Harsco Corporation (HSC) Tops Q1 EPS by 2c, Beats on Revenues; Boosts FY18 Outlook

Harsco Corporation (NYSE: HSC) reported Q1 EPS of $0.21, $0.02 better than the analyst estimate of $0.19. Revenue for the quarter came in at $408.04 million versus the consensus estimate of $390.75 million.

“We are pleased to report strong first quarter results, which exceeded our expectations,” said President and CEO Nick Grasberger. “Harsco executed well in the quarter and a strengthening global economy has become more apparent in recent months. This momentum supports a boost to our 2018 outlook and a more meaningful increase in our key performance measures relative to last year.”

“The initiation of a share repurchase program is another indication of our progress. We have consistently met or exceeded expectations over the past few years and the underlying stability within our businesses has strengthened considerably. The buyback decision reflects our business confidence as well as our financial flexibility. Looking ahead, we are focused on executing against our growth priorities. We are confident these investments will support further earnings growth for Harsco and create additional value for shareholders.”

• Q1 GAAP Operating Income Increased 28 Percent Compared with the Prior-Year Quarter to $37 Million
• Quarterly Operating Results Exceeded Guidance Due to Strong Performance in Metals & Minerals and Industrial Segments, Along with Lower Corporate Spending
• Q1 Revenues Increased 10 Percent Compared with the Prior-Year Quarter, While Diluted Earnings per Share Doubled to $0.22
• 2018 Full Year GAAP and Adjusted Operating Income Guidance Increased to Between $165 Million to $180 Million; Compared with Prior Range of $150 Million to $170 Million
• $75 Million Share Repurchase Program Approved by Harsco Board of Directors (See Related Press Release)

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
• Optimum Communications gets NYSE non-compliance notice over stock price