This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Harsco Posts 1Q Loss, Adj. Results Top Street

CAMP HILL, Pa. (AP) â¿¿ Harsco Corp. said Wednesday that it lost money in its first quarter, a period in which it was burdened by a large restructuring charge.

The industrial services and engineered products company also lowered its second-quarter earnings outlook, saying the timing of a one-time gain may shift to the third quarter.

Its stock dropped 80 cents, or 3.6 percent, to $21.51 in midday trading. Over the past year, the shares have traded between $17.77 and $35.92.

Harsco lost $29.4 million, or 36 cents per share, for the period ended March 31. A year earlier it earned $11.4 million, or 14 cents per share.

Excluding a restructuring charge of 41 cents per share and other one-time items, earnings were 7 cents per share.

The performance beat the 4 cents per share that analysts polled by Fact Set expected.

Revenue slipped 3 percent to $752.3 million from $779.1 million, pulled down by unfavorable foreign currency translation and lower sales in its infrastructure and metals and minerals segments.

But the results topped Wall Street's forecast of $738.2 million.

Harsco now expects second-quarter earnings of 32 cents to 38 cents per share. The Camp Hill, Pa. company said its revised guidance excludes a one-time gain of 4 cents per share related to its restructuring. Harsco said the gain may now occur in the third quarter, so it is taking it out of its second-quarter forecast.

Analysts predict second-quarter earnings of 48 cents per share.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%
TSLA $247.54 -0.07%
YHOO $36.59 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs