Enviri Corporation reports strong Q2 financial performance with increased EBITDA and cash flow growth.

From Investing.com: 2024-08-04 17:22:05

Enviri Corporation (Ticker: ENVI) reported a strong Q2 2024 performance, with a 7% increase in consolidated EBITDA and a 14% EBITDA margin. Debt-to-EBITDA fell below 4 times, the lowest since 2020. Enviri anticipates cash flow growth and significant cash from asset sales in 2024. Clean Earth achieved a record EBITDA of $38 million. Harsco also had solid EBITDA growth.

Enviri forecasts full-year adjusted EBITDA to be between $327 million to $340 million, a 9% increase year-over-year. Anticipated cash flow growth to $150 million per annum due to EBITDA growth and reduced expenses. Company projects $50-75 million in cash proceeds from asset sales in 2024. Q3 adjusted EBITDA is estimated from $85 million to $92 million.

Enviri continues to focus on improving financial position and operational efficiency. Implementation of a common IT platform and cost reduction strategies are expected to enhance profitability. Despite currency headwinds and contract adjustments, Enviri remains positive in delivering growth and sustainability commitments. Analysts predict the company will turn profitable this year.

Enviri’s stock price has experienced substantial upticks, with a 32.49% one-month price total return and 57.01% three-month return. Investment analysts foresee profitability in the near future. Investors can access additional insights on Enviri’s financial status and stock performance via InvestingPro’s dedicated page. The company is making strides towards efficiency and profitability, despite challenges like currency fluctuations and contract adjustments.



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