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Mar 31, 2022
Harsco Q1 2022 Earnings Report
Harsco's first quarter revenues from continuing operations totaled $453 million, with a GAAP operating income of $8 million and an adjusted EBITDA of $49 million, reflecting performance consistent with guidance.
Key Takeaways
Harsco Corporation reported first quarter 2022 results, with revenues from continuing operations totaling $453 million. The company faced a challenging operating environment marked by increased inflationary pressures but met its first quarter guidance. Adjusted EBITDA totaled $49 million, aligning with the previously provided guidance range.
First quarter revenues from continuing operations totaled $453 million.
Q1 GAAP operating income from continuing operations was $8 million, and adjusted EBITDA totaled $49 million, consistent with guidance.
Q1 GAAP loss per share from continuing operations was $0.09, and adjusted loss per share was $0.01.
Full year 2022 adjusted EBITDA guidance narrowed to a range of $250 million to $265 million, with free cash flow projected between $25 million and $40 million.
Harsco
Harsco
Harsco Revenue by Segment
Revenue by Segment
Harsco Environmental Revenue
CapyFin.comClean Earth Revenue
CapyFin.com Forward Guidance
The Company has updated its 2022 guidance to reflect heightened inflation challenges, related to transportation and container costs, as well as ongoing labor-market tightness. Summary Outlook highlights are as follows:
Positive Outlook
- GAAP Operating Income $81 - $96 million
- Adjusted EBITDA $250 - $265 million
- GAAP Diluted Earnings Per Share $0.02 - 0.10
- Adjusted Diluted Earnings Per Share $0.35 - $0.44
- Free Cash Flow $25 - $40 million
Challenges Ahead
- Net Interest Expense $68 - $70 million
- Effective Tax Rate, Excluding Any Unusual Items 59 - 60%
- Q2 2022 Outlook (Continuing Operations)
- GAAP Operating Income $17 - $22 million
- Adjusted EBITDA $59 - $64 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income