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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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