04.08.2016 13:29:54

Harsco Updates FY16 Earnings Guidance; Q2 Profit Beats Estimates - Quick Facts

(RTTNews) - Harsco Corp. (HSC) announced the company now expects adjusted earnings per share for the full year to be in the range of $0.33 to $0.49; compared with previous guidance of $0.13 to $0.33. Harsco said its 2016 outlook is improved to mainly reflect revised forecasts for the Metals & Minerals segment and Corporate spending as compared with the guidance provided as part of its first quarter 2016 results. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.33.

For the third-quarter, Harsco expects adjusted earnings per share in the range of $0.10 to $0.15. Analysts expect the company to report profit per share of $0.11.

Excluding item, earnings per share from continuing operations in the second quarter of 2016 were $0.15. This result compares with earnings per share of $0.08 in the second quarter of 2015. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.10 for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $370 million, compared to $456 million, with the decrease attributable to each of the company's segments. Foreign currency translation negatively affected second quarter 2016 revenues by approximately $13 million. Analysts expected revenue of $377.3 million, for the quarter.

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