Enviri Corp 10-Q, filed Nov 10, 2025

Enviri Corp (NVRI)

10-Q 2025-11-10 For: 2025-09-30

Added on June 09, 2026

About this 10-Q

Enviri Corp filed this 10-Q on November 10, 2025, covering the quarter ended September 30, 2025.

Headline figures

Quarter ended September 30, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $574.82M; up 0.2% from $573.63M a year earlier
Net loss: $22.31M; compared with a net loss of $13.17M a year earlier
Diluted EPS: -$0.28; compared with -$0.16 a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Class						Outstanding at October 31, 2025
Common stock, par value $1.25 per share						80,652,661


		Page
PART I — FINANCIAL INFORMATION

Item 1.	Financial Statements	4
	Condensed Consolidated Balance Sheets (Unaudited)	4
	Condensed Consolidated Statements of Operations (Unaudited)	5
	Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)	6
	Condensed Consolidated Statements of Cash Flows (Unaudited)	7
	Condensed Consolidated Statements of Equity (Unaudited)	8
	Notes to Condensed Consolidated Financial Statements (Unaudited)	10

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	31

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	42

Item 4.	Controls and Procedures	42


PART II — OTHER INFORMATION

Item 1.	Legal Proceedings	43

Item 1A.	Risk Factors	43

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	43





Item 5.	Other Information	44



Item 6.	Exhibits	45


SIGNATURES		46


Term						Description
AOCI						Accumulated Other Comprehensive Income (Loss)
AR Facility						Revolving trade receivables securitization facility
ASU						Financial Accounting Standards Board Accounting Standards Update
CE						Clean Earth reportable business segment
CERCLA						Comprehensive Environmental Response, Compensation, and Liability Act of 1980
Consolidated Adjusted EBITDA						EBITDA as calculated in accordance with the Company's Credit Agreement
Credit Agreement						Credit Agreement governing the Senior Secured Credit Facilities
DEA						United States Drug Enforcement Administration
Deutsche Bahn						National railway company in Germany
DTSC						California Department of Toxic Substances Control
EBITDA						Earnings before interest, tax, depreciation and amortization
EPA						U.S. Environmental Protection Agency
ESOL						Stericycle Environmental Solutions business
FASB						Financial Accounting Standards Board
HE						Harsco Environmental reportable business segment


ISDA						International Swaps and Derivatives Association
Network Rail						Infrastructure manager for most of the railway in the U.K.
OCI						Other Comprehensive Income (Loss)


Performix						Performix Metallurgical Additives, LLC, a former subsidiary of HE
Rail						Harsco Rail reportable business segment
Reed						Reed Minerals, LLC, a former subsidiary of HE
Revolving Credit Facility						Revolving credit facility under the Senior Secured Credit Facilities containing $50.0 million maturing on March 10, 2026 and $625.0 million maturing on September 5, 2029
SBB						Federal railway system of Switzerland
SCE						Kingdom of Bahrain's Supreme Council for Environment
SEC						U.S. Securities and Exchange Commission
Senior Notes						5.75% Notes due July 31, 2027
Senior Secured Credit Facilities						Primary source of borrowings comprised of the Term Loan and the Revolving Credit Facility
SOFR						Secured Overnight Financing Rate
SPE						The Company's wholly-owned bankruptcy-remote special purpose entity, which is used in connection with the AR Facility
Term Loan						$500 million term loan raised in March 2021 under the Senior Secured Credit Facilities, maturing on March 10, 2028

U.S. GAAP						Accounting principles generally accepted in the U.S.


(In thousands)	September 30 2025		December 31 2024
ASSETS
Current assets:
Cash and cash equivalents	$	115,357	$	88,359
Restricted cash	15,662		1,799
Trade accounts receivable, net	281,072		260,690

Other receivables	43,035		40,439
Inventories	195,417		182,042
Current portion of contract assets	45,066		59,881
Prepaid expenses	61,561		62,435

Other current assets	12,070		14,880
Total current assets	769,240		710,525

Property, plant and equipment, net	697,286		664,292
Right-of-use assets, net	124,648		92,153
Goodwill	757,504		739,758
Intangible assets, net	279,728		298,438


Retirement plan assets	77,600		73,745
Deferred income tax assets	23,823		17,578

Other assets	63,773		53,744
Total assets	$	2,793,602	$	2,650,233
LIABILITIES
Current liabilities:
Short-term borrowings	$	14,496	$	8,144
Current maturities of long-term debt	25,711		21,004
Accounts payable	250,638		214,689

Accrued compensation	61,440		63,686
Income taxes payable	4,824		5,747


Reserve for forward losses on contracts	49,141		54,320
Current portion of advances on contracts	7,218		13,265

Derivative liabilities	34,029		1,284
Current portion of operating lease liabilities	30,207		26,049

Other current liabilities	161,718		158,194
Total current liabilities	639,422		566,382
Long-term debt	1,500,042		1,410,718


Retirement plan liabilities	28,587		27,019



Operating lease liabilities	96,761		67,998

Environmental liabilities	42,147		46,585
Deferred tax liabilities	23,470		26,796
Other liabilities	59,368		55,136
Total liabilities	2,389,797		2,200,634
COMMITMENTS AND CONTINGENCIES
ENVIRI CORPORATION STOCKHOLDERS’ EQUITY

Common stock	147,719		146,844
Additional paid-in capital	269,734		255,102
Accumulated other comprehensive loss	(519,961)		(538,964)
Retained earnings	1,317,031		1,400,347
Treasury stock	(853,438)		(851,881)
Total Enviri Corporation stockholders’ equity	361,085		411,448
Noncontrolling interests	42,720		38,151
Total equity	403,805		449,599
Total liabilities and equity	$	2,793,602	$	2,650,233


	Three Months Ended				Nine Months Ended
	September 30				September 30
(In thousands, except per share amounts)	2025		2024		2025		2024
Revenues from continuing operations:
Service revenues	$	505,875	$	488,132	$	1,487,956	$	1,492,569
Product revenues	68,940		85,495		197,397		291,368
Total revenues	574,815		573,627		1,685,353		1,783,937
Costs and expenses from continuing operations:
Cost of services sold	390,320		373,924		1,157,533		1,154,998
Cost of products sold	64,026		80,821		183,726		258,227

Selling, general and administrative expenses	93,294		89,183		277,905		266,763
Research and development expenses	878		888		2,340		2,692
Intangible asset impairment charge	—		—		—		2,840
Property, plant and equipment impairment charge	—		—		7,386		—
Remeasurement of long-lived assets	—		—		—		10,695
Gain on sale of businesses, net	—		(8,601)		—		(10,478)
Other expense (income), net	9,817		40		16,519		3,760
Total costs and expenses	558,335		536,255		1,645,409		1,689,497
Operating income (loss) from continuing operations	16,480		37,372		39,944		94,440
Interest income	552		981		1,476		6,113
Interest expense	(28,353)		(28,813)		(82,527)		(84,869)
Facility fees and debt-related income (expense)	(2,508)		(2,978)		(7,739)		(8,687)

Defined benefit pension income (expense)	(5,322)		(4,257)		(15,742)		(12,599)
Income (loss) from continuing operations before income taxes and equity in income	(19,151)		2,305		(64,588)		(5,602)
Income tax benefit (expense) from continuing operations	(1,066)		(13,437)		(12,621)		(31,372)
Equity in income (loss) of unconsolidated entities, net	39		38		111		(84)
Income (loss) from continuing operations	(20,178)		(11,094)		(77,098)		(37,058)
Discontinued operations:

Income (loss) from discontinued businesses	(1,597)		(1,584)		(4,065)		(4,287)
Income tax benefit (expense) from discontinued businesses	417		411		1,061		1,112
Income (loss) from discontinued operations, net of tax	(1,180)		(1,173)		(3,004)		(3,175)
Net income (loss)	(21,358)		(12,267)		(80,102)		(40,233)
Less: Net loss (income) attributable to noncontrolling interests	(955)		(901)		(3,214)		(4,498)
Net income (loss) attributable to Enviri Corporation	$	(22,313)	$	(13,168)	$	(83,316)	$	(44,731)
Amounts attributable to Enviri Corporation common stockholders:
Income (loss) from continuing operations, net of tax	$	(21,133)	$	(11,995)	$	(80,312)	$	(41,556)
Income (loss) from discontinued operations, net of tax	(1,180)		(1,173)		(3,004)		(3,175)
Net income (loss) attributable to Enviri Corporation common stockholders	$	(22,313)	$	(13,168)	$	(83,316)	$	(44,731)

