $340 million $325 - $342M GAAP DILUTED EARNINGS (LOSS) PER $(0.42) - $(0.58) $(0.26) - $(0.47) SHARE FROM CONTINUING OPERATIONS ADJUSTED DILUTED EARNIN
Slide 9: Q3 2024 Outlook
Q3 2024 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA similar to prior-year quarter as higher $85 - 92 million prices and volumes will be offset by FX translation and Performix sale Adjusted diluted earnings per share 1 from continuing operat
Slide 10: Q&A
Q&A © 2024 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 10
Slide 11: Appendix
APPENDIX © 2024 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 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: 2024 Segment Outlook
2024 SEGMENT OUTLOOK Excluding unusual items REVENUES Low single-digit YoY growth, excluding FX translation impacts 1 ADJUSTED EBITDA Unchanged YoY at mid-point, including FX translation impacts LST, services pricing net of any inflation, site improvements, new DRIVERS + contracts / sites - Commodit
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 Six Months Ended June 30 June 30 2024 2023 2024 2023 Dilu
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) Certain strategic costs incurred at Corp
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 (Unaudited) Projected Projected Three Months Ending Twelve Months Ending September 30 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 Harsco Rail Corporate Totals Three Months Ended June 30, 2024: Operating in
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 Harsco Rail Corporate Totals Three Months Ended June 30, 2023: Operating in
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 Harsco Rail Corporate Totals Six Months Ended June 30, 2024: Operating inco
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 Harsco Rail Corporate Totals Six Months Ended June 30, 2023: Operating income
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 June 30 (In thousands) 2024 2023 Consolidated income (loss) from continuing operations $ (10,223)
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) Six Months Ended June 30 (In thousands) 2024 2023 Consolidated income (loss) from continuing operations $ (25,964) $
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 (Unaudited) Projected Projected Three Months Ending Twelve Months Ending September 30 December 31 2024 2024 (In millions) Low Hi
Slide 24: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF HARSCO RAIL PROJECTED ADJUSTED EBITDA TO HARSCO RAIL PROJECTED OPERATING INCOME (LOSS) (Unaudited) Harsco Rail Projected Twelve Months Ending December 31 2024 (In millions) Low High Operating income (loss) $ (6) $ (4) Depreciat
Slide 25: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED BY OPERATING ACTIVITIES (Unaudited) Three Months Ended Six Months Ended June 30 June 30 (In thousands) 2024 2023 2024 2023 Net cash provided (used) by operating activities $ 39,036 $
Slide 26: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED FREE CASH FLOW TO PROJECTED NET CASH PROVIDED BY OPERATING ACTIVITIES (Unaudited) Projected Twelve Months Ending December 31 2024 (In millions) Low High Net cash provided by operating activities $ 132 $ 162 L
Slide 27: Reconciliation of Non-GAAP Measures
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 - June 30, 2023 $ 609.0 Effects on revenues: Price/volume changes 36.5
Slide 28: © 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.