Harsco Q3 Profit Down; Updates FY Outlook

(RTTNews) - Harsco Corp. (HSC) posted third quarter net income attributable to common stockholders of $2.08 million or $0.03 per share down from $7.56 million or $0.09 per share in the prior year.

Adjusted earnings per share from continuing operations were $0.10 compared to $0.15 last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenues from continuing operations were $487 million, an increase of 4 percent from the prior-year quarter. Analysts expected revenue of $474.85 million for the quarter.

Looking ahead for the fourth quarter, the company projects loss per share from continuing operations to be in the range of $0.10 - $0.19 and adjusted loss share of $0.02 - $0.12.

For fiscal year 2022, the company now expects loss per share to be in the range of $1.52 - $1.62 compared to the prior estimation of loss per share $1.58 - $1.72

The company now expects annual adjusted results per share to be in the range of loss $0.02 - profit $0.08 compared to the prior outlook of break even per share - loss $0.13 per share.

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