Harsco Corporation (HSC) Reports In-Line Q4 EPS

Harsco Corporation (NYSE: HSC) reported Q4 EPS of $0.12, in-line with the analyst estimate of $0.12. Revenue for the quarter came in at $400 million versus the consensus estimate of $399.8 million.

“While our results for the fourth quarter were disappointing, 2019 marked a year of significant progress on our key strategic initiatives and our goal to transform Harsco into a single-thesis environmental solutions company,” said Chairman and CEO Nick Grasberger. “We increased investment in Environmental to support growth in our services and product portfolio, while realizing solid margins despite external market pressures. We positioned Rail to grow through product innovation and market penetration, leading to record backlog at year-end. We made significant strides on our transformation with the acquisition of Clean Earth, which has been a steady and strong performer. Also, we sold our Industrial businesses, providing additional financial flexibility and a focus on expanding our presence in higher growth, less cyclical areas. We enter 2020 as a markedly different company than we were last year, well-positioned to drive growth and value creation.”

Mr. Grasberger continued, “The actions we are taking to improve performance in Rail are taking hold, Clean Earth’s momentum is set to continue, and we are cautiously optimistic on key end-markets. As a result, we expect that each of our business segments will deliver improved results in 2020. We are also focused on closing and integrating the ESOL acquisition. ESOL is a business we know well and presents a unique opportunity to accelerate our transformation to a leading, global environmental solutions company. While we made significant strides in 2019, we know we have more work to do. Our priorities for 2020 include improving Rail operations, delivering on our financial targets, strengthening our balance sheet and leveraging our strategic transformation to drive shareholder value.”

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

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