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Enviri Corporation
(NYSE:NVRI)
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Rating:49Neutral
Price Target:
$22.00
▲(1.76% Upside)
Action:Reiterated
Date:08/11/26
The score is held down primarily by weak financial performance (worsening losses, negative operating/free cash flow, and negative equity). Technicals are broadly neutral and do not strongly offset the fundamental risk. Earnings-call commentary and the announced asset sale/spin-off are moderately supportive, but sizable liabilities, ongoing rail losses, and near-term negative cash flow expectations keep the overall profile below average.
Positive Factors
Harsco Environmental growth
Harsco Environmental's revenue and adjusted EBITDA growth reflect stronger pricing, higher service/product volumes and site-level operational gains. As a recurring industrial services franchise, sustained HE improvement supports predictable cash generation, margin expansion and a durable earnings base over the medium term.
Negative Factors
Negative equity and weak balance sheet
Persistent negative shareholder equity and rising debt weaken financial flexibility and raise refinancing risk. Over the medium term this constrains the company's ability to absorb shocks, limits capacity to fund growth organically, and increases reliance on asset sales or external financing to meet obligations.
Read all positive and negative factors
Positive Factors
Negative Factors
Harsco Environmental growth
Harsco Environmental's revenue and adjusted EBITDA growth reflect stronger pricing, higher service/product volumes and site-level operational gains. As a recurring industrial services franchise, sustained HE improvement supports predictable cash generation, margin expansion and a durable earnings base over the medium term.
Read all positive factors
Enviri Corporation (NVRI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$609.47M
Dividend Yield64.99%
Average Volume (3M)2.29M
Price to Earnings (P/E)―
Beta (1Y)-0.15
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees12,000
SectorGeneral
Sector StrengthN/A
IndustryWaste Management
Share Statistics
EPS (TTM)-14.95
Shares Outstanding28,190,119
10 Day Avg. Volume1,941,442
30 Day Avg. Volume2,291,680
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)-0.93
Price to Sales (P/S)0.45
P/FCF Ratio-4.92
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$30.00Price Target Upside38.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.77
Revenue Forecast (FY)$1.26B
Enviri Corporation Business Overview & Revenue Model
Company Description
Founded in 1853 and headquartered in Philadelphia, Pennsylvania, Enviri Corporation provides environmental solutions for industrial and specialized waste streams both domestically and abroad. The company, formerly known as Harsco Corporation until...
How the Company Makes Money
Enviri makes money primarily by delivering contracted environmental and industrial services and selling recycled/processed materials derived from industrial waste streams. Key revenue streams typically include: (1) Service fees from managing, tran...
Enviri Corporation Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Neutral
The call conveyed a mix of clear operational and financial progress (EBITDA growth, HE revenue and margin improvement, aftermarket momentum, balance sheet deleveraging, and decisive derisking moves) alongside substantial one-time charges, accrued liabilities and ongoing rail losses that materially impacted near-term results. Management framed the large charges as purposeful actions to remove long-term risk and improve future cash flow and margin profile, with positive earnings and cash flow trajectory expected in 2027. Given the balance between encouraging execution and large one-time burdens, the tone is cautiously constructive but tempered by near-term uncertainty.Positive Updates
Adjusted EBITDA Growth
Adjusted EBITDA for Q2 was $34 million, a 22% increase year-over-year, driven primarily by Harsco Environmental and operational execution across the company.
Negative Updates
Large Unusual P&L Charges Related to ETO Exits
Management recorded $247 million of unusual P&L items in the quarter, of which $207 million related to exiting Deutsche Bahn and Network Rail contracts (including $75 million noncash impairments and $133 million incremental liabilities), creating sizable one-time earnings impact.
Read all updates
Q2-2026 Updates
Positive
Negative
Adjusted EBITDA Growth
Adjusted EBITDA for Q2 was $34 million, a 22% increase year-over-year, driven primarily by Harsco Environmental and operational execution across the company.
