Harsco Corporation (HSC) Tops Q3 EPS by 8c; Updates FY15 Outlook

Harsco Corporation (NYSE: HSC) reported Q3 EPS of $0.18, $0.08 better than the analyst estimate of $0.10. Revenue for the quarter came in at $428 million versus the consensus estimate of $454.1 million.

Full Year 2015

• Adjusted operating income for the full year is expected to range from $125 million to $130 million; compared with $155 million in 2014 and a previous range of $120 million to $135 million.
• Free cash flow in the range of $50 million to $60 million; compared with $52 million in 2014 and a previous range of $60 million to $80 million.
• Net interest expense is forecasted to range from $44 million to $46 million; compared with a previous range of $48 million to $52 million.
• Equity income from the Brand Energy Joint Venture is expected to be less than $1 million; compared with a previous range of $4 million to $6 million.
• Effective tax rate is expected to range from 44 percent to 46 percent before Brand Energy Joint Venture equity income; compared with a previous range of 42 percent to 44 percent.
• Adjusted earnings per share for the full year in the range of $0.46 to $0.50; compared with $0.76 per share in 2014 and a previous range of $0.41 to $0.55.
• Adjusted return on invested capital is expected to range from 6.0 percent to 6.5 percent; unchanged and compared with 6.8 percent in 2014.

*** The Street sees FY15 EPS of $0.48.

Q4 2015

• Adjusted operating income of $15 million to $20 million in Q4 2015; compared with $29 million in the prior-year quarter.
• Adjusted earnings per share of $0.00 to $0.05 in Q4 2015; compared with $0.09 in the prior-year quarter.

*** The Street sees Q4 revenue of $460.6 million and EPS of $0.12.

For earnings history and earnings-related data on Harsco Corporation (HSC) click here.

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