In Q1 2026 and the June 1, 2026 closing, Enviri Corp completed the $3 billion sale of its Clean Earth segment to Veolia, simultaneously spinning off the remaining Harsco Environmental and Rail businesses as a new publicly traded entity called New Enviri. This marked a transformational shift from a diversified environmental services platform toward a more focused business model emphasizing industrial environmental services and rail maintenance. The transaction reshapes revenue streams, cash flow characteristics, and operational priorities, while introducing new execution risks around integration and regulatory challenges. Financially, New Enviri entered this phase with moderate liquidity and elevated leverage that will require careful management amid sector-specific demand drivers and cost pressures.