Harsco Q4 Results Top Estimates; Guides Q1, FY23 Below Estimates

(RTTNews) - Harsco Corp. (HSC) reported on Monday a fourth-quarter net loss from continuing operations attributable to common stockholders of $23.75 million or $0.30 per share, compared to net income of $10.12 million or $0.13 per share in the prior-year quarter.

Excluding items, adjusted earnings per share from continuing operations was $0.01, compared to last year's $0.22.

Net loss attributable to common stockholders was $36.72 million or $0.46 per share, wider than $24.34 million or $0.30 per share in the year-ago quarter.

Total revenues from continuing operations for the quarter increased 1 percent to $468.30 million from $462.07 million in the same quarter last year.

On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.07 per share on revenues of $460.05 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter, the company expects to report a loss in a range $0.30 to $0.37 per share and adjusted loss in a range $0.23 to $0.30 per share, both from continuing operations.

For fiscal 2023, the company now projects a loss in a range of $0.50 to $0.80 per share and adjusted loss in a range of $0.23 to 0.52 per share, both from continuing operations.

The Street is currently looking for a loss of $0.08 per share for the quarter and earnings of $0.17 per share for the year.

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