Harsco Loss Narrows On Higher Revenues; Stock Rises

(RTTNews) - Harsco Corporation (HSC), a waste management solutions provider, Wednesday reported a net loss from continuing operations of $9.53 million or $0.12 per share for the first quarter, narrower than $39.84 million or $0.09 per share in the same quarter a year ago.

Excluding one-time items, adjusted loss per share from continuing operations was $0.11. Analysts on average polled by Thomson-Reuters expected the company to report loss of $0.29 per share.

Quarterly revenue increased 9% to $495.65 million from $452.8 million last year, due to higher demand as well as pricing for environmental services. The consensus estimate was for $455.92 million.

Looking forward to the full year, the company now sees its adjusted loss from continuing operations in the range of $0.12-$0.33, compared with $0.23-$0.52 provided earlier. The consensus estimate stands at $0.36 loss per share.

Adjusted loss from continuing operations for the second quarter is expected between $0.01 and $0.09. Analysts expect a loss of $0.07 per share for the second quarter.

Harsco shares are up more than 7% in the pre-market. It closed at $6.69, down 2.05% on Tuesday.