Enviri Corporation Reports Second Quarter 2026 Results

About this update from Enviri Corporation

Strong performance at Harsco Environmental and Rail, with each exceeding expectations in the quarter Strategic decision made to exit two European Harsco Rail ETO contracts, eliminating future execution risk, uncertainty, and cash outflows related to performance of these contracts; contract exits anticipated to conclude company's exposure to its legacy ETO contract risks (see separate news release) Second quarter revenues from Continuing Operations totaled $187 million as reported and $324 million excluding the effects of ETO contract exit adjustments, an increase of 2 percent over the prior year; historical Clean Earth results now reported as Discontinued Operations Second quarter GAAP consolidated loss from continuing operations of $297 million , including charges for exiting the Harsco Rail ETO contracts as well as transaction-related unusual items resulting from the sale of Clean Earth and spin-off Adjusted EBITDA in Q2 totaled $34 million Second quarter GAAP diluted loss per share from continuing operations of $10.70 and adjusted diluted loss per share of $0.63 Credit Agreement net leverage ratio now at 1.9x based on new capital structure 2026 Adjusted EBITDA outlook reaffirmed for Harsco Environmental and Harsco Rail PHILADELPHIA , Aug. 11, 2026 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) (the "Company") today reported second quarter 2026 results. On a GAAP basis, the second quarter of 2026 diluted loss per share from continuing operations was $10.70 , including expenses related to the sale of Clean Earth and spin-off of Harsco Environmental and Harsco Rail , adjustments related to the termination of certain Harsco Rail contracts, and restructuring costs. Adjusted diluted loss per share from continuing operations in the second quarter of 2026 was $0.63 . These figures compare with a second quarter 2025 GAAP diluted loss per share from continuing operations of $1.70 , which included contract adjustments in Harsco Rail , an asset impairment and site exit costs in Harsco Environmental, and strategic expenses, and an adjusted diluted loss per share from continuing operations of $0.84 . The GAAP consolidated loss from continuing operations for the second quarter of 2026 was $297 million , while Adjusted EBITDA excluding unusual items totaled $34 million in the quarter. "During the second quarter, our team executed well, with Harsco Environmental and Rail each delivering results above the high end of our guidance ranges while end-markets have remained subdued,” said Enviri President and CEO Russell Hochman . "In addition, we took meaningful action to advance our strategic priorities that improve our financial profile and earnings potential while strengthening Enviri’s position as a leader in our markets. These actions include the strategic decision to exit two European Rail ETO contracts, removing a source of business uncertainty and financial volatility, including cash flows related to performance under these contracts. We also concluded the initial stage of our comprehensive business review, aimed at reducing our business complexity and driving operational excellence, and we have recently begun implementing broad restructuring actions across the Company. Lastly, we are reaffirming our 2026 outlook and will continue to prioritize initiatives that will drive sustainable value creation for shareholders." Enviri Corporation—Selected Second Quarter Results ($ in millions, except per share amounts)   Q2 2026   Q2 2025 Revenues - GAAP   $ 187     $ 316   Adjusted revenues   $ 324     $ 316   Operating income/(loss) from continuing operations - GAAP   $ (244 )   $ (32 ) Income (loss) from continuing operations - GAAP   $ (297 )   $ (45 ) Diluted EPS from continuing operations - GAAP   $ (10.70 )   $ (1.70 ) Adjusted EBITDA   $ 34     $ 27   Adjusted EBITDA margin     10.4 %     8.7 % Adjusted diluted EPS from continuing operations   $ (0.63 )   $ (0.84 )                   Note: Adjusted diluted earnings (loss) per share from continuing operations, Adjusted EBITDA and Adjusted EBITDA margin presented throughout this release are adjusted for unusual items; in addition, adjusted diluted earnings per share from continuing operations is adjusted for acquisition-related amortization expense. See below for definitions of these non-GAAP measures and reconciliations to the most directly comparable GAAP financial measures. Consolidated Second Quarter Operating Results Consolidated revenues from continuing operations were $187 million . Harsco Environmental realized an increase in revenues compared with the second quarter of 2025, while revenues for Harsco Rail were essentially unchanged year-on-year when excluding the contract exit impacts on revenues. The Company's GAAP consolidated loss from continuing operations was $297 million for the second quarter of 2026, compared with a GAAP consolidated loss of $45 million in the same quarter of 2025. Meanwhile, Adjusted EBITDA totaled $34 million in the second quarter of 2026 versus $27 million in the second quarter of the prior year. The increase in adjusted earnings is attributable to Harsco Environmental. Note that these results now exclude Clean Earth (reported as Discontinued Operations) and reflect that central costs previously allocated to Clean Earth ( $1.9 million per quarter) are now included in the Corporate segment. Second Quarter Business Review Harsco Environmental ($ in millions)   Q2 2026   Q2 2025 Revenues   $ 266     $ 258   Operating income (loss) - GAAP   $ 13     $ 4   Adjusted EBITDA   $ 46     $ 40   Adjusted EBITDA margin     17.2 %     15.5 %                   Harsco Environmental revenues totaled $266 million in the second quarter of 2026, an increase of 3% compared with the prior-year quarter. This revenue increase is attributable to higher volumes (services and ecoproducts) and higher services pricing. The segment's GAAP operating income was $13 million , and Adjusted EBITDA totaled $46 million in the second quarter of 2026. These figures compare with GAAP operating income of $4 million and Adjusted EBITDA of $40 million in the prior-year period. The year-on-year change in adjusted earnings reflects the above-mentioned factors as well as internal improvement actions. As a result, Harsco Environmental's Adjusted EBITDA margin increased to 17.2% in the second quarter of 2026 versus 15.5% in the comparable quarter of 2025. Harsco Rail ($ in millions)   Q2 2026   Q2 2025 Revenues - GAAP   $ (79 )   $ 58   Adjusted revenues   $ 58     $ 58   Operating income (loss) - GAAP   $ (221 )   $ (20 ) Adjusted EBITDA   $ (5 )   $ (3 ) Adjusted EBITDA margin   (8.0 )%   (5.7 )%           Harsco Rail revenues in the second quarter of 2026 totaled $(79) million . Excluding the adjustments resulting from the contract exits, revenues were $58 million , or unchanged year-over-year, as higher aftermarket volumes were offset by lower equipment and contracted services revenues. The segment's GAAP operating loss was $221 million , and Adjusted EBITDA loss was $5 million in the second quarter of 2026. These figures compare with a GAAP operating loss of $20 million and an Adjusted EBITDA loss of $3 million in the prior-year period. The year-on-year change in adjusted earnings is attributable to the above factors as well as a change in business mix. Cash Flow Net cash used by operating activities was $297 million in the second quarter of 2026, compared with net cash provided by operating activities of $22 million in the prior-year period. Adjusted free cash flow was $(9) million in the second quarter of 2026, compared with $(39) million in the prior-year period (excluding Clean Earth and any transaction-related expenditures, which include the repayment of the Company's accounts receivable securitization facility). The change in adjusted free cash flow compared with the prior-year quarter is attributable to higher cash earnings (adjusted for unusual items), working capital improvements, and lower net capital expenditures in Harsco Environmental and Rail. 2026 Outlook The Company is reaffirming its 2026 Adjusted EBITDA guidance for Harsco Environmental and Harsco Rail , with key business drivers as follows: Harsco Environmental Adjusted EBITDA of $170 million to $180 million , which is modestly above prior-year results at the mid-point of the range. Higher services and products demand, along with new sites and improvement initiatives, are expected to be offset by site exits and certain 2025 items that are not anticipated to repeat in 2026 (such as the recovery of certain sales tax expenses in Brazil ). Harsco Rail Adjusted EBITDA of $(26) million to $(19) million , which is below 2025 as a result of lower standard equipment and contracted services demand and related manufacturing inefficiencies, partially offset by cost-out activities and benefits. Conference Call The Company will hold a conference call today at 9.00 a.m. Eastern Time to discuss its results and respond to questions from the investment community. Those who wish to listen to the conference call webcast should visit investors.enviri.com, or by dialing (844) 539-1331 or (412) 652-1264 for international callers. Please ask to join the Enviri Corporation call. Listeners are advised to dial in approximately ten minutes prior to the call. If you are unable to listen to the live call, the webcast will be archived on the Company’s website. Forward-Looking Statements The nature of the Company's business, together with the number of countries in which it operates, subject it to changing economic, competitive, regulatory and technological conditions, risks and uncertainties. In accordance with the "safe harbor" provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, the Company provides the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the results contemplated by forward-looking statements, including the expectations and assumptions expressed or implied herein. Forward-looking statements contained herein could include, among other things, statements regarding the expected timing, completion and effects of the transactions contemplated by the Merger Agreement and the Separation Agreement, including the sale of Clean Earth and the spin-off of New Enviri; statements about management's confidence in and strategies for performance; expectations for new and existing products, technologies and opportunities; and expectations regarding growth, sales, cash flows, and earnings, including those under "2026 Outlook". Forward-looking statements can be identified by the use of such terms as "may," "could," "expect," "anticipate," "intend," "believe," "likely," "estimate," "outlook," "plan," "contemplate," "project," "target" or other comparable terms. Factors that could cause actual results to differ, perhaps materially, from those implied by forward-looking statements include, but are not limited to: (1) the possibility that the Merger and Separation may not ultimately achieve the expected benefits; (2) the Company's ability to effectively implement its business strategy and improvement initiatives and realize the expected benefits therefrom; (3) the Company's ability to successfully enter