Weighted-average shares of common stock outstanding	80,665		80,165		80,543		80,085
Basic earnings (loss) per common share attributable to Enviri Corporation common stockholders:
Continuing operations	$	(0.26)	$	(0.15)	$	(1.00)	$	(0.52)
Discontinued operations	(0.01)		(0.01)		(0.04)		(0.04)
Basic earnings (loss) per share attributable to Enviri Corporation common stockholders (a)	$	(0.28)	$	(0.16)	$	(1.03)	$	(0.56)

Diluted weighted-average shares of common stock outstanding	80,665		80,165		80,543		80,085
Diluted earnings (loss) per common share attributable to Enviri Corporation common stockholders:
Continuing operations	$	(0.26)	$	(0.15)	$	(1.00)	$	(0.52)
Discontinued operations	(0.01)		(0.01)		(0.04)		(0.04)
Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders (a)	$	(0.28)	$	(0.16)	$	(1.03)	$	(0.56)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934


	Nine Months Ended September 30
(In thousands)	2025		2024
Cash flows from operating activities:
Net income (loss)	$	(80,102)	$	(40,233)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	113,701		111,525
Amortization	22,721		24,089
Deferred income tax (benefit) expense	(8,407)		5,634
Equity in (income) loss of unconsolidated entities, net	(111)		84
Dividends from unconsolidated entities	77		204
Right-of-use assets	23,328		23,687
Property, plant and equipment impairment charge	7,386		—

Intangible asset impairment charge	—		2,840
Remeasurement of long-lived assets	—		10,695
Gain on sale of businesses, net	—		(10,478)
Stock-based compensation	15,507		13,040
Other, net	(6,104)		(13,952)
Changes in assets and liabilities, net of acquisitions and dispositions of businesses:
Accounts receivable	(4,058)		3,231

Inventories	(8,619)		(17,084)
Contract assets	5,368		(14,923)
Accounts payable	13,566		7,421
Accrued interest payable	(7,131)		(5,092)
Accrued compensation	(5,520)		(13,412)
Advances on contracts and other customer advances	(17,461)		(10,446)


Operating lease liabilities	(23,227)		(23,341)
Retirement plan liabilities, net	14,133		(6,981)

Other assets and liabilities	7,961		(4,737)
Net cash (used) provided by operating activities	63,008		41,771
Cash flows from investing activities:
Purchases of property, plant and equipment	(92,416)		(102,094)

Proceeds from sale of businesses, net	—		57,667
Proceeds from sales of assets	5,815		12,479
Expenditures for intangible assets	(114)		(1,181)
Proceeds from notes receivable	—		17,023
Net proceeds (payments) from settlement of foreign currency forward exchange contracts	(4,319)		(6,133)


Net cash used by investing activities	(91,034)		(22,239)
Cash flows from financing activities:
Short-term borrowings, net	3,456		(2,982)
Borrowings and repayments under Revolving Credit Facility, net	82,000		15,000
Borrowings related to refinancing of Revolving Credit Facility	—		107,557
Repayments related to refinancing of Revolving Credit Facility	—		(107,557)
Repayments of Term Loan	(3,750)		(3,750)
Cash paid for finance leases and other long-term debt	(14,186)		(10,272)
Proceeds from other long-term debt	566		—

Dividends paid to noncontrolling interests	—		(15,964)
Contributions from noncontrolling interests	—		874



Stock-based compensation - Employee taxes paid	(1,556)		(1,546)



Deferred financing costs	—		(3,765)

Net cash (used) provided by financing activities	66,530		(22,405)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	2,357		(8,609)
Net increase (decrease) in cash and cash equivalents, including restricted cash	40,861		(11,482)
Cash and cash equivalents, including restricted cash, at beginning of period	90,158		124,614
Cash and cash equivalents, including restricted cash, at end of period	$	131,019	$	113,132


