Enviri Corporation reported a decline in financial performance for the second quarter of 2025, with total revenues of $562.3 million, down 7.8% from $610.0 million in the same period last year. The decrease was attributed to lower revenues across its segments, particularly in Harsco Environmental and Harsco Rail, which saw revenue drops of 11.9% and 28.4%, respectively. The Clean Earth segment, however, experienced a slight increase in revenue, rising to $246.3 million from $236.1 million. The company's operating loss for the quarter was $7.2 million, a significant decline from an operating income of $31.3 million in Q2 2024.
The company's financial results reflect several strategic and operational changes. Enviri's decision to exit a downstream products business in France resulted in a $7.4 million impairment charge, contributing to the overall operating loss. Additionally, the company faced challenges from new and lost contracts, which negatively impacted operating income by $8.7 million in the quarter. The divestitures of Performix and Reed also had an unfavorable effect, reducing operating income by $2.9 million. In contrast, the Clean Earth segment benefited from favorable pricing and volume changes, which increased operating income by $5.3 million.
Enviri's operational metrics showed mixed results. The company reported a total of 80,629 weighted-average shares outstanding, with a diluted loss per share of $0.59 for the quarter. The company’s cash and cash equivalents increased to $113.5 million as of June 30, 2025, compared to $107.5 million at the end of the previous year. The company also maintained compliance with its debt covenants, with a net debt to consolidated adjusted EBITDA ratio of 4.75x, below the maximum allowable of 5.00x.
Looking ahead, Enviri is exploring strategic alternatives, including a potential separation of its Clean Earth business. The company remains focused on its core operations while navigating challenges such as fluctuating market conditions and regulatory changes. Enviri's management expressed confidence in the company's ability to adapt and maintain liquidity, supported by cash flows from operations and available borrowings under its credit facilities. The company anticipates that its ongoing efforts to optimize operations and manage costs will position it for improved performance in the future.
About ENVIRI Corp
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