Enviri Flat Q1 Revenue at $550M, Clean Earth Spin-Off Closing June 1
Enviri reported flat Q1 revenue of $550 million with $65 million adjusted EBITDA while maintaining full-year guidance. The company finalized sale milestones for Clean Earth and spin-off of Enviri closing June 1, as Environmental segment revenues rose 6% to $257 million and Rail segment generated an $18 million cash loss.
1. Q1 Financial Overview
Enviri logged $550 million in total revenue for Q1 2026, unchanged year-over-year, and achieved $65 million in adjusted EBITDA. This performance underpins the company’s decision to uphold its full-year revenue and profit targets despite mixed segment results.
2. Clean Earth Divestiture and Spin-Off
The company reached key milestones in the Clean Earth sale and scheduled the spin-off of Enviri as a standalone entity to close on June 1, 2026. Proceeds from the divestiture are expected to strengthen the balance sheet and fund growth initiatives.
3. Environmental Segment Performance
Harsco Environmental delivered 6% revenue growth to $257 million in Q1, producing a robust $38 million in EBITDA. Strong demand for environmental remediation services helped offset challenges in other areas.
4. Rail Segment Challenges
The Rail division continued to face headwinds with $18 million of negative cash flow, primarily due to margin pressures in engineer-to-order contracts. Management cited weak equipment demand and longer project cycles as key challenges for the segment.