	Enviri Corporation Stockholders’ Equity
(In thousands, except share amounts)	Common Stock				Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Noncontrolling Interests
	Issued		Treasury										Total
Balances, December 31, 2024	$	146,844	$	(851,881)	$	255,102	$	1,400,347	$	(538,964)	$	38,151	$	449,599

Net income (loss)	—		—		—		(13,396)		—		1,201		(12,195)




Total other comprehensive income (loss), net of deferred income taxes of $2,487	—		—		—		—		8,351		367		8,718










Vesting of restricted stock units, net 284,643 shares	636		(1,357)		(636)		—		—		—		(1,357)
Vesting of performance share units, net 14,860 shares	35		(122)		(35)		—		—		—		(122)

Amortization of unearned portion of stock-based compensation, net of forfeitures	—		—		4,044		—		—		—		4,044
Balances, March 31, 2025	$	147,515	$	(853,360)	$	258,475	$	1,386,951	$	(530,613)	$	39,719	$	448,687
Net income (loss)	—		—		—		(47,607)		—		1,058		(46,549)




Total other comprehensive income (loss), net of deferred income taxes of $3,934	—		—		—		—		9,245		788		10,033










Vesting of restricted stock units and other stock grants, net 144,761 shares	191		(56)		(191)		—		—		—		(56)


Amortization of unearned portion of stock-based compensation, net of forfeitures	—		—		5,716		—		—		—		5,716
Balances, June 30, 2025	$	147,706	$	(853,416)	$	264,000	$	1,339,344	$	(521,368)	$	41,565	$	417,831
Net income (loss)	—		—		—		(22,313)		—		955		(21,358)




Total other comprehensive income (loss), net of deferred income taxes of $(1,715)	—		—		—		—		1,407		200		1,607









Stock appreciation rights exercised, net 5,452 shares	6		—		(6)								—
Vesting of restricted stock units and other stock grants, net 3,367 shares	7		(22)		(7)		—		—		—		(22)


Amortization of unearned portion of stock-based compensation, net of forfeitures	—		—		5,747		—		—		—		5,747
Balances, September 30, 2025	$	147,719	$	(853,438)	$	269,734	$	1,317,031	$	(519,961)	$	42,720	$	403,805


(In millions)	September 30 2025		December 31 2024
Net amounts sold under factoring arrangements	$	15.0	$	13.3
Program capacities	21.1		18.6



	Three Months Ended
	September 30
Defined Benefit Pension Plan Net Periodic Pension Cost (Benefit)	U.S. Plans				International Plans
(In thousands)	2025		2024		2025		2024
Service costs	$	—	$	—	$	324	$	334
Interest costs	2,313		2,419		7,606		7,551
Expected return on plan assets	(2,562)		(2,236)		(6,875)		(8,480)
Recognized prior service costs	—		—		123		119
Recognized actuarial losses	785		1,045		3,974		3,864

Defined benefit pension plan net periodic pension cost (benefit)	$	536	$	1,228	$	5,152	$	3,388



	Nine Months Ended
	September 30
Defined Benefit Pension Plans Net Periodic Pension Cost (Benefit)	U.S. Plans				International Plans
(In thousands)	2025		2024		2025		2024
Service costs	$	—	$	—	$	951	$	1,007
Interest costs	6,939		7,257		22,468		22,445
Expected return on plan assets	(7,685)		(6,708)		(20,314)		(25,194)
Recognized prior service costs	—		—		360		354
Recognized actuarial losses	2,355		3,135		11,745		11,459


Defined benefit pension plans net periodic pension cost (benefit)	$	1,609	$	3,684	$	15,210	$	10,071


(In thousands)	Balance Sheet Location	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
September 30, 2025
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	59	$	1,699	$	1,758
Interest rate swaps	Other current assets	804		—		804
Interest rate swaps	Other assets	187		—		187
Total		$	1,050	$	1,699	$	2,749

Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Derivative liabilities	$	801	$	33,072	$	33,873
Interest rate swaps	Derivative liabilities	156		—		156