into new contracts and complete new acquisitions, divestitures, or strategic ventures in the time-frame contemplated or at all; (4) the Company’s inability to comply with applicable environmental and safety laws and regulations; (5) the Company’s inability to obtain, renew, or maintain compliance with its operating permits or license agreements; (6) various economic, business, and regulatory risks associated with the industries in which the Company operates; (7) the seasonal nature of the Company's business; (8) risks caused by customer concentration, fixed-price and long-term customer contracts, especially those related to complex engineered equipment and the competitive nature of the industries in which the Company operates; (9) the outcome of any disputes with customers, contractors and subcontractors; (10) the financial condition of the Company's customers, including the ability of customers (especially those that may be highly leveraged or have inadequate liquidity) to maintain their credit availability; (11) higher than expected claims under the Company’s insurance policies, or losses that are uninsurable or that exceed existing insurance coverage; (12) market and competitive changes, including pricing pressures, market demand and acceptance for new products, services and technologies; changes in currency exchange rates, interest rates, commodity and fuel costs and capital costs; (13) the Company's ability to negotiate, complete, and integrate strategic transactions and joint ventures with strategic partners; (14) the Company’s ability to attract and effectively retain key management and employees, including due to unanticipated changes to demand for the Company’s services, disruptions associated with labor disputes, and increased operating costs associated with union organizations; (15) the Company's inability or failure to protect its intellectual property rights from infringement in one or more of the many countries in which the Company operates; (16) failure to effectively prevent, detect or recover from breaches in the Company's cybersecurity infrastructure; (17) changes in the worldwide business environment in which the Company operates, including changes in general economic and industry conditions and cyclical slowdowns impacting the steel and aluminum industries; (18) fluctuations in exchange rates between the U.S . dollar and other currencies in which the Company conducts business; (19) unforeseen business disruptions in one or more of the many countries in which the Company operates due to changes in economic conditions, changes in governmental laws and regulations, including environmental, occupational health and safety, tax and import tariff standards and amounts; political instability, civil disobedience, armed hostilities, public health issues or other calamities; (20) liability for and implementation of environmental remediation matters; (21) product liability and warranty claims associated with the Company’s operations; (22) the Company’s ability to comply with financial covenants and obligations to financial counterparties; (23) the Company’s outstanding indebtedness and exposure to derivative financial instruments that may be impacted by, among other factors, changes in interest rates; (24) tax liabilities and changes in tax laws; (25) changes in the performance of equity and bond markets that could affect, among other things, the valuation of the assets in the Company's pension plans and the accounting for pension assets, liabilities and expenses; (26) risk and uncertainty associated with intangible assets; and (27) the other risk factors listed from time to time in the Company's SEC reports. A further discussion of these, along with other potential risk factors, can be found under the heading, "Risk Factors," of the Company's Information Statement, dated May 8, 2026 , and attached as Exhibit 99.1 to the Company's Current Report on Form 8-K furnished to the SEC on May 11, 2026 . The Company cautions that these factors may not be exhaustive and that many of these factors are beyond the Company's ability to control or predict. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The Company undertakes no duty to update forward-looking statements except as may be required by law.  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-titled measurements employed by other companies. The most comparable GAAP measures are included within the definitions below and reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are included at the end of this press release. Adjusted diluted earnings (loss) per share from continuing operations: Adjusted diluted earnings (loss) per share from continuing operations is a non-GAAP financial measure and consists of diluted earnings (loss) per share from continuing operations adjusted for unusual items and acquisition-related intangible asset amortization expense. It is important to note that such intangible assets contribute to revenue generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. The Company’s management believes Adjusted diluted earnings (loss) per share from continuing operations is useful to investors because it provides an overall understanding of the Company’s historical and future prospects. Exclusion of unusual items permits evaluation and comparison of results for the Company’s core business operations, and it is on this basis that management internally assesses the Company’s performance. Exclusion of acquisition-related intangible asset amortization expense, the amount of which can vary by the timing, size, and nature of the Company’s acquisitions, facilitates