Enviri Corporation (NYSE: NVRI) has reported its financial results for the fourth quarter and full year 2025. In the fourth quarter of 2025, the company recorded revenues of $556 million, with a U.S. GAAP consolidated loss from continuing operations of $86 million. Adjusted EBITDA for Q4 totaled $70 million. Comparing these figures to the same period in 2024, there was a slight decrease in revenues from $559 million to $556 million, while the GAAP consolidated loss from continuing operations increased from $82 million to $86 million. However, the adjusted EBITDA remained constant at $70 million.
For the full year 2025, Enviri Corporation reported revenues of $2.2 billion, with a GAAP consolidated loss from continuing operations amounting to $160 million. Adjusted EBITDA for the full year was $275 million. These figures represent a decrease in revenues from $2.343 billion in 2024 to $2.24 billion in 2025. The GAAP consolidated loss from continuing operations also increased from $120 million in 2024 to $160 million in 2025, while adjusted EBITDA declined from $318 million in 2024 to $275 million in 2025.
The company's fourth quarter revenues were mainly driven by an increase in revenues from Clean Earth and Harsco Environmental, while revenues from Harsco Rail decreased, as anticipated. Foreign currency translation positively impacted fourth quarter 2025 revenues by approximately $13 million compared to the same quarter in 2024.
Harsco Environmental recorded revenues of $257 million in Q4 2025, reflecting a 7.0% increase from the prior-year quarter. Clean Earth reported revenues of $244 million, a 1% increase from the same period in 2024. Harsco Rail, however, experienced a 28% decrease in revenues, which totaled $56 million in Q4 2025.
Looking ahead to 2026, Enviri Corporation expects adjusted EBITDA for Harsco Environmental and Harsco Rail (together known as New Enviri) to be modestly below 2025 at the guidance mid-point, with projected adjusted EBITDA for New Enviri at approximately $140 million. Harsco Environmental is expected to achieve adjusted EBITDA of $170 million to $180 million, while Harsco Rail's adjusted EBITDA is projected to be in the range of $(26) million to $(19) million.
In addition, the company recently identified historic errors related to the measurement of certain aspects of the pension obligation associated with its U.K. pension plan, estimating the cumulative net impact to be approximately $18 million at the end of 2025.
Enviri Corporation will hold a conference call to discuss its results and respond to questions from the investment community.
For more details, the company’s 2025 Form 10-K contains additional information on the revision and the related financial impacts.
Source: Enviri Corporation Press Release As a result of these announcements, the company's shares have moved -0.65% on the market, and are now trading at a price of $18.44. For more information, read the company's full 8-K submission here.