Total		$	957	$	33,072	$	34,029

December 31, 2024
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	347	$	7,590	$	7,937



Interest rate swaps	Other assets	5,250		—		$	5,250
Total		$	5,597	$	7,590	$	13,187

Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Derivative liabilities	$	80	$	987	$	1,067
Interest rate swaps	Derivative liabilities	217		—		217

Total		$	297	$	987	$	1,284



	Gain (Loss) Recognized in OCI on Derivatives				Loss (Gain) Reclassified from AOCI into Income - Effective Portion or Equity
	Three Months Ended				Three Months Ended
	September 30				September 30
(In thousands)	2025		2024		2025		2024

Foreign currency exchange forward contracts	$	97	$	(1,188)	$	503	$	541


Interest rate swaps	230		(3,284)		(119)		(866)

	$	327	$	(4,472)	$	384	$	(325)


	Location of Gain (Loss) Recognized in Income on Derivatives (a)	Amount of Gain (Loss) Recognized in Income on Derivatives (a)
		Three Months Ended				Nine Months Ended
		September 30				September 30
(In thousands)		2025		2024		2025		2024

Foreign currency exchange forward contracts	Cost of services and products sold	$	3,841	$	(18,569)	$	(42,296)	$	(6,344)


FORM			10-Q


(In thousands)	September 30 2025		December 31 2024
Finished goods	$	17,609	$	14,344
Work-in-process	17,649		15,629

Raw materials and purchased parts	112,080		107,364
Stores and supplies	48,079		44,705
Total inventories	$	195,417	$	182,042


	Three Months Ended				Nine Months Ended
	September 30				September 30
(In thousands)	2025		2024		2025		2024
Finance leases:
Depreciation expense	$	4,946	$	3,445	$	13,289	$	9,046
Interest on lease liabilities	1,654		1,164		4,614		3,064
Operating leases	9,542		9,689		28,924		29,482
Variable and short-term lease expense	14,469		13,756		40,701		41,555
Sublease income	(2)		(1)		(5)		(5)
Total lease expense	$	30,609	$	28,053	$	87,523	$	83,142



	Three Months Ended September 30, 2025
(in thousands)	Harsco Environmental	Clean Earth	Harsco Rail	Total Reportable Segments		Corporate	Total
Segment Profit and Loss:
Total revenues	261,131	250,051	63,633	$	574,815	—	$	574,815
Less:
Cost of services and products sold	219,486	179,512	58,177	457,175		—	457,175
Selling, general and administrative expenses	25,514	43,458	11,585	80,557		12,737	93,294




Other segment activities (a)	2,897	299	2,505	5,701		2,165	7,866

Operating income (loss) from continuing operations	13,234	26,782	(8,634)	$	31,382	(14,902)	$	16,480
Plus:
Interest income							552
Interest expense							(28,353)
Facility fees and debt-related income (expense)							(2,508)
Defined benefit pension income (expense)							(5,322)
Income (loss) from continuing operations before income taxes and equity in income							$	(19,151)

Other Segment Information:
Depreciation	28,047	9,935	1,151	$	39,133	225	$	39,358
Amortization (b)	567	5,924	299	$	6,790	967	$	7,757
Capital expenditures	19,513	10,343	1,819	$	31,675	82	$	31,757



	Three Months Ended September 30, 2024
(in thousands)	Harsco Environmental	Clean Earth	Harsco Rail	Total Reportable Segments		Corporate	Total
Segment Profit and Loss:
Total revenues	279,148	236,791	57,688	$	573,627	—	$	573,627
Less:
Cost of services and products sold	229,108	170,703	58,179	457,990		—	457,990
Selling, general and administrative expenses	27,753	39,144	11,824	78,721		10,462	89,183



Gain on sale of businesses, net	(8,152)	—	—	(8,152)		(449)	(8,601)
Other segment activities (a)	(2,742)	111	1,786	(845)		(1,472)	(2,317)

Operating income (loss) from continuing operations	33,181	26,833	(14,101)	$	45,913	(8,541)	$	37,372
Plus:
Interest income							981
Interest expense							(28,813)
Facility fees and debt-related income (expense)							(2,978)
Defined benefit pension income (expense)							(4,257)
Income (loss) from continuing operations before income taxes and equity in income							$	2,305