more consistent internal comparisons of operating results over time between the Company’s newly acquired and long-held businesses, and comparisons with both acquisitive and non-acquisitive peer companies. Adjusted EBITDA: Adjusted EBITDA is a non-GAAP financial measure and consists of income (loss) from continuing operations adjusted to add back income tax expense; equity income of unconsolidated entities, net; net interest expense; defined benefit pension income (expense); facility fees and debt-related income (expense); stock-based compensation expense; and depreciation and amortization (excluding amortization of deferred financing costs); and excludes unusual items. Segment Adjusted EBITDA consists of operating income from continuing operations adjusted to exclude unusual items and add back depreciation and amortization (excluding amortization of deferred financing costs). The sum of the Segments’ Adjusted EBITDA and Corporate Adjusted EBITDA (which is adjusted for all stock-based compensation expense) equals consolidated Adjusted EBITDA. The Company‘s management believes Adjusted EBITDA is meaningful to investors because management reviews Adjusted EBITDA in assessing and evaluating performance. Adjusted free cash flow: Adjusted free cash flow is a non-GAAP financial measure and consists of net cash provided (used) by operating activities less capital expenditures and expenditures for intangible assets; and plus capital expenditures for strategic ventures, total proceeds from sales of assets and certain transaction-related / debt-refinancing expenditures. Adjusted free cash flow also excludes the impact of the Clean Earth business. The Company's management believes that Adjusted free cash flow is important to management and useful to investors as a supplemental measure as it indicates the cash flow available for working capital needs, repay debt obligations, invest in future growth through new business development activities, conduct strategic acquisitions or other uses of cash. It is important to note that Adjusted free cash flow does not represent the total residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements and settlements of foreign currency forward exchange contracts, are not deducted from this measure. This presentation provides a basis for comparison of ongoing operations and prospects. About Enviri Enviri is a global market leader providing environmental and operational solutions to the metal and rail industries. Based in Philadelphia, Pennsylvania , and operating in more than 30 countries, the company leverages over 170 years of industrial expertise to help customers improve operational performance, recover value from byproducts, enhance sustainability, and maintain critical infrastructure. Enviri's divisions, Harsco Environmental and Harsco Rail , combine deep operational capabilities with innovative technologies and global scale to deliver long-term value for customers, communities, and shareholders. Learn more at enviri.com.                   ENVIRI CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)                                       Three Months Ended   Six Months Ended     June 30   June 30 (In thousands, except per share amounts)     2026       2025       2026       2025   Revenues from continuing operations:                 Service revenues   $ 257,856     $ 258,959     $ 516,126     $ 500,568   Product revenues     65,985       57,013       131,763       128,457   Product revenues - Rail contract exit-related adjustments     (136,499 )     —       (136,499 )     —   Total revenues     187,342       315,972       511,390       629,025   Costs and expenses from continuing operations:                 Cost of services sold     214,536       214,903       427,723       413,714   Cost of products sold     60,139       68,339       122,403       120,717   Cost of products sold - Rail contract exit-related adjustments     70,890       —       70,890       —   Selling, general and administrative expenses     49,062       53,773       101,430       105,844   Research and development expenses     654       775       1,072       1,309   Property, plant and equipment impairment charge     —       7,386       —       7,386   Other expense (income), net     36,484       2,379       38,180       6,590   Total costs and expenses     431,765       347,555       761,698       655,560   Operating income (loss) from continuing operations     (244,423 )     (31,583 )     (250,308 )     (26,535 ) Interest income     580       414       1,038       868   Interest expense     (8,239 )     (8,739 )     (16,766 )     (17,445 ) Facility fees and debt-related income (expense)     (318 )     (154 )     (538 )     (570 ) Defined benefit pension income (expense)     (3,918 )     (5,555 )     (7,854 )     (10,756 ) Income (loss) from continuing operations before income taxes and equity in income     (256,318 )     (45,617 )     (274,428 )     (54,438 ) Income tax benefit (expense) from continuing operations     (40,548 )     905       (45,694 )     4,325   Equity in income (loss) of unconsolidated entities, net     50       44       73       72   Income (loss) from continuing operations     (296,816 )     (44,668 )     (320,049 )     (50,041 ) Discontinued operations:                 Income (loss) from discontinued operations     (91,927 )     2,182       (108,172 )     4,753   Income tax benefit (expense) from discontinued operations     (5,767 )     (4,269 )     24,173       (9,278 ) Income (loss) from discontinued operations, net of tax     (97,694 )     (2,087 )     (83,999 )     (4,525 ) Net income (loss)     (394,510 )     (46,755 )     (404,048 )     (54,566 ) Less: Net loss (income) attributable to noncontrolling interests     (1,485 )     (1,058 )     (2,612 )     (2,259 ) Net income (loss) attributable to Enviri Corporation   $ (395,995 )   $ (47,813 )   $ (406,660 )   $ (56,825 ) Amounts attributable to Enviri Corporation common stockholders:                 Income (loss) from continuing operations, net of tax   $ (298,301 )   $ (45,726 )   $ (322,661 )   $ (52,300 ) Income (loss) from discontinued operations, net of tax     (97,694 )     (2,087 )     (83,999 )     (4,525 ) Net income (loss) attributable to Enviri Corporation common stockholders   $ (395,995 )   $ (47,813 )   $ (406,660 )   $ (56,825 )                   Weighted-average shares of common stock outstanding (a)     27,877       26,876       27,655       26,827   Basic earnings (loss) per common share attributable to Enviri Corporation common stockholders: Continuing operations   $ (10.70 )   $ (1.70 )   $ (11.67 )   $ (1.95 ) Discontinued operations   $ (3.50 )   $ (0.08 )     (3.04 )     (0.17 ) Basic earnings (loss) per share attributable to Enviri Corporation common stockholders (b)   $ (14.21 )   $ (1.78 )   $ (14.70 )   $ (2.12 )                   Diluted weighted-average shares of common stock outstanding (a)     27,877       26,876       27,655       26,827   Diluted earnings (loss) per common share attributable to Enviri Corporation common stockholders: Continuing operations   $ (10.70 )   $ (1.70 )   $ (11.67 )   $ (1.95 ) Discontinued operations   $ (3.50 )   $ (0.08 )     (3.04 )     (0.17 ) Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders (b)   $ (14.21 )   $ (1.78 )   $ (14.70 )   $ (2.12 ) (a)   Weighted-average shares outstanding and earnings per share amounts for periods prior to the completion of the spin off have been retrospectively adjusted to reflect the impact of the Transactions on the Company's capital structure. (b)   Earnings (loss) per share attributable to Enviri Corporation common stockholders is calculated based on actual amounts. As a result, these per share amounts may not total due to rounding. ENVIRI CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited)                   (In thousands)   June 30 2026   December 31 2025 ASSETS         Current assets:         Cash and cash equivalents   $ 253,427     $ 103,487   Restricted cash     49,915       21,677   Trade accounts receivable, net     249,730       267,439   Other receivables     28,938       43,627   Inventories     134,094       171,718   Current portion of contract assets     28,277       26,968   Prepaid expenses     30,636       52,521   Current portion of assets held-for-sale     —       24,173   Other current assets     15,852       9,256   Total current assets     790,869       720,866   Property, plant and equipment, net     405,394       424,099   Right-of-use assets, net     30,043       34,267   Goodwill     374,579       379,381   Intangible assets, net     14,723       16,095   Retirement plan assets     56,764       55,743   Deferred income tax assets     10,078       45,352   Assets held-for-sale     —       1,013,055   Other assets     40,336       53,931   Total assets   $ 1,722,786     $ 2,742,789   LIABILITIES         Current liabilities:         Short-term borrowings   $ 79     $ 11,490   Current maturities of long-term debt     8,469       14,373   Accounts payable     154,917       163,989   Accrued compensation     41,055       43,130   Income taxes payable     5,845       4,268   Reserve for contracts     189,525       61,037   Current portion of advances on contracts     8,763       7,982   Current portion of operating lease liabilities     10,551       11,654   Derivative liabilities     12,757       20,839   Current portion of liabilities held-for-sale     —       174,265   Other current liabilities     119,237       121,182   Total current liabilities     551,198       634,209   Long-term debt     380,539       1,480,072   Retirement plan liabilities     23,732       26,208   Operating lease liabilities     20,626       23,373   Environmental liabilities     19,105       19,105   Deferred tax liabilities     5,976       5,766   Liabilities held-for-sale     —       214,314   Other liabilities     38,923       44,155   Total liabilities     1,040,099       2,447,202   ENVIRI CORPORATION STOCKHOLDERS’ EQUITY         Common stock     —       149,519   Additional paid-in capital     680       273,436   Accumulated other comprehensive loss     (495,267 )     (514,481 ) Retained earnings     1,133,668       1,211,234   Treasury stock     —       (864,646 ) Total Enviri Corporation stockholders’ equity     639,081       255,062   Noncontrolling interests     43,606       40,525   Total equity     682,687       295,587   Total liabilities and equity   $ 1,722,786     $ 2,742,789   ENVIRI CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited )                       Three Months Ended June 30   Six Months Ended June 30 (In thousands)     2026       2025       2026       2025   Cash flows from operating activities:                 Net income (loss)   $ (394,510 )   $ (46,755 )   $ (404,048 )   $ (54,566 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation     36,410       37,901       76,838       74,343   Amortization     5,809       7,561       13,653       14,964   Deferred income tax (benefit) expense     40,580       (5,176 )     10,419       (7,999 ) Equity in (income) loss of unconsolidated entities, net     (50 )     (44 )     (73 )     (72 ) Right-of-use assets     6,724       7,711       15,067       15,127   Property, plant and equipment impairment charge     —       7,386       —       7,386   Stock-based compensation     9,144       5,716       11,473       9,760   Contract exit charges     74,969       —       74,969       —   Other, net     2,852       (2,512 )     1,177       (3,149 ) Changes in assets and liabilities, net of acquisitions and dispositions of businesses:             Accounts receivable     (153,786 )     (763 )     (170,120 )     (13,887 ) Inventories     9,239       695       16,626       (7,283 ) Contract assets     2,046       5,957       (4,517 )     12,413   Accounts payable     (36,652 )     1,578       (20,356 )     10,716   Accrued interest payable     (4,695 )     7,470       (11,423 )     539   Accrued compensation     (24,765 )     3,672       (16,717 )     (11,433 ) Advances on contracts and other customer advances     (154 )     (3,554 )     534       (18,324 ) Operating lease liabilities     (6,307 )     (7,643 )     (14,630 )     (15,078 ) Retirement plan liabilities, net     3,536       5,061       7,066       9,717   Reserve for contracts     132,923       2,570       129,519       (6,477 ) Other assets and liabilities     (251 )     (4,858 )     9,141       11,876   Net cash (used) provided by operating activities     (296,938 )     21,973       (275,402 )     28,573   Cash flows from investing activities:                 Purchases of property, plant and equipment     (34,660 )     (39,035 )     (68,387 )     (60,659 ) Proceeds from CE Holdings Note     1,724,804       —       1,724,804       —   Deposit for commercial commitments     (25,000 )     —       (25,000 )     —   Proceeds from sales of assets     5,069       2,317       7,019       3,764   Expenditures for intangible assets     (23 )     (44 )     (208 )     (51 ) Net proceeds (payments) from settlement of foreign currency forward exchange contracts     (442 )     (6,033 )     852       (4,296 ) Net cash (used) provided by investing activities     1,669,748       (42,795 )     1,639,080       (61,242 ) Cash flows from financing activities:                 Short-term borrowings, net     (7,847 )     3,019       (7,738 )     5,831   Borrowings and repayments under Revolving Credit Facility, net     (557,000 )     32,000       (526,000 )     62,000   Repayments of Term Loan     (105,556 )     (1,250 )     (106,806 )     (2,500 ) Repayments of Senior Notes     (475,000 )     —       (475,000 )     —   Cash paid for finance leases and other long-term debt     (5,059 )     (5,511 )     (10,607 )     (9,669 ) Settlement of stock appreciation rights     (16,529 )     —       (16,529 )     —   Stock-based compensation - Employee taxes paid     (21,857 )     (257 )     (38,109 )     (1,534 ) Other financing activities, net     (2,802 )     —       (2,802 )     —   Net cash (used) provided by financing activities     (1,191,650 )     28,001       (1,183,591 )     54,128   Effect of exchange rate changes on cash and cash equivalents, including restricted cash     706       1,927       (2,093 )     1,918   Net increase (decrease) in cash and cash equivalents, including restricted cash     181,866       9,106       177,994       23,377   Cash and cash equivalents, including restricted cash and cash included in Current portion of assets held-for-sale, at beginning of period     121,476       104,429       125,348       90,158   Cash and cash equivalents, including restricted cash, at end of period   $ 303,342     $ 113,535     $ 303,342     $ 113,535   ENVIRI CORPORATION REVIEW OF OPERATIONS BY SEGMENT (Unaudited)       Three Months Ended     June 30, 2026   June 30, 2025 (In thousands)   Revenues   Operating Income (Loss)   Revenues   Operating Income (Loss) Harsco Environmental   $ 266,160     $ 12,976     $ 258,009   $ 4,251   Harsco Rail     (78,818 )     (220,846 )     57,963     (20,325 ) Corporate     —       (36,553 )     —     (15,509 ) Consolidated Totals   $ 187,342     $ (244,423 )   $ 315,972   $ (31,583 )                                                           Six Months Ended     June 30, 2026   June 30, 2025 (In thousands)   Revenues   Operating Income (Loss)   Revenues   Operating Income (Loss) Harsco Environmental   $ 522,877     $ 23,005     $ 501,115   $ 14,324   Harsco Rail     (11,487 )     (224,043 )     127,910     (13,187 ) Corporate     —       (49,270 )     —     (27,672 ) Consolidated Totals   $ 511,390     $ (250,308 )   $ 629,025   $ (26,535 ) 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   Six Months Ended     June 30   June 30 (in thousands, except per share amounts)     2026       2025       2026       2025   Income (loss) from continuing operations, net of tax, as reported   $ (298,301 )   $ (45,726 )   $ (322,661 )   $ (52,300 )                   Adjustments:                 Change in provision for forward losses and other contract-related costs on certain contracts (a)     —       15,854       —       5,402   Loss on contract exits (a)     207,390       —       207,390       —   Strategic costs (b)(c)     29,327       1,325       30,773       2,850   Restructuring and related costs (d)     9,911       —       10,559       3,333   Contract termination charge (b)     —       (2,249 )     —       (2,249 ) Site exit costs (c)     —       10,281       —       10,281   Income tax impact from adjustments above (e)     33,256       (2,649 )     33,256       (3,295 ) Adjusted income (loss) from continuing operations, including acquisition amortization expense     (18,417 )     (23,164 )     (40,683 )     (35,978 ) Acquisition amortization expense, net of tax (f)     804       630       1,652       1,189   Adjusted income (loss) from continuing operations, net of tax   $ (17,613 )   $ (22,534 )   $ (39,031 )   $ (34,789 )                   Diluted weighted average shares of common stock outstanding     27,877       26,876       27,655       26,827   Diluted earnings (loss) per share from continuing operations, as reported (g)   $ (10.70 )   $ (1.70 )   $ (11.67 )   $ (1.95 ) Adjusted diluted earnings (loss) per share from continuing operations (g)   $ (0.63 )   $ (0.84 )   $ (1.41 )   $ (1.30 ) (a)   Classified in Total revenues, which included a $136.5 million decrease for the three and six months ended June 30, 2026 and a $12.2 million increase for the six months ended June 30, 2025 related to adjustments for certain Harsco Rail contracts, as well as in Cost of products sold, which included a $70.9 million increase in expense for the three and six months ended June 30, 2026 and a $15.9 million and $17.6 million increase in expense for the three and six months ended June 30, 2025 , respectively, related to adjustments for certain Harsco Rail contracts. (b)   Classified in Selling, general and administrative expenses for costs incurred during the three and six months ended June 30, 2025 . (c)   Classified in Other expense (income), net for costs incurred during the three and six months ended June 30, 2026 . (d)   Classified in Other expense (income), net for costs incurred during the three and six months ended June 30, 2026 and 2025. (e)   Unusual items are tax-effected at the global effective tax rate before discrete items in effect during the year the unusual item is recorded. (f)   Pre-tax acquisition amortization expense was $0.8 million and $1.7 million for the three and six months ended June 30, 2026 , respectively, and $0.7 million and $1.3 million for the three and six months ended June 30, 2025 , respectively. (g)   Amounts above are rounded and recalculation may not yield precise results. ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited)   (In thousands)   Harsco Environmental   Harsco Rail   Corporate   Consolidated Totals                   Three Months Ended June 30, 2026 :             Operating income (loss), as reported   $ 12,976     $ (220,846 )   $ (36,553 )   $ (244,423 ) Strategic costs     2,265       —       27,062       29,327   Restructuring and related costs     2,485       7,426       —       9,911   Contract exits     —       207,390       —       207,390                     Operating income (loss), adjusted     17,726       (6,030 )     (9,491 )     2,205   Stock-based compensation     —       —       1,652       1,652   Depreciation     27,438       1,185       231       28,854   Amortization     568       245       —       813   Adjusted EBITDA   $ 45,732     $ (4,600 )   $ (7,608 )   $ 33,524   Revenues, as reported   $ 266,160     $ (78,818 )       $ 187,342   Contract exits     —       136,499           136,499   Revenues, adjusted   $ 266,160     $ 57,681         $ 323,841   Adjusted EBITDA margin (%)     17.2 %   (8.0 )%         10.4 %                   Three Months Ended June 30, 2025 :             Operating income (loss), as reported   $ 4,251     $ (20,325 )   $ (15,509 )   $ (31,583 ) Strategic costs     —       —       1,325       1,325   Contract termination charge     (2,249 )     —       —       (2,249 ) Change in provision for forward losses and other contract-related costs on certain contracts     —       15,854       —       15,854   Site exit costs     10,281       —       —       10,281   Operating income (loss), excluding unusual items     12,283       (4,471 )     (14,184 )     (6,372 ) Stock-based compensation     —       —       4,736       4,736   Depreciation     27,046       1,051       255       28,352   Amortization     571       106       —       677   Adjusted EBITDA   $ 39,900     $ (3,314 )   $ (9,193 )   $ 27,393   Revenues, as reported   $ 258,009     $ 57,963         $ 315,972   Adjusted EBITDA margin (%)     15.5 %   (5.7 )%         8.7 % ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA BY SEGMENT TO OPERATING INCOME (LOSS), AS REPORTED, BY SEGMENT (Unaudited)                   (In thousands)   Harsco Environmental   Harsco Rail   Corporate   Consolidated Totals                   Six Months Ended June 30, 2026 :                 Operating income (loss), as reported   $ 23,005     $ (224,043 )   $ (49,270 )   $ (250,308 ) Strategic costs     2,265       —       28,508       30,773   Restructuring and related costs     2,485       8,074       —       10,559   Contract exits     —       207,390       —       207,390   Operating income (loss), adjusted     27,755       (8,579 )     (20,762 )     (1,586 ) Stock-based compensation     —       —       4,174       4,174   Depreciation     55,334       2,381       464       58,179   Amortization     1,140       530       —       1,670   Adjusted EBITDA   $ 84,229     $ (5,668 )   $ (16,124 )   $ 62,437   Revenues, as reported   $ 522,877     $ (11,487 )       $ 511,390   Contract exits     —       136,499           136,499   Revenues, adjusted   $ 522,877     $ 125,012         $ 647,889   Adjusted EBITDA margin (%)     16.1 %   (4.5 )%         9.6 %                   Six Months Ended June 30, 2025 :             Operating income (loss), as reported   $ 14,324     $ (13,187 )   $ (27,672 )   $ (26,535 ) Change in provision for forward losses and other contract-related costs on certain contracts     —       5,402       —       5,402   Strategic costs     —       —       2,850       2,850   Contract termination charge     (2,249 )     —       —       (2,249 ) Site exit costs     10,281       —       —       10,281   Restructuring and related costs     3,333       —       —       3,333   