Harsco Raises 2018 Adj. Operating Income Guidance - Quick Facts

(RTTNews) - Harsco Corp. (HSC) increased its 2018 guidance to reflect revised forecasts for the Industrial and Rail segments, as well as Corporate spending, as compared with the prior guidance. GAAP operating income and adjusted operating income for the full year are expected to range from $177 million to $187 million and $175 million to $185 million, respectively; versus $165 million to $180 million previously. GAAP and adjusted diluted earnings per share from continuing operations for the full year are expected in the range of $1.31 to $1.39 and $1.19 to $1.27, respectively; versus $1.11 to $1.24 previously. For full year, free cash flow is expected in the range of $90 million to $100 million, versus $85 million to $100 million previously.

For the third-quarter, the company projects GAAP and adjusted earnings per share from continuing operations of $0.34 to $0.40.

For the second-quarter, GAAP operating income from continuing operations was $54 million. Excluding unusual items, operating income for the second quarter of 2018 was $52 million, which exceeded the guidance range of $45 million to $50 million previously provided by the company. Excluding items, earnings per share from continuing operations in the second quarter of 2018 were $0.36 compared with second quarter of 2017 GAAP and adjusted earnings per share from continuing operations of $0.22. Total revenues were $432 million, an increase of 9 percent compared with the prior-year quarter as a result of higher revenues in each of the company's business segments.