Enviri Corporation Reports $2.34 Billion Revenue for Fiscal Year 2024, Down 1% from 2023

Enviri Corporation reported a total revenue of $2.34 billion for the fiscal year ending December 31, 2024, a slight decrease of 1% from $2.37 billion in 2023. The company's financial performance was impacted by a decline in revenues from its Harsco Environmental segment, which fell to $1.11 billion from $1.14 billion, while Clean Earth saw a modest increase to $939.8 million from $928.3 million. Harsco Rail's revenues also decreased to $291.3 million from $296.8 million. The overall operating income from continuing operations dropped significantly to $31.7 million, down 60.3% from $79.9 million in the previous year, primarily due to increased costs and impairment charges.

The company underwent significant strategic changes during the year, including the divestiture of its Performix and Reed businesses, which generated total proceeds of $57.6 million. These divestitures were part of Enviri's ongoing efforts to streamline operations and focus on its core environmental solutions business. Additionally, the company paused the sale process of its Rail segment, leading to a reclassification of its assets and liabilities from held-for-sale to continuing operations. This decision reflects a shift in strategy as the company aims to enhance its environmental service offerings.

Operationally, Enviri's Harsco Environmental segment serves approximately 70 mill services customers across 130 sites in around 30 countries, with a strong focus on resource recovery and recycling services. The Clean Earth segment operates 19 permitted treatment, storage, and disposal facilities (TSDFs) in the U.S., serving about 90,000 customer locations. The company reported a total employee headcount of nearly 12,000 as of December 31, 2024, with a commitment to fostering a diverse and inclusive workplace.

Looking ahead, Enviri anticipates continued growth in its environmental solutions business, driven by increasing regulatory demands and a growing focus on sustainability. The company plans to invest in innovation and expand its service portfolio, particularly in emerging markets. However, it also faces challenges, including rising operational costs and the need to navigate complex regulatory environments. The company remains optimistic about its ability to maintain compliance with its debt covenants and generate positive cash flows, supported by its long-term contracts and recurring revenue streams.