Harsco Slips To Loss In Q2, Adj. EPS Miss View; Cuts FY14 Operating Income View

(RTTNews) - Harsco Corp. (HSC), a provider of industrial services and engineered products, reported Thursday that its net loss attributable to the common shareholders was $13.98 million or $0.17 per share, compared to profit of $23.80 million or $0.29 per share a year ago.

Loss from continuing operations was $15.07 million or $0.19 per share, compared to profit of $24.33 million or $0.30 per share last year.

Excluding special items, adjusted earnings per share from continuing operations were $0.17, compared to $0.30 in 2013.

On average, three analysts polled by Thomson Reuters expected earnings of $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues were $535 million, as revenue increases in the Metals & Minerals and Industrial segments more than offset the expected declines in Rail segment revenues.

The prior-year quarter 's revenues including the results from the divested Infrastructure business was $760 million, and excluding the business was $509 million.

Analysts expected revenues of $525.45 million for the quarter.

Looking ahead, for the third quarter, the company expects adjusted earnings per share of $0.26 to $0.31, compared to last year's $0.20. Analysts expect $0.31 per share for the quarter. Adjusted operating income is projected to be $43 million to $48 million, compared with $41 million in the prior year.

Further for fiscal 2014, adjusted operating income is now expected to range from $170 million to $180 million, compared to previous range of $170 million to $185 million. In 2013, adjusted operating income was $152 million.

Adjusted earnings per share for the year are expected in the range of $0.92 to $1.04, compared with $0.87 per share in 2013. Analysts expect $1.03 per share for the year.