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Dec 31, 2020
Harsco Q4 2020 Earnings Report
Reported fourth quarter and full year 2020 results, with adjusted EPS of $0.12 and adjusted EBITDA of $62 million, marking an increase from the sequential and prior-year quarters.
Key Takeaways
Harsco Corporation reported a GAAP operating income of $11 million and a GAAP diluted loss per share of $0.07 for the fourth quarter of 2020. Adjusted earnings per share were $0.12, and adjusted EBITDA totaled $62 million, exceeding the company's guidance range. The company is optimistic about improved operating results across all business segments in 2021.
Fourth Quarter GAAP Operating Income was $11 Million and GAAP Diluted Loss Per Share was $0.07, including unusual items.
Q4 Adjusted Earnings Per Share was $0.12.
Adjusted Q4 EBITDA totaled $62 Million, an increase compared with both the sequential and prior-year quarters.
Full Year 2020 GAAP Operating Income was $21 Million, Adjusted EBITDA was $238 Million, and GAAP Diluted Loss Per Share was $0.41.
Revenue by Segment
Forward Guidance
The Company's 2021 guidance anticipates that each of its three business segments will realize earnings improvement during the year.
Positive Outlook
- Strong backlog positions that provide forward visibility
- Anticipated benefits from the Company's key business initiatives including the ESOL integration
- Improving fundamentals in relevant end markets
- Environmental adjusted EBITDA is expected to increase due to higher services and applied products demand and benefits of growth initiatives, partially offset by higher SG&A spending.
- Clean Earth adjusted EBITDA is projected to increase due to the full-year impact of ESOL ownership, underlying organic growth for hazardous material services and integration benefits, partially offset by an additional allocation of Corporate costs and investments which include various one-time expenditures (such as rebranding and IT integration).
Challenges Ahead
- Rail adjusted EBITDA is anticipated to increase as a result of higher demand for equipment and technology products as well as higher contract services contributions, partially offset by R&D and SG&A investments and lower aftermarket parts contributions.
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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