Enviri Corporation (NYSE: NVRI) shares plummeted over 10% in pre-market trading on Thursday, following the company's disappointing fourth quarter 2024 results and tepid outlook for 2025.
The environmental services provider reported Q4 revenue of $559 million, down 7% year-over-year due to business divestitures and unfavorable foreign currency impacts. Enviri posted a net loss of $82 million for the quarter, compared to a net loss of $53 million in the prior year period. Adjusted EBITDA declined 9% to $70 million.
For full year 2024, Enviri's revenue increased 3% organically, while adjusted EBITDA rose 11% organically to $319 million. However, the company recorded a net loss of $119 million, wider than the $84 million net loss in 2023.
Looking ahead, Enviri expects 2025 adjusted EBITDA to be in the range of $305 million to $325 million, higher year-over-year when adjusted for divestitures and currency impacts. Adjusted free cash flow is projected to improve significantly to $30 million to $50 million, driven by an anticipated recovery in its Harsco Rail segment. However, the company's outlook falls short of analyst expectations.