Enviri Corporation Faces $20 Million Loss in Q3 2025
Philadelphia, Tuesday, 11 November 2025.
Enviri Corporation reports a $20 million loss in Q3 2025 despite $575 million in revenue and $74 million in adjusted EBITDA, highlighting ongoing operational and financial challenges.
Financial Performance Overview
Enviri Corporation (NASDAQ: NVRI) reported a challenging third quarter for 2025, posting a GAAP consolidated loss from continuing operations of $20 million. Despite generating $575 million in revenue, these figures mark a significant operational hurdle for the company, with a notable adjusted EBITDA of $74 million reflecting the underlying strength of certain segments [1][2].
Segment Contributions
The performance of Enviri’s business units was mixed during the quarter. Clean Earth, a key division, reported revenues of $250 million, reflecting a 6% increase over the same period in 2024 due to higher volumes and improved service pricing [1][2]. Conversely, Harsco Rail struggled, with revenues totaling $64 million. This segment’s performance was hindered by weak demand, leading to a GAAP operating loss of $9 million and an adjusted EBITDA loss of $4 million [1][3].
Strategic Initiatives and Financial Flexibility
In response to the ongoing financial pressures, Enviri amended its credit agreement in November 2025, aiming to enhance financial flexibility and allow for strategic alternatives to be explored. This move is intended to strengthen the company’s ability to navigate its current challenges and potentially unlock inherent value within its operations [1][4].
Future Outlook and Market Position
Going forward, Enviri has revised its outlook for 2025, projecting adjusted EBITDA between $268 million and $278 million, with free cash flow expectations ranging from $(30) million to $(20) million. While Clean Earth is anticipated to continue its growth trajectory, the company recognizes the need to address persistent headwinds affecting Harsco Rail and Harsco Environmental. Enviri’s leadership remains optimistic about the end-market strengthening and the realization of strategic improvement initiatives [1][5].