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Sep 30, 2021
Harsco Q3 2021 Earnings Report
Reported third quarter results and announced plans to explore strategic alternatives for Rail business.
Key Takeaways
Harsco Corporation reported a 7% increase in third-quarter revenues, totaling $544 million. GAAP operating income was $30 million, and adjusted EBITDA increased by 22% to $72 million. The company announced plans to explore strategic alternatives for its Rail business, aiming to become a pure-play environmental solutions provider.
Third Quarter Revenues totaled $544 Million, an increase of 7 percent from the prior year quarter.
Q3 GAAP Operating Income of $30 Million and Adjusted Q3 EBITDA totaled $72 Million, an increase of 22 Percent From the Prior Year Quarter.
Intends to Explore Strategic Alternatives for Rail Business, continuing the Company's Transformation to a Pure-Play Environmental Solutions Provider; Rail Business to be Reported as Discontinued Operations Beginning in the Fourth Quarter of 2021.
Q4 2021 Adjusted EBITDA Guidance Range for Continuing Operations of $55 Million to $62 Million; Range Also Includes Additional Corporate Costs ($1 Million Per Quarter) Previously Allocated to Rail.
Revenue by Segment
Forward Guidance
The Company's 2021 guidance now excludes Rail, as it will be reported as a discontinued operations going forward. Environmental's 2021 outlook is largely unchanged, while guidance includes a modest revision to Clean Earth's outlook due to infrastructure project delays and disposal constraints as well materials and labor inflation, partially offset by lower administrative spending.
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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