Transcript covered Enviri’s Q2 2026 earnings call attended by CEO Russell Hochman, CFO Peter Minan, IR VP Dave Martin, and analysts from CJS Securities, Lake Street, and BMO.
Decision to exit Deutsche Bahn and Network Rail rail ETO contracts; manufacturing stopped; GBM asset sale signed for DB with milestone-based payments.
Network Rail talks continue; management flagged litigation as a scenario that could push costs toward the recorded exit liability.
Q2 revenue was $187 million, including a $136 million negative adjustment tied to the exits; adjusted EBITDA was $34 million, up 22%.
Unusual P&L items totaled $247 million; contract-exit charges were $207 million; accrued contract liability was $190 million; net debt was about $290 million.
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