RTTNews | Nov 2, 2021 08:10AM EDT

08:09 Tuesday, November 2, 2021 (RTTNews.com) - Harsco Corp. (HSC) reported Tuesday third-quarter net income from continuing operations attributable to common stockholders of $8.70 million or $0.11 per share, compared to a net loss of $7.84 million or $0.10 per share in the prior-year quarter.

Excluding items, adjusted earnings per share from continuing operations was $0.20, compared to last year's $0.08.

Net income attributable to common stockholders was $0.09 per share, compared to a net loss of $0.12 per share.

Consolidated total revenues for the quarter increased 7 percent to $544.30 million from $509.40 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share on revenues of $578.73 million for the quarter. Analysts' estimates typically exclude special items.

Harsco also announced it will explore strategic alternatives for the Rail business beginning in the first half of 2022, with the intention to sell the business. As a result, the Company will report Rail as discontinued operations beginning in the fourth quarter of 2021. This will continue the Company's transformation to a Pure-Play Environmental Solutions Provider.

Looking ahead to the fourth quarter, the company expects to reported results between a loss of $0.02 per share and a profit of $0.01 per share as well as adjusted earnings in a range of $0.06 to 0.09 per share, both from continuing operations.

For fiscal 2021, the company now projects earnings in a range of $0.12 to 0.14 per share and adjusted earnings in a range of $0.51 to 0.54 per share, both from continuing operations. Previously, the company expected earnings in a range of $0.42 to 0.57 per share and adjusted earnings in a range of $0.82 to 0.96 per share.

The Street is currently looking for earnings of $0.25 per share for the quarter and $0.91 per share for the year.

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