Operating income (loss), adjusted     25,689       (7,785 )     (24,822 )     (6,918 ) Stock-based compensation     —       —       7,971       7,971   Depreciation     52,555       2,083       536       55,174   Amortization     1,111       173       —       1,284   Adjusted EBITDA   $ 79,355     $ (5,529 )   $ (16,315 )   $ 57,511   Revenues, as reported   $ 501,115     $ 127,910         $ 629,025   Adjusted EBITDA margin (%)     15.8 %   (4.3 )%         9.1 % ENVIRI CORPORATION RECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited)               Three Months Ended June 30 (In thousands)     2026       2025   Consolidated income (loss) from continuing operations   $ (296,816 )   $ (44,668 )           Add back (deduct):         Equity in (income) loss of unconsolidated entities, net     (50 )     (44 ) Income tax expense (benefit) from continuing operations     40,548       (905 ) Defined benefit pension expense (income)     3,918       5,555   Facility fees and debt-related expense (income)     318       154   Interest expense     8,239       8,739   Interest income     (580 )     (414 ) Depreciation     28,854       28,352   Amortization     813       677   Stock-based compensation     1,652       4,736             Unusual items:         Change in provision for forward losses and other contract-related costs on certain contracts     —       15,854   Strategic costs     29,327       1,325   Restructuring and related costs     9,911       —   Contract exits     207,390       —   Contract termination charge     —       (2,249 ) Site exit costs     —       10,281   Consolidated Adjusted EBITDA   $ 33,524     $ 27,393   ENVIRI CORPORATION RECONCILIATION OF ADJUSTED EBITDA TO CONSOLIDATED INCOME (LOSS) FROM CONTINUING OPERATIONS AS REPORTED (Unaudited)                   Six Months Ended June 30 (In thousands)     2026       2025   Consolidated income (loss) from continuing operations   $ (320,049 )   $ (50,041 )           Add back (deduct):         Equity in (income) loss of unconsolidated entities, net     (73 )     (72 ) Income tax expense (benefit) from continuing operations     45,694       (4,325 ) Defined benefit pension expense     7,854       10,756   Facility fee and debt-related expense     538       570   Interest expense     16,766       17,445   Interest income     (1,038 )     (868 ) Depreciation     58,179       55,174   Amortization     1,670       1,284   Stock-based compensation     4,174       7,971             Unusual items:         Change in provision for forward losses and other contract-related costs     —       5,402   Strategic costs     30,773       2,850   Restructuring and related costs     10,559       3,333   Contract exits     207,390       —   Contract termination charge     —       (2,249 ) Site exit costs     —       10,281   Adjusted EBITDA   $ 62,437     $ 57,511   ENVIRI CORPORATION RECONCILIATION OF PROJECTED ADJUSTED EBITDA BY SEGMENT USING MID-RANGE POINTS FOR EACH TO PROJECTED OPERATING INCOME (LOSS) BY SEGMENT (Unaudited)           (Amounts in millions)   Harsco Environmental   Harsco Rail           Projected Twelve Months Ending December 31, 2026         Projected operating income (loss)   $ 54     $ (244 ) Strategic costs     2       —   Restructuring and related costs     2       8   Contract exits     —       207   Operating income (loss), adjusted     59       (28 ) Depreciation     114       5   Amortization     2       1   Projected adjusted EBITDA   $ 175     $ (23 ) Adjusted revenues   $ 1,018     $ 227   Adjusted EBITDA margin (%)     17.2 %   (9.9 )% ENVIRI CORPORATION RECONCILIATION OF ADJUSTED FREE CASH FLOW TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (Unaudited)                       Three Months Ended   Six Months Ended     June 30   June 30 (In thousands)     2026       2025       2026       2025   Net cash provided (used) by operating activities   $ (296,938 )   $ 21,973     $ (275,402 )   $ 28,573   Less capital expenditures     (34,660 )     (39,035 )     (68,387 )     (60,659 ) Less expenditures for intangible assets     (23 )     (44 )     (208 )     (51 ) Plus capital expenditures for strategic ventures (a)     193       786       340       1,135   Plus total proceeds from sales of assets (b)     5,069       2,317       7,019       3,764   Plus transaction-related expenditures (c)     131,943       —       136,268       —   Plus repayment of revolving trade receivables securitization facility (d)     160,000       —       160,000       —   Clean Earth free cash flow deficit (benefit)     25,547       (25,226 )     8,089       (45,069 ) Adjusted free cash flow   $ (8,869 )   $ (39,229 )   $ (32,281 )   $ (72,307 ) (a)   Capital expenditures for strategic ventures represent the partner’s share of capital expenditures in certain ventures consolidated in the Company’s consolidated financial statements. (b)   Asset sales are a normal part of the business model, primarily for the Harsco Environmental segment. (c)   Includes expenditures directly related to the Company's divestiture transactions and other strategic costs incurred at Corporate, including payments made to certain employees as part of the Company's long-term incentive plan. (d)   Includes the repurchase of accounts receivable related to the Company's revolving trade receivables securitization facility that was required to be terminated with the sale of Clean Earth. Investor Contact Media Contact David Martin Karen Tognarelli +1.267.946.1407 +1.717.480.6145 [email protected] [email protected] Source: Enviri 2026 GlobeNewswire, Inc., source Press Releases

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