Slide 1: Q3 2024 Quarterly Results and Outlook Conference Call
Q3 2024 Quarterly Results and Outlook Conference Call October 31, 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 • Met Q3 Adjusted EBITDA guidance despite market weakness and operational challenges in Harsco Environmental and Harsco Rail • Clean Earth achieved record quarterly earnings and margins • Extended credit agreement and accounts receivable facilities, enhancing financial flexibility •
Slide 4: Q3 2024 Financial Summary
Q3 2024 FINANCIAL SUMMARY KEY PERFORMANCE INDICATORS $ In millions except EPS; Continuing Operations Q3 2024 Q3 2023 CHANGE • Revenues lower YoY due to FX, business divestitures, and Rail contract Revenues, as reported 574 597 (4)% adjustments; organic growth +1% • Adjusted EBITDA growth driven by C
Slide 5: Q3 2024 Harsco Environmental
Q3 2024 HARSCO ENVIRONMENTAL • Revenues decrease SUMMARY RESULTS ($ MILLIONS) Q3 2024 Q3 2023 % driven by FX, Revenues, as reported 279 286 (2)% divestitures and Operating Income – GAAP 33 18 86% contract exits; 1 Adjusted EBITDA - Non GAAP 53 54 (2)% 1 Adjusted EBITDA Margin - Non organic growth GA
Slide 6: Q3 2024 Clean Earth
Q3 2024 CLEAN EARTH • Revenue change SUMMARY RESULTS ($ MILLIONS) Q3 2024 Q3 2023 % reflects lower Revenues, as reported 237 239 (1)% (Industrial) volumes, Operating Income – GAAP 27 21 25% offset by higher 1 Adjusted EBITDA - Non GAAP 42 34 23% pricing 1 Adjusted EBITDA Margin - Non 17.5% 14.2% GAA
Slide 7: Q3 2024 Harsco Rail
Q3 2024 HARSCO RAIL • Revenue decrease SUMMARY RESULTS ($ MILLIONS) Q3 2024 Q3 2023 % attributable to lower Revenues, as reported 58 72 (20)% volumes of equipment, Operating Income – GAAP (14) (1) nmf aftermarket parts and 1 Adjusted EBITDA - Non GAAP (2) 2 nmf contracted services as 1 Adjusted EBIT
Slide 8: 2024 Outlook – Consolidated
2024 OUTLOOK – CONSOLIDATED 2024 Outlook Prior 2024 Outlook GAAP OPERATING INCOME / (LOSS) $117 - $127 million $128 - $141 million 1 ADJUSTED EBITDA $317 - $327 million $327 - $340 million GAAP DILUTED EARNINGS (LOSS) PER $(0.61) - $(0.72) $(0.42) - $(0.58) SHARE FROM CONTINUING OPERATIONS ADJUSTED
Slide 9: Q4 2024 Outlook
Q4 2024 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA expected to be between Adjusted EBITDA below $68 - 78 million prior-year quarter due to FX, contract exits, divestitures, and business mix Adjusted diluted earnings per share 1 from continuing operations is expected Adjusted EB
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: 2024 Segment Outlook
2024 SEGMENT OUTLOOK REVENUES Unchanged YoY at mid-point, excluding FX translation impacts 1 ADJUSTED EBITDA Single-digit decrease (%), including FX translation & divestitures impacts Services pricing net of any inflation, site improvements, new contracts / DRIVERS + sites - Commodities, investments
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 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 2024 2023 202
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 December 31 Decem
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 September 30, 2024: Operati
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 September 30, 2023: Operati
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 Nine Months Ended September 30, 2024: Operatin
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 Nine Months Ended September 30, 2023: Operating
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) 2024 2023 Consolidated income (loss) from continuing operations $ (11,
Slide 22: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME Nine Months Ended (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited) September 30 (In thousands) 2024 2023 Consolidated income (loss) from continuing operations $ (37,0
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 December 31 December 31 2024 2024 (In millions) Low Hig
Slide 24: Reconciliation of Non-GAAP Measures
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 Nine Months Ended September 30 September 30 (In thousands) 2024 2023 2024 2023 Net cash provided (used) by operating act
Slide 25: Reconciliation of Non-GAAP Measures
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 2024 (In millions) Low High Net cash provided by operating activities $ 91 $
Slide 26: Reconciliation of Non-GAAP Measures
RECONCILIATION OF NON-GAAP MEASURES ENVIRI CORPORATION RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES, BY SEGMENT (Unaudited) Three Months Ended September 30, 2024 Harsco Consolidated (In thousands) Environmental Clean Earth Harsco Rail Corporate Totals
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 - September 30, 2023 $ 597.0 Effects on revenues: Price/volume changes
Slide 28: Reconciliation of Non-GAAP Measures
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 - September 30, 202
Slide 29: © 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.