Harsco Corporation (HSC) Tops Q3 EPS by 3c

Harsco Corporation (NYSE: HSC) reported Q3 EPS of $0.32, $0.03 better than the analyst estimate of $0.29. Revenue for the quarter came in at $526 million versus the consensus estimate of $516.55 million.

"The third quarter was a bit stronger than expected due to a favorable mix of spare parts and contract services in our Rail business," said President and CEO Nick Grasberger. "This performance builds on the solid financial results we reported earlier in the year. We remain pleased with the progress being made across our businesses. The Metals & Minerals division continues to execute successfully against its key initiatives outlined in Project Orion last spring. Industrial backlogs have surpassed prior record levels, and a growing international presence is boosting the Rail business.

"We expect adjusted operating income for the second half of 2014 to increase at a double-digit rate compared to the second half of last year even though we have reduced our Outlook for the fourth quarter due to delays in asset sales, the timing of a few large Rail orders, foreign exchange effects and the impacts of the ongoing repositioning of our Metals & Minerals business. As we look forward to 2015, we expect a moderate double-digit increase in adjusted operating income and adjusted earnings per share, together with notable improvements in free cash flow and ROIC."

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

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