Press Release Details

• Enviri 3-Year Annual Growth Targets Include Mid-Single Digit Revenue Growth and 10 to 12 Percent Adjusted EBITDA Growth
• Enviri Debt Reduction to Continue with Credit Agreement Leverage (Ratio) Expected to Reach 2.5X by 2027
• Event to Showcase Clean Earth’s Strategy, Favorable Financial Attributes and Growth Potential
• Clean Earth’s Adjusted EBITDA Margin Target Increased to 17 Percent, from 15 Percent
• Live Webcast to Begin at 9am Today (June 20)

PHILADELPHIA, June 20, 2024 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI), a global, market-leading provider of environmental solutions for industrial and specialty waste streams, is hosting an Analyst Day today, June 20, beginning at 9am ET. For those interested in learning how Enviri is creating value both for the environment and shareholders, please join us for the half-day event.

Enviri’s Chairman and CEO, Nick Grasberger, and Senior Vice President and CFO, Tom Vadaketh, will provide an update on Enviri and the Company’s financial priorities and outlook. The event will also feature the accomplishments and outlook for Clean Earth as well as its unique business attributes and key initiatives. Jeff Beswick, Senior Vice President & Group President of Clean Earth, will engage in discussions on these and other topics through a series of presentations and a Q&A session, along with Clean Earth’s Chief Commercial Officer Elizabeth Peterson and Chief Financial Officer Michael Polcovich.

“It has been a number of years since our last Analyst Day, since which Enviri has gone through a major business transformation,” said Mr. Grasberger. “Today, we are a leading environmental solutions company with strong market positions around the world. The majority of our revenues are recurring, and we expect to benefit from sustainability goals of our customers and evolving environmental regulation. These facts when combined with internal improvement initiatives have made Enviri into a less cyclical company with attractive growth potential today.”

“In addition, our underlying businesses are performing well and our shorter- and longer-term outlook for each is positive. As a result, we’re targeting annual cash earnings growth of 10+ percent over the next few years. This along with significant deleveraging in the year ahead is expected to drive meaningful value creation for our shareholders.”

Financial Targets
During the Analyst Day, the Enviri management team will discuss how the business is poised to deliver attractive revenue and cash earnings growth. Further, the team will discuss how this growth will drive increased free cash flow and balance sheet deleveraging. More specifically, the Company will introduce 3-Year financial targets which include the following:

• Mid-single digit organic revenue growth on average over next 3 years
• Average adjusted EBITDA growth of 10 to 12 percent annually during this period
• Adjusted EBITDA targets of 17 percent for Clean Earth, 20 percent for Harsco Environmental and 10 percent for Harsco Rail
• Adjusted Free Cash Flow margin of 10 percent for Enviri’s business segments
• Credit Agreement Net Leverage Ratio of 2.5x at the end of 2027

Webcast and Registration
A live webcast of the Analyst Day presentations and supporting materials will be accessible on the Investor Relations section of the Company’s website, www.enviri.com. In addition, those interested in participating in the event may use the following registration link: Enviri 2024 Analyst Day.

Forward-Looking Statements
The nature of the Company's business, together with the number of countries in which it operates, subject it to changing economic, competitive, regulatory and technological conditions, risks and uncertainties. In accordance with the "safe harbor" provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, the Company provides the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the results contemplated by forward-looking statements, including the expectations and assumptions expressed or implied herein. Forward-looking statements contained herein could include, among other things, statements about management's confidence in and strategies for performance; expectations for new and existing products, technologies and opportunities; and expectations regarding growth, sales, cash flows, and earnings. Forward-looking statements can be identified by the use of such terms as "may," "could," "expect," "anticipate," "intend," "believe," "likely," "estimate," "outlook," "plan," "contemplate," "project," “target” or other comparable terms.

Factors that could cause actual results to differ, perhaps materially, from those implied by forward-looking statements include, but are not limited to: (1) the Company's ability to successfully enter into new contracts and complete new acquisitions, divestitures, or strategic ventures in the time-frame contemplated or at all, including the Company's ability to divest the Rail business; (2) the Company’s inability to comply with applicable environmental laws and regulations; (3) the Company’s inability to obtain, renew, or maintain compliance with its operating permits or license agreements; (4) various economic, business, and regulatory risks associated with the waste management industry; (5) the seasonal nature of the Company's business; (6) risks caused by customer concentration, the long-term nature of customer contracts, and the competitive nature of the industries in which the Company operates; (7) the outcome of any disputes with customers, contractors and subcontractors; (8) the financial condition of the Company's customers, including the ability of customers (especially those that may be highly leveraged or have inadequate liquidity) to maintain their credit availability; (9) higher than expected claims under the Company’s insurance policies, or losses that are uninsurable or that exceed existing insurance coverage; (10) market and competitive changes, including pricing pressures, market demand and acceptance for new products, services and technologies; changes in currency exchange rates, interest rates, commodity and fuel costs and capital costs; (11) the Company's ability to negotiate, complete, and integrate strategic transactions and joint ventures with strategic partners; (12) the Company’s ability to effectively retain key management and employees, including due to unanticipated changes to demand for the Company’s services, disruptions associated with labor disputes, and increased operating costs associated with union organizations; (13) the Company's inability or failure to protect its intellectual property rights from infringement in one or more of the many countries in which the Company operates; (14) failure to effectively prevent, detect or recover from breaches in the Company's cybersecurity infrastructure; (15) changes in the worldwide business environment in which the Company operates, including changes in general economic and industry conditions and cyclical slowdowns; (16) fluctuations in exchange rates between the U.S. dollar and other currencies in which the Company conducts business; (17) unforeseen business disruptions in one or more of the many countries in which the Company operates due to changes in economic conditions, changes in governmental laws and regulations, including environmental, occupational health and safety, tax and import tariff standards and amounts; political instability, civil disobedience, armed hostilities, public health issues or other calamities; (18) liability for and implementation of environmental remediation matters; (19) product liability and warranty claims associated with the Company’s operations; (20) the Company’s ability to comply with financial covenants and obligations to financial counterparties; (21) the Company’s outstanding indebtedness and exposure to derivative financial instruments that may be impacted by, among other factors, changes in interest rates; (22) tax liabilities and changes in tax laws; (23) changes in the performance of equity and bond markets that could affect, among other things, the valuation of the assets in the Company's pension plans and the accounting for pension assets, liabilities and expenses; (24) risk and uncertainty associated with intangible assets; and the other risk factors listed from time to time in the Company's SEC reports. A further discussion of these, along with other potential risk factors, can be found in Part I, Item 1A, “Risk Factors” of the Company’s most recently filed Annual Report on Form 10-K, as updated by subsequent Quarterly Reports on Form 10-Q, which are filed with the Securities and Exchange Commission. The Company cautions that these factors may not be exhaustive and that many of these factors are beyond the Company's ability to control or predict. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The Company undertakes no duty to update forward-looking statements except as may be required by law.

About Enviri

Enviri is transforming the world to green, as a trusted global leader in providing a broad range of environmental services and related innovative solutions. The company serves a diverse customer base by offering critical recycle and reuse solutions for their waste streams, enabling customers to address their most complex environmental challenges and to achieve their sustainability goals. Enviri is based in Philadelphia, Pennsylvania and operates in more than 150 locations in over 30 countries. Additional information can be found at www.enviri.com.