Other Segment Information:
Depreciation	27,554	8,685	1,040	$	37,279	300	$	37,579
Amortization (b)	532	5,991	68	$	6,591	1,318	$	7,909
Capital expenditures	24,905	13,020	3,567	$	41,492	82	$	41,574



	Nine Months Ended September 30, 2025
(in thousands)	Harsco Environmental	Clean Earth	Harsco Rail	Total Reportable Segments		Corporate	Total
Segment Profit and Loss:
Total revenues	762,246	731,564	191,543	$	1,685,353	—	$	1,685,353
Less:
Cost of services and products sold	641,697	533,065	172,140	1,346,902		—	1,346,902
Selling, general and administrative expenses	77,636	123,932	34,490	236,058		41,847	277,905

Property, plant and equipment impairment charge	7,386	—	—	7,386		—	7,386


Other segment activities (a)	7,969	510	5,717	14,196		(980)	13,216
Operating income (loss) from continuing operations	27,558	74,057	(20,804)	$	80,811	(40,867)	$	39,944
Plus:
Interest income							1,476
Interest expense							(82,527)
Facility fees and debt-related income (expense)							(7,739)
Defined benefit pension income (expense)							(15,742)
Income (loss) from continuing operations before income taxes and equity in income							$	(64,588)

Other Segment Information:
Depreciation	80,602	29,104	3,234	$	112,940	761	$	113,701
Amortization (b)	1,678	17,695	472	$	19,845	2,876	$	22,721
Capital expenditures	58,864	29,135	4,229	$	92,228	188	$	92,416



	Nine Months Ended September 30, 2024
(in thousands)	Harsco Environmental	Clean Earth	Harsco Rail	Total Reportable Segments		Corporate	Total
Segment Profit and Loss:
Total revenues	871,196	698,926	213,815	$	1,783,937	—	$	1,783,937
Less:
Cost of services and products sold	717,463	512,648	188,465	1,418,576		—	1,418,576
Selling, general and administrative expenses	85,828	114,954	36,707	237,489		29,274	266,763
Intangible asset impairment charge	2,840	—	—	2,840		—	2,840

Remeasurement of long-lived assets	—	—	10,695	10,695		—	10,695
Gain on sale of businesses, net	(10,029)	—	—	(10,029)		(449)	(10,478)
Other segment activities (a)	2,039	16	4,199	6,254		(5,153)	1,101
Operating income (loss) from continuing operations	73,055	71,308	(26,251)	$	118,112	(23,672)	$	94,440
Plus:
Interest income							6,113
Interest expense							(84,869)
Facility fees and debt-related income (expense)							(8,687)
Defined benefit pension income (expense)							(12,599)
Income (loss) from continuing operations before income taxes and equity in income							$	(5,602)

Other Segment Information:
Depreciation	83,793	24,347	2,424	$	110,564	961	$	111,525
Amortization (b)	2,525	18,147	157	$	20,829	3,260	$	24,089
Capital expenditures	69,674	27,084	5,154	$	101,912	182	$	102,094



	Three Months Ended
	September 30, 2024
(In thousands)	Harsco Environmental		Clean Earth		Harsco Rail		Consolidated Totals
Primary Geographical Markets (a):
North America	$	70,316	$	236,791	$	31,644	$	338,751
Western Europe	108,709		—		21,294		130,003
Latin America (b)	38,195		—		247		38,442
Asia-Pacific	31,333		—		4,503		35,836
Middle East and Africa	26,327		—		—		26,327
Eastern Europe	4,268		—		—		4,268
Total Revenues	$	279,148	$	236,791	$	57,688	$	573,627


(In thousands)	Harsco Environmental		Harsco Rail
2026	$	19,384	$	35,797
2027	16,925		30,298
2028	14,009		16,309
2029	7,128		7,021
2030	3,710		4,095
Thereafter	4,866		—
Total remaining performance obligations	$	66,022	$	93,520


