Enviri losing streak continues

Philadelphia-based Enviri Corp., which operates Harsco Environmental and two other business units, has reported a net loss attributable to its shares of $47.6 million in this year’s second quarter, joining losses experienced by the company in the previous quarter and in 2024.

Along with reporting its second quarter financials, Enviri has announced that its board of directors has authorized management “to conduct a formal process to evaluate and explore strategic alternatives” that include the potential sale of its Clean Earth business unit.

Clear Earth, which collects and handles hazardous and regulated materials, garnered second quarter 2025 revenue of $246 million, a 4 percent increase compared with the second quarter of 2024. The revenue growth was attributable to higher volumes and higher services pricing.

Clean Earth’s operating income was $25 million in the second quarter of this year and and its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $40 million.

Enviri’s biggest business unit by revenue is Harsco Environmental, which focuses much of its attention on steel and metals industry residuals and byproducts. In this year’s second quarter, Harsco Environmental revenue totaled $258 million, a decline of nearly 12 percent compared with the second quarter of 2024.

“The year-over-year revenue change is attributable to business divestitures, lower service levels due to site closures and contract exits, and lower eco-products volumes,” Enviri says.

Harsco Rail, the company’s third business unit, garnered second quarter 2025 revenue of $58 million, marking a 28 percent year-on-year decrease.

“Our environmental businesses performed well in the quarter and in line with our expectations,” Enviri board chair and CEO Nick Grasberger says. “Clean Earth achieved record Q2 earnings while continuing to generate strong free cash flow, and Harsco Environmental again delivered consistent performance despite steel industry volumes remaining subdued. Rail results were below our expectations and negatively impacted by weak demand and ongoing operating challenges.

“Fundamentals for Clean Earth and Harsco Environmental remain stable, while market conditions for Harsco Rail have weakened due to slowing global demand. Looking into the second half of the year, we intend to continue executing on our strategic priorities with discipline, while concurrently reviewing strategic alternatives available to the company to unlock the significant value inherent in our businesses.”