Read all positive updates
Company Guidance
Management maintained full‑year guidance, reiterating Harsco Environmental adjusted EBITDA of $170–$180 million and Harsco Rail’s adjusted EBITDA loss of $19–$26 million; for Q3 they expect HE at the midpoint to be modestly above Q3‑2025 while Rail’s EBITDA is expected to decrease on lower volumes, corporate gross costs of about $9 million and adjusted free cash flow to be modestly negative. They noted Q2 adjusted EBITDA was $34 million (up 22% YoY) with adjusted free cash flow of (‑)$9 million and an adjusted loss per share of $0.63; segment detail included HE revenue of $266 million (+3% YoY) and HE adjusted EBITDA of $46 million (+15% YoY), and Rail revenue of $58 million with an adjusted EBITDA loss of $5 million. Balance‑sheet and cash metrics cited in the guidance discussion included net debt of roughly $290 million, net leverage ~1.9x (counting only $100 million of cash for covenant purposes), total cash ~ $300 million (including $50 million restricted) and accrued contract liabilities of about $190 million; management said ongoing fuel and geopolitical uncertainty justify maintaining the outlook despite stronger H1 results and expects meaningful SBB cash flows beginning early 2027.Enviri Corporation Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
12
Very Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 737.14M | 1.27B | 1.40B |
| Gross Profit | -52.65M | 164.91M | 187.83M |
| EBITDA | -170.40M | 34.92M | 70.15M |
| Net Income | -406.66M | -228.11M | -194.90M |
Balance Sheet | |||
| Total Assets | 1.72B | 1.67B | 1.64B |
| Cash, Cash Equivalents and Short-Term Investments | 253.43M | 103.49M | 88.09M |
| Total Debt | 422.35M | 1.72B | 1.60B |
| Total Liabilities | 1.04B | 2.24B | 2.08B |
| Stockholders Equity | 682.69M | -608.89M | -476.23M |
Cash Flow | |||
| Free Cash Flow | -364.29M | -114.60M | -149.18M |
| Operating Cash Flow | -310.33M | -22.78M | -44.59M |
| Investing Cash Flow | 1.65B | -101.09M | -1.87M |
| Financing Cash Flow | -1.16B | 155.80M | 26.95M |
Enviri Corporation Technical Analysis
Positive
21.62
Price Trends
Market Momentum
0.39
Negative
63.24
Neutral
70.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVRI, the sentiment is Positive. The current price of 21.62 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of 0.39 indicates Negative momentum. The RSI at 63.24 is Neutral, neither overbought nor oversold. The STOCH value of 70.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NVRI.
Enviri Corporation Risk Analysis
Enviri Corporation disclosed 35 risk factors in its most recent earnings report. Enviri Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Enviri Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $67.66B | 31.47 | 18.27% | 1.15% | 3.21% | 4.30% | |
72 Outperform | $16.28B | 37.93 | 15.64% | ― | 5.07% | 15.63% | |
71 Outperform | $88.79B | 31.20 | 28.92% | 1.48% | 7.17% | 4.68% | |
59 Neutral | $5.95B | 1,005.79 | 0.36% | ― | 13.59% | -50.47% | |
57 Neutral | $375.78M | -16.05 | -40.97% | ― | -4.73% | 0.30% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | $609.47M | -1.51 | 213.35% | ― | ― | ― |
* General Sector Average
NVRI
Enviri Corporation
23.08
6.91
42.73%
CWST
Casella Waste
93.74
-5.08
-5.14%
CLH
Clean Harbors
313.67
69.99
28.72%
PESI
Perma-Fix
18.14
6.22
52.18%
RSG
Republic Services
222.18
-8.26
-3.59%
WM
Waste Management
221.24
0.20
0.09%
Enviri Corporation Corporate Events
Business Operations and StrategyDelistings and Listing ChangesM&A Transactions
Enviri Completes Clean Earth Sale and NYSE Delisting
Neutral
Jun 1, 2026
On June 1, 2026, Enviri completed a complex reorganization and sale of its Clean Earth Business to Veolia for total consideration of approximately $3.04 billion, following a holding company merger, a distribution of New Enviri shares, and a subseq...
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsShareholder Meetings
Enviri to Sell Clean Earth, Spin Off New Enviri
Positive
May 20, 2026
On May 20, 2026, Enviri Corporation detailed plans to sell its Clean Earth segment to Veolia Environnement and to spin off its Harsco Environmental and Rail segments into a separate, publicly traded entity called Enviri II Corporation, or New Envi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.