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Sep 30, 2022
Harsco Q3 2022 Earnings Report
Reported solid third quarter results with revenue increase and improved Clean Earth segment performance.
Key Takeaways
Harsco Corporation reported a 4% increase in third-quarter revenue from continuing operations, totaling $487 million. GAAP operating income was $30 million, and adjusted EBITDA reached $70 million, exceeding the company's guidance range. The Clean Earth segment showed significant improvement, offsetting challenges in Harsco Environmental. The company increased its full-year adjusted EBITDA guidance to between $216 million and $223 million.
Third Quarter Revenues from Continuing Operations Totaled $487 Million, An Increase of 4 Percent Over Prior-Year Quarter.
Q3 GAAP Operating Income from Continuing Operations of $30 Million.
Adjusted EBITDA in Q3 Totaled $70 Million; Higher Year-on-Year and Above Company's Guidance Range Due to Clean Earth Improvement Initiatives and Resulting Performance.
Full Year 2022 Adjusted EBITDA Guidance Range Increased to Between $216 Million and $223 Million
Harsco
Harsco
Harsco Revenue by Segment
Revenue by Segment
Harsco Environmental Revenue
CapyFin.comClean Earth Revenue
CapyFin.com Forward Guidance
The Company has increased the mid-point of its 2022 adjusted EBITDA guidance to reflect an improved outlook for Clean Earth, partially offset by lower expectations for Environmental.
Positive Outlook
- Clean Earth: benefits from improvement initiatives and higher margins
Challenges Ahead
- Environmental: negative impacts from FX translation as well as lower service and ecoproductsTM volumes, which are largely attributable to the energy-crisis in Europe and rising interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income