Enviri Raises 2026 Segment EBITDA Outlooks, Targets About $40 Million in Annualized Value

Enviri raised 2026 adjusted EBITDA outlooks for its two continuing segments, lifting Harsco Environmental’s range and narrowing Harsco Rail’s expected loss as it cited higher expected volumes and operating improvements.

Harsco Environmental’s adjusted EBITDA outlook is now $180 million to $184 million, up from the $170 million to $180 million range in Enviri’s prior outlook. Harsco Rail’s expected adjusted EBITDA loss narrowed to $7 million to $10 million from $19 million to $26 million. Both are segment-level outlooks.

Enviri cited higher volume expectations, including services activity at Harsco Environmental and aftermarket activity at Harsco Rail. It also pointed to structural cost optimization and productivity initiatives as factors behind the revised outlooks.

Enviri President and CEO Russell Hochman described the internal improvement program’s target as “approximately $40 million of annualized value.” Chief Financial Officer Peter Minan said the benefits would be roughly split between the two businesses and phased across 2027 and 2028. Enviri also described the goal as approximately $40 million in earnings growth over the next two years.

The company reported $325 million in continuing-operations revenue for the quarter ended Sept. 30, nearly unchanged from a year earlier. Adjusted EBITDA was $47 million, up 21% from $39 million in the third quarter of 2025. Adjusted EBITDA is a non-GAAP measure. Enviri’s revenue and adjusted EBITDA results were covered in an earlier Q3 results story.