	Components of AOCI, Net of Tax
(In thousands)	Cumulative Foreign Exchange Translation Adjustments		Effective Portion of Derivatives Designated as Hedging Instruments		Cumulative Unrecognized Actuarial Losses on Pension Obligations		Unrealized Gain (Loss) on Marketable Securities		Total
Balance at December 31, 2024	$	(228,698)	$	3,769	$	(314,057)	$	22	$	(538,964)

OCI before reclassifications (a)(b)	29,337		(4,935)		(18,803)		1		5,600
Amounts reclassified from AOCI, net of tax	—		909		13,849		—		14,758



Total OCI	29,337		(4,026)		(4,954)		1		20,358
Less: OCI attributable to noncontrolling interests	(1,355)		—		—		—		(1,355)
OCI attributable to Enviri Corporation	27,982		(4,026)		(4,954)		1		19,003
Balance at September 30, 2025	$	(200,716)	$	(257)	$	(319,011)	$	23	$	(519,961)


Significant Effects on Revenues (in millions)	Three Months Ended		Nine Months Ended
Revenues — September 30, 2024	$	279.1	$	871.2
Impact of divestitures	(12.9)		(59.9)
Net impact of new and lost contracts	(8.9)		(43.9)
Impact of foreign currency translation	2.9		(6.5)
Net effects of price/volume changes, primarily attributable to volume changes and services mix	0.8		1.3

Revenues — September 30, 2025	$	261.1	$	762.2



Significant Effects on Revenue (in millions)	Three Months Ended		Nine Months Ended
Revenues — September 30, 2024	$	57.7	$	213.8
Net effect of price/volume changes, primarily attributable to volume changes	0.6		(43.5)
Change in revenue adjustments as a result of certain estimated forward loss provisions (a)	4.7		20.1
Impact of foreign currency translation	0.6		1.1

Revenues — September 30, 2025	$	63.6	$	191.5


(in millions)	Three Months Ended		Nine Months Ended
Cost of services and products sold — September 30, 2024	$	454.7	$	1,413.2
Change in costs due to changes in revenue volume and mix (a)	9.8		(27.7)

Changes in costs from divestitures	(9.0)		(47.4)
Impact of foreign currency translation	2.8		(2.6)
Changes from cost adjustments as a result of certain estimated forward loss provisions in Rail (b)	(4.5)		5.4
Other	0.5		0.3


Cost of services and products sold — September 30, 2025	$	454.3	$	1,341.3


Summary of Senior Secured Credit Facilities and Notes: (in millions)	September 30 2025		December 31 2024
By type:
Term Loan	$	478.8	$	482.5
Revolving Credit Facility	489.0		407.0
5.75% Senior Notes	475.0		475.0
Total	$	1,442.8	$	1,364.5
By classification:
Current	$	5.0	$	5.0
Long-term	1,437.8		1,359.5
Total	$	1,442.8	$	1,364.5


	September 30, 2025
(In millions)	Facility Limit	Outstanding Balance		Outstanding Letters of Credit		Available Credit


Revolving credit facility (a)	675.0	$	489.0	$	24.5	$	161.5


Exhibit Number						Description






10.1						Amendment No. 16 to Third Amended and Restated Credit Agreement, dated as of November 5 2025, among Enviri Corporation, the Subsidiary Guarantors party thereto, Bank of America, N.A., as administrative agent, and the lenders party thereto.*
31.1						Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Chairman, President and Chief Executive Officer).*
31.2						Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Chief Financial Officer).*
32						Certifications Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chairman, President and Chief Executive Officer and Chief Financial Officer).**
101.Def						Definition Linkbase Document
101.Pre						Presentation Linkbase Document
101.Lab						Labels Linkbase Document
101.Cal						Calculation Linkbase Document
101.Sch						Schema Document
101.Ins						Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)



DATE	November 10, 2025	/s/ TOM VADAKETH
		Tom Vadaketh
		Senior Vice President and Chief Financial Officer
		(On behalf of the registrant and as Principal Financial Officer)

DATE	November 10, 2025	/s/ SAMUEL C. FENICE
		Samuel C. Fenice
		Vice President and Corporate Controller
		(Principal Accounting Officer)