Enviri Corporation · NYSE:NVRI
Enviri — Q3 2023 Earnings Presentation
29 slides from Enviri's earnings presentation, Nov 2, 2023
Slide 1: Q3 2023 Quarterly Results and Outlook Conference Call
Q3 2023 Quarterly Results and Outlook Conference Call November 2, 2023 © 2023 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 positive quarterly results again; top- and bottom-line supported by volume growth, pricing initiatives, and focus on operating cost controls • Net leverage ratio continues to decline • 2023 Adjusted EBITDA Outlook raised further, reflecting business momentum and positive
Slide 4: Q3 2023 Financial Summary
Q3 2023 FINANCIAL SUMMARY KEY PERFORMANCE INDICATOR $ In millions except EPS;Continuing Operations Q3 2023 Q3 2022 CHANGE • Revenues +8% YoY Revenues, as reported 525 487 8% • Adjusted EBITDA +12% YoY, with Operating Income – GAAP 30 30 (1)% both HE and CE seeing strong growth 1 Adjusted EBITDA 79 7
Slide 5: Q3 2023 Harsco Environmental
Q3 2023 HARSCO ENVIRONMENTAL • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q3 2023 Q3 2022 % 8% YoY due to both Revenues, as reported 286 265 8% increased volumes Operating Income – GAAP 18 22 (19)% and price 1 Adjusted EBITDA - Non GAAP 54 51 7% 1 Adjusted EBITDA Margin - Non 18.9% 19.1% GAAP •
Slide 6: Q3 2023 Clean Earth
Q3 2023 CLEAN EARTH • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q3 2023 Q3 2022 % 7% compared with Revenues, as reported 239 222 7% prior-year quarter Operating Income – GAAP 21 17 24% due to higher 1 Adjusted EBITDA - Non GAAP 34 28 20% 1 Adjusted EBITDA Margin - Non volumes and pricing GAAP
Slide 7: 2023 Outlook – Consolidated
3 2023 OUTLOOK – CONSOLIDATED 2023 Outlook Prior 2023 Outlook 2022 Actuals GAAP OPERATING INCOME / (LOSS) $103 - 110M $97 - 112M $(57)M 1 ADJUSTED EBITDA $282 - 289M $270 - 285M $229M GAAP DILUTED EARNINGS (LOSS) PER $(0.50) - $(0.59) $(0.42) - $(0.58) $(1.73) SHARE FROM CONTINUING OPERATIONS ADJUST
Slide 8: Q4 2023 Outlook
2 Q4 2023 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA above prior-year quarter due to $ $ 62M - 69M higher services and products demand, new contracts, price increases and internal improvements Adjusted diluted earnings per share 1 from con
Slide 9: Q&A
Q&A © 2023 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 9
Slide 10: Appendix
APPENDIX © 2023 Enviri. All Rights Reserved. This document and the information set forth herein are the property of Enviri. 10
Slide 11: 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 12: 2023 Segment Outlook
2023 SEGMENT OUTLOOK Excluding unusual items REVENUES Mid single-digit YoY growth, excluding FX translation impacts 1 ADJUSTED EBITDA Modestly higher YoY DRIVERS + Services pricing, cost-out program, site improvements, new contracts / sites - FX translation, commodities REVENUES High single-digit Yo
Slide 13: 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 Nine Months Ended September 30 September 30 2023 2022 202
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) (Continued from Previous Slide) (a) Costs incurred at Corporate to amend the
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 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 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 December 31 D
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 September 30, 2023: Operating income (los
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 September 30, 2022: Operating income (los
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 Nine Months Ended September 30, 2023: Operating income (loss
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 Nine Months Ended September 30, 2022: Operating income (loss
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 September 30 (In thousands) 2023 2022 Consolidated income (loss) from continuing operations $ (7,7
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) Nine Months Ended September 30 (In thousands) 2023 2022 Consolidated income (loss) from continuing operations $ (35,0
Slide 23: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI 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 24: 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 December 31 December 31 2023 2023 (In millions) Low
Slide 25: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CLEAN EARTH PROJECTED ADJUSTED EBITDA TO CLEAN EARTH PROJECTED OPERATING INCOME (LOSS) (Unaudited) Clean Earth Projected Twelve Months Ending December 31 2023 (In millions) Low High Operating income $ 72 $ 76 Depreciation and a
Slide 26: 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 Nine Months Ended September 30 September 30 (In thousands) 2023 2022 2023 2022 Net cash provided (used) by operating activities $ 17,982
Slide 27: 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) Twelve Months Ended December 31 (In thousands) 2022 Net cash provided by operating activities $ 150,527 Less capital expenditures (137,160) Less expenditur
Slide 28: 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 2023 (In millions) Low High Net cash provided by operating activities $ 145 $ 165 Less n
Slide 29: © 2023 Enviri. All Rights Reserved. This document and the information set forth herein
© 2023 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.