Harsco Corporation (HSC) Tops Q2 EPS by 3c

Harsco Corporation (NYSE: HSC) reported Q2 EPS of $0.36, $0.03 better than the analyst estimate of $0.33. Revenue for the quarter came in at $432 million versus the consensus estimate of $432.65 million.

GUIDANCE:

• GAAP operating income and adjusted operating income for the full year are expected to range from $177 million to $187 million and $175 million to $185 million, respectively; versus $165 million to $180 million previously and compared with 2017 GAAP operating income of $145 million and 2017 adjusted operating income of $150 million.
• GAAP and adjusted diluted earnings per share from continuing operations for the full year are expected in the range of $1.31 to $1.39 and $1.19 to $1.27, respectively; versus $1.11 to $1.24 previously and compared with 2017 GAAP diluted earnings per share of $0.09 and 2017 adjusted diluted earnings per share of $0.74.
• Free cash flow is expected in the range of $90 million to $100 million, versus $85 million to $100 million previously and compared with $93 million in 2017. Also, the free cash flow outlookanticipates net capital expenditures of between $125 million and $135 million and growth-oriented capital spending of $45 million to $50 million in 2018.
• Net interest expense is forecasted to range from $36 million to $37 million; compared with $45 million in 2017.
• The effective tax rate is expected to range from 26 percent to 28 percent.
• Adjusted return on invested capital is expected to range from 14.5 percent to 15.5 percent; compared with 11.5 percent in 2017.

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

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