What To Expect From Enviri’s (NVRI) Q3 Earnings

Steel and waste handling company Enviri (NYSE:NVRI) will be announcing earnings results tomorrow morning. Here’s what to look for.

Enviri missed analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $610 million, flat year on year. It was a disappointing quarter for the company, with a miss of analysts’ EBITDA and earnings estimates.

Is Enviri a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Enviri’s revenue to grow 17% year on year to $613.6 million, improving from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Enviri has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 9.6% on average.

Looking at Enviri’s peers in the environmental and facilities services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Waste Management delivered year-on-year revenue growth of 7.9%, beating analysts’ expectations by 1.7%, and Republic Services reported revenues up 6.5%, falling short of estimates by 1%. Waste Management traded up 5.2% following the results.

Read our full analysis of Waste Management’s results here and Republic Services’s results here.

Investors in the environmental and facilities services segment have had steady hands going into earnings, with share prices flat over the last month. Enviri’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $16.50 (compared to the current share price of $10.14).

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