Loading...
•
Dec 31, 2021
Harsco Q4 2021 Earnings Report
Reported fourth quarter and full year 2021 results, with revenues from continuing operations totaling $462 million and GAAP earnings per share of $0.13.
Key Takeaways
Harsco Corporation reported a 7% increase in fourth-quarter revenues from continuing operations, reaching $462 million. GAAP operating income was $16 million, and adjusted EBITDA totaled $58 million. GAAP earnings per share were $0.13, and adjusted earnings per share were $0.22. The company anticipates continued growth in 2022, projecting adjusted EBITDA between $255 million and $275 million and free cash flow between $30 million and $50 million.
Fourth Quarter Revenues from Continuing Operations Totaled $462 Million, an Increase of 7 Percent from the Prior Year Quarter
Q4 GAAP Operating Income of $16 Million and Adjusted EBITDA Totaled $58 Million; Performance Consistent with Prior Guidance For the Quarter
Q4 GAAP Earnings Per Share of $0.13 and Adjusted Earnings Per Share of $0.22
Full Year 2021 Revenue from Continuing Operations Increased 20 Percent to $1.8 Billion; GAAP Operating Income Increased to $88 million and Adjusted EBITDA Increased to $252 million
Harsco
Harsco
Forward Guidance
The Company's 2022 guidance anticipates that each of its two business segments will realize earnings improvement during the year. This outlook is supported by a positive economic backdrop, improving fundamentals in relevant end markets and anticipated benefits from the Company' s key business initiatives, while also considering certain business challenges such as ongoing supply-chain bottlenecks and labor-market tightness.
Positive Outlook
- Environmental adjusted EBITDA is expected to increase modestly due to higher services and ecoproductsTM demand as well as new environmental contracts
- Clean Earth adjusted EBITDA is projected to increase due to underlying organic growth for hazardous material services and increased margins from operational efficiency initiatives.
- Adjusted Corporate spending is expected to be within a range of $40 million to $42 million for the year.
- GAAP Operating Income $85 - $105 million
- Free Cash Flow $30 - $50 million
Challenges Ahead
- ongoing supply-chain bottlenecks
- labor-market tightness
- Environmental adjusted EBITDA is expected to be partially offset by contract exits and foreign exchange translation impacts.
- Net Interest Expense $61 - $63 million
- Net Capital Expenditures $125 - $130 million