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Enviri II Corp

SIC 4953 · Refuse Systems
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Enviri II Corp

CIK:0002104052|SEC Filings
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues from continuing operations:            
Total revenues $ 187,342   $ 315,972   $ 511,390 $ 629,025
Costs and expenses from continuing operations:            
Selling, general and administrative expenses 49,062   53,773   101,430 105,844
Research and development expenses 654   775   1,072 1,309
Property, plant and equipment impairment charge 0   7,386   0 7,386
Other expense (income), net 36,484   2,379   38,180 6,590
Total costs and expenses 431,765   347,555   761,698 655,560
Operating income (loss) from continuing operations (244,423)   (31,583)   (250,308) (26,535)
Interest income 580   414   1,038 868
Interest expense (8,239)   (8,739)   (16,766) (17,445)
Facility fees and debt-related income (expense) (318)   (154)   (538) (570)
Defined benefit pension income (expense) (3,918)   (5,555)   (7,854) (10,756)
Income (loss) from continuing operations before income taxes and equity in income (256,318)   (45,617)   (274,428) (54,438)
Income tax benefit (expense) from continuing operations (40,548)   905   (45,694) 4,325
Equity in income (loss) of unconsolidated entities, net 50   44   73 72
Income (loss) from continuing operations (296,816)   (44,668)   (320,049) (50,041)
Discontinued operations:            
Income (loss) from discontinued operations (91,927)   2,182   (108,172) 4,753
Income tax benefit (expense) from discontinued operations (5,767)   (4,269)   24,173 (9,278)
Income (loss) from discontinued operations, net of tax (97,694)   (2,087)   (83,999) (4,525)
Net income (loss) (394,510) $ (9,538) (46,755) $ (7,812) (404,048) (54,566)
Less: Net loss (income) attributable to noncontrolling interests (1,485)   (1,058)   (2,612) (2,259)
Net income (loss) attributable to Enviri Corporation (395,995)   (47,813)   (406,660) (56,825)
Amounts attributable to Enviri Corporation common stockholders:            
Income (loss) from continuing operations, net of tax (298,301)   (45,726)   (322,661) (52,300)
Income (loss) from discontinued operations, net of tax (97,694)   (2,087)   (83,999) (4,525)
Net income (loss) attributable to Enviri Corporation $ (395,995)   $ (47,813)   $ (406,660) $ (56,825)
Weighted-average shares of common stock outstanding (in shares) [1] 27,877   26,876   27,655 26,827
Basic earnings (loss) per common share attributable to Enviri Corporation common stockholders:            
Continuing operations (in dollars per share) $ (10.70)   $ (1.70)   $ (11.67) $ (1.95)
Discontinued operations (in dollars per share) (3.50)   (0.08)   (3.04) (0.17)
Basic earnings (loss) per share attributable to Enviri Corporation common stockholders (in dollars per share) [2] $ (14.21)   $ (1.78)   $ (14.70) $ (2.12)
Diluted weighted-average shares of common stock outstanding (in shares) 27,877   26,876   27,655 26,827
Diluted earnings (loss) per common share attributable to Enviri Corporation common stockholders:            
Continuing operations (in dollars per share) $ (10.70)   $ (1.70)   $ (11.67) $ (1.95)
Discontinued operations (in dollars per share) (3.50)   (0.08)   (3.04) (0.17)
Diluted earnings (loss) per share attributable to Enviri Corporation common stockholders (in dollars per share) [2] $ (14.21)   $ (1.78)   $ (14.70) $ (2.12)
Service            
Revenues from continuing operations:            
Total revenues $ 257,856   $ 258,959   $ 516,126 $ 500,568
Costs and expenses from continuing operations:            
Cost of services and products sold 214,536   214,903   427,723 413,714
Product            
Revenues from continuing operations:            
Total revenues 65,985   57,013   131,763 128,457
Costs and expenses from continuing operations:            
Cost of services and products sold 60,139   68,339   122,403 120,717
Rail contract exit-related adjustments            
Revenues from continuing operations:            
Total revenues (136,499)   0   (136,499) 0
Costs and expenses from continuing operations:            
Cost of services and products sold $ 70,890   $ 0   $ 70,890 $ 0
[1] Weighted-average shares outstanding and earnings per share amounts for periods prior to the completion of the Transactions have been retrospectively adjusted to reflect the impact of the Transactions on the Company's capital structure.
[2] Earnings (loss) per share attributable to Enviri Corporation common stockholders is calculated based on actual amounts. As a result, these per share amounts may not total due to rounding.