Enviri Corp 10-Q

Financial Statements (unaudited)

ITEM 1. FINANCIAL STATEMENTS ENVIRI CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) March 31 2026 December 31 2025 ASSETS Current assets: Cash and cash equivalents $ 105,697 $ 103,671 Restricted cash 15,779 21,677 Trade accounts receivable, net 285,516 267,439 Other receivables 40,328 46,930 Inventories 173,276 180,548 Current portion of contract assets 32,217 26,968 Prepaid expenses 52,983 61,996 Other current assets 16,314 11,452 Total current assets 722,110 720,681 Property, plant and equipment, net 690,091 699,664 Right-of-use assets, net 133,073 132,323 Goodwill 753,858 758,680 Intangible assets, net 266,508 273,088 Retirement plan assets 55,740 55,743 Deferred income tax assets 24,142 11,419 Other assets 58,587 57,073 Total assets $ 2,704,109 $ 2,708,671 LIABILITIES Current liabilities: Short-term borrowings $ 8,699 $ 11,490 Current maturities of long-term debt 25,835 25,874 Accounts payable 257,326 239,650 Accrued compensation 74,804 67,331 Income taxes payable 5,006 4,083 Reserve for forward losses on contracts 56,743 61,037 Current portion of advances on contracts 8,825 7,982 Derivative liabilities 14,122 20,839 Current portion of operating lease liabilities 29,924 30,077 Other current liabilities 159,408 165,661 Total current liabilities 640,692 634,024 Long-term debt 1,556,751 1,530,309 Retirement plan liabilities 25,912 26,208 Operating lease liabilities 105,538 104,654 Environmental liabilities 38,019 38,256 Deferred tax liabilities 6,495 21,689 Other liabilities 55,791 57,944 Total liabilities 2,429,198 2,413,084 COMMITMENTS AND CONTINGENCIES ENVIRI CORPORATION STOCKHOLDERS’ EQUITY Common stock 152,334 149,519 Additional paid-in capital 272,950 273,436 Accumulated other comprehensive loss ( 509,773 ) ( 514,481 ) Retained earnings 1,200,569 1,211,234 Treasury stock ( 882,901 ) ( 864,646 ) Total Enviri Corporation stockholders’ equity 233,179 255,062 Noncontrolling interests 41,732 40,525 Total equity 274,911 295,587 Total liabilities and equity $ 2,704,109 $ 2,708,671 See accompanying notes to unaudited condensed consolidated financial statements. 6 Table of Contents ENVIRI CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31 (In thousands, except per share amounts) 2026 2025 Revenues from continuing operations: Service revenues $ 484,025 $ 476,463 Product revenues 65,77