The following is a summary of the Enviri Corporation (NVRI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Enviri reported a strong Q1 2024 with all three segments exceeding cash flow and adjusted EBITDA expectations.

• Consolidated EBITDA increased approximately 20% from Q1 of the previous year, improving the EBITDA margin by nearly 150 basis points to 13%.

• Updated guidance for the full year reflects a 5% improvement in the performance of Clean Earth and Harsco Environmental compared to previous expectations.

• The company expects its three segments to collectively improve cash flow by $40 million to $50 million this year, with CE and HE each generating over $100 million for the first time.

• The company's cash earnings are at a decade-long high.

• The company is planning to reduce leverage through asset and business sales, targeting $50 million to $75 million in cash generation from these disposals this year.

Business Progress:

• Improved demand for Harsco Environmental's services and products, with solid growth expected for earnings and cash flow.

• Clean Earth reported higher volumes and reduced costs in the hazardous waste line, resulting in better than expected EBITDA and cash flow.

• Harsco Rail's divestiture remains a strategic and financial objective, despite challenges experienced in the process.

• Enviri plans to scrutinize internal deleveraging efforts, reviewing smaller businesses and disposable assets within the portfolio for potential transactions.

• Predicted volume growth for the mill services business sits at 6% to 7% this year, 4% of which is due to market growth with the remainder attributed to new contracts.

• The company has made decisions to sell assets to improve its balance sheet, including the sale of planes and its stake in Performix.

More details: Enviri IR

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