Slide 1: Q2 2023 Quarterly Results and Outlook Conference Call
Q2 2023 Quarterly Results and Outlook Conference Call August 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 • Enviri Team delivered strong quarterly results in Q2 • Businesses benefited from higher volumes within select markets, better operating cost performance and price increases • Stericycle disputes settled amicably and to the parties' mutual satisfaction • 2023 Adjusted EBITDA Outlook
Slide 4: Q2 2023 Financial Summary
Q2 2023 FINANCIAL SUMMARY KEY PERFORMANCE INDICATOR $ In millions except EPS;Continuing Operations Q2 2023 Q2 2022 CHANGE • Revenues +8% YoY Revenues, as reported 520 481 8% • Adjusted EBITDA above guidance, with both CE and HE contributing Operating Income – GAAP 24 (97) 125% • Adjusted EBITDA high
Slide 5: Q2 2023 Harsco Environmental
Q2 2023 HARSCO ENVIRONMENTAL • Revenues increased 4% SUMMARY RESULTS ($ MILLIONS) Q2 2023 Q2 2022 % YoY due to both higher Revenues, as reported 290 278 4% volumes and price Operating Income – GAAP 1 13 24 (46)% Adjusted EBITDA - Non GAAP 53.2 52.7 1% 1 Adjusted EBITDA Margin - Non 18.4% 19.0% GAAP
Slide 6: Q2 2023 Clean Earth
Q2 2023 CLEAN EARTH • Revenues increased SUMMARY RESULTS ($ MILLIONS) Q2 2023 Q2 2022 % 13% compared with Revenues, as reported 231 203 13% prior-year quarter due Operating Income – GAAP 23 (112) nmf 1 to higher volumes and Adjusted EBITDA - Non GAAP 35 5 nmf 1 Adjusted EBITDA Margin - Non services
Slide 7: 2023 Outlook – Consolidated
3 2023 OUTLOOK – CONSOLIDATED 2023 Outlook Prior 2023 Outlook 2022 Actuals GAAP OPERATING INCOME / (LOSS) $97 - 112M $101 - 116M $(57)M 1 ADJUSTED EBITDA $270 - 285M $260 - 275M $229M GAAP DILUTED EARNINGS (LOSS) PER $(0.42) - $(0.58) $(0.33) - $(0.54) $(1.73) SHARE FROM CONTINUING OPERATIONS ADJUST
Slide 8: Q3 2023 Outlook
2 Q3 2023 OUTLOOK YEAR-OVER-YEAR CONSIDERATIONS INCLUDE: 1 Adjusted EBITDA modestly Adjusted EBITDA expected to be between above prior-year quarter $ $ due to higher eco-products 67M - 74M contributions, new contracts and internal improvements Adjusted diluted earnings per share 1 from continuing op
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: 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 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 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 2023 2022 2023 2022 Dilu
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) Income related to a gain on the repurcha
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 September 30
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 June 30, 2023: Operating income (loss), a
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 June 30, 2022: Operating income (loss), a
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 Six Months Ended June 30, 2023: Operating income (loss), as
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 Six Months Ended June 30, 2022: Operating income (loss), as
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) 2023 2022 Consolidated income (loss) from continuing operations $ (18,607)
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) 2023 2022 Consolidated income (loss) from continuing operations $ (27,229) $
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 September 30 December 31 2023 2023 (In millions) Lo
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 $ 61 $ 69 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 Six Months Ended June 30 June 30 (In thousands) 2023 2022 2023 2022 Net cash provided (used) by operating activities $ (8,722) $ 152,054
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 (a) PROVIDED BY OPERATING ACTIVITIES (Unaudited) Projected Twelve Months Ending December 31 2023 (In millions) Low High Net cash provided by operating activities $ 151 $ 181 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.