Enviri Corporation Debuts June 2 After Spin-Off, Projects $1.2B Revenue and $140M EBITDA
NVRI•New Enviri spun off as an independent company, issuing one New Enviri share per three Enviri shares plus $15 cash per share from the Clean Earth sale. Trading starts June 2 under Enviri Corporation with projected 2026 pro forma revenues of $1.2 billion and Adjusted EBITDA of $140 million.
1. Spin-Off Completion and Listing
New Enviri completed its spin-off as an independent publicly traded company on June 1, distributing one New Enviri share for every three Enviri shares plus $15 cash per share from the Clean Earth sale. Regular-way trading will begin on June 2 under the name Enviri Corporation on the NYSE.
2. Financial Profile and Capital Structure
Pro forma 2026 revenues are expected to reach $1.2 billion with Adjusted EBITDA of $140 million following rightsizing of central corporate costs. The company holds a net debt to Adjusted EBITDA ratio of 2.0x, maintains an undrawn revolving credit facility, and has capital in place to de-risk legacy contracts.
3. Business Segments and Strategic Outlook
New Enviri operates Harsco Environmental and Harsco Rail segments, with the environmental business set to benefit from a steel market recovery, cost reductions and selective growth investments, while rail focuses on operational turnaround, right-sized cost structure, aftermarket growth and de-risking engineered contracts. Management plans disciplined execution and capital allocation to drive earnings growth, cash flow and debt reduction.
