New Enviri Spins Off as Standalone Entity, Completes Clean Earth Sale
Event summary
- New Enviri (NYSE: NVRI) completes spin-off as standalone public company on June 1, 2026.
- Clean Earth sold to Veolia Environnement SA, shareholders receive 1 share of New Enviri stock and $15.00 per share in cash.
- New Enviri expects annualized 2026 pro forma revenues of $1.2 billion and Adjusted EBITDA of $140 million.
- Trading begins June 2, 2026 under ticker 'NVRI' and renamed 'Enviri Corporation'.
- Company operates through Harsco Environmental and Harsco Rail segments.
The big picture
New Enviri's spin-off and Clean Earth sale mark a strategic pivot to focus on environmental and rail solutions amid industry recovery. The company's disciplined turnaround plan and market positioning in attractive industrial and infrastructure sectors will be key to its future performance. With a healthy balance sheet and strong leadership, New Enviri aims to drive improved earnings and cash flow through internal initiatives and market recovery.
What we're watching
- Market Recovery
- How steel market recovery will impact Harsco Environmental's earnings.
- Operational Turnaround
- Whether Harsco Rail can sustain its turnaround plan through cost-cutting and core business growth.
- Debt Management
- The pace at which New Enviri reduces debt given its conservative capital structure.
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