Harsco Corporation (NYSE:HSC) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Harsco Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 30.23% to $0.3 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Decreased 1.37% to $760 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Harsco Corporation reported adjusted EPS income of $0.3 per share. By that measure, the company missed the mean analyst estimate of $0.34. It beat the average revenue estimate of $753.02 million.
Quoting Management: “Second quarter earnings per share were within our guidance range and driven by the performance of the Infrastructure, Rail and Industrial businesses,” said Harsco President and CEO Patrick Decker. “The Metals & Minerals business, however, continues to face macro industry challenges and as a result, this business performed below our expectations.
“We are confident that we are taking the steps necessary to better position Harsco for financial and operational success,” continued Mr. Decker. “At the same time, we are also aware of the need to achieve our goals more quickly and deliver more value to all of our stakeholders. To that end, we are executing a comprehensive simplification program that is focused on improving our operating model to increase our speed and ability to execute. We are also continuing to explore ways to optimize our portfolio of businesses to drive future growth. We believe that these initiatives are highly complementary and demonstrate our commitment to improving Harsco’s financial profile and shareholder returns.”
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