Enviri Corporation (NYSE: NVRI) has reported its fourth quarter and full-year 2024 results, showing a mix of both positive and negative changes compared to the prior year. In the fourth quarter of 2024, the company recorded revenues of $559 million, representing a decrease from $599 million in the same period in 2023. However, adjusted EBITDA in Q4 totaled $70 million, marking a 5% increase on an organic basis compared to the prior-year quarter.
For the full year 2024, revenues increased by 3% on an organic basis, reaching $2.34 billion compared to $2.37 billion in 2023. Adjusted EBITDA for 2024 also saw an 11% increase on an organic basis, totaling $319 million compared to $305 million in 2023.
However, the company reported a GAAP consolidated loss from continuing operations of $119 million in 2024, higher than the loss of $84 million in 2023. The GAAP diluted loss per share from continuing operations was $1.55 in 2024, compared to $1.03 in 2023.
Looking ahead to 2025, Enviri Corporation expects its adjusted EBITDA to be within the range of $305 million and $325 million, showing a potential increase compared to the prior year. The company also anticipates an increase in free cash flow to between $30 million and $50 million for 2025.
In terms of segment performance, Harsco Environmental, Clean Earth, and Harsco Rail all experienced varying levels of change in revenues and operating income. Notably, Clean Earth saw a 2% increase in revenues in the fourth quarter of 2024, reaching $241 million, and an increase in adjusted EBITDA to $36 million, up from $29 million in the same quarter of 2023.
Enviri Corporation has also made strategic financial moves, including amending its credit agreement to strengthen financial flexibility and liquidity, and increasing its securitization facility capacity from $150 million to $160 million.
Following these announcements, the company's shares moved -13.8%, and are now trading at a price of $7.53. For more information, read the company's full 8-K submission here.
