Enviri Reports Loss Amid Rail Contract Exits

Enviri Corporation announced its second-quarter financial results, revealing an adjusted diluted loss per share of $0.63. This occurred even as the company reported adjusted revenue growth of 2%, reaching $324 million compared to the previous year. The financial report also indicated that adjusted EBITDA surpassed expectations, reaching $34 million amidst subdued market conditions.

Strategically, Enviri has decided to exit two European engineered-to-order contracts within its Harsco Rail division. This move is intended to eliminate future execution risks and ongoing cash expenditures. Reported revenue was impacted by $136.5 million in adjustments related to these contract exits, resulting in a reported figure of $187 million.

The Harsco Environmental segment demonstrated robust performance, with revenue climbing 3% year-on-year to $266 million, driven by higher volumes and improved service pricing. This segment also saw its adjusted EBITDA rise to $46 million, with a margin expansion to 17.2%.

Conversely, Harsco Rail recorded adjusted revenue of $58 million, largely consistent with the prior year, but remained unprofitable with an adjusted EBITDA loss of $5 million. Enviri has reaffirmed its full-year 2026 adjusted EBITDA guidance for both divisions, projecting $170 million to $180 million for Harsco Environmental.