Enviri Reports Quarterly Earnings Results

Enviri (NYSE:NVRI) released its quarterly earnings results on Thursday, revealing that the company recorded an earnings per share (EPS) of ($0.01). This figure falls short of analysts' expectations, which anticipated a profit of $0.06, missing the mark by $0.07, according to Briefing.com. Additionally, Enviri reported a challenging quarter, exhibiting a negative return on equity of 0.31% and a negative net margin of 4.27%.

The company generated revenue of $573.60 million for the quarter. This is notably below analysts' forecasts of $613.63 million. Year-over-year, Enviri's revenue declined by 3.9%, marking a decrease from the same period last year when the company reported $0.05 in earnings per share.

Market Reaction to Earnings Report

Following the earnings announcement, Enviri's stock price fell by 5.1%. During midday trading on Friday, shares traded down by $0.39, reaching a price of $7.27. The trading volume was significantly above average, with 1,098,240 shares changing hands compared to the normal volume of 449,815 shares.

The stock has fluctuated in the past year, with a 52-week low of $5.64 and a high of $12.79. As for financial ratios, Enviri has a quick ratio of 1.00, a current ratio of 1.32, and a debt-to-equity ratio of 2.68. The company's 50-day moving average stands at $10.42, while its 200-day moving average is $9.60. The market capitalization of Enviri is approximately $582.40 million, with a price-to-earnings (P/E) ratio of -6.28 and a beta of 2.19.

Analyst Ratings Update

In light of these earnings results, BMO Capital Markets revised its price target for Enviri, reducing it from $13.00 to $10.00 and maintaining a "market perform" rating. This adjustment reflects a cautious outlook on the company's performance based on the recent financial results.

Company Profile

Enviri Corporation specializes in providing environmental solutions tailored for industrial and specialty waste streams in both the United States and international markets. The company operates through two primary segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers various on-site services under long-term contracts that focus on material logistics, product quality enhancement, and resource recovery for the iron, steel, and metals manufacturing sectors. The segment also involves manufacturing and distributing industrial abrasives, roofing granules, aluminum dross, and scrap processing systems, in addition to offering meltshop and furnace services, including under-vessel cleaning and removal of ladle slag.

Earnings, Stocks, Revenue