Harsco Corp.'s (HSC) fourth-quarter net income attributable to common shareholders rose to $39.39 million from $13.74 million a year ago.
Earnings per share attributable to the company's common stockholders improved to $0.49 from $0.17 last year. The prior year's quarter included a restructuring charge of $0.28 per share. Excluding this restructuring charge, fourth quarter 2008 earnings per share from continuing operations was $0.46 a share.
On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.44 for the quarter. Analysts' estimate typically excludes one-time items.
Sales in the fourth quarter of 2009 declined about 8% to $772.49 million from $835.55 million in the fourth quarter of last year. Six analysts anticipated revenues of $774.72 million for the quarter.
Looking forward to the first quarter of 2010, Harsco anticipates earnings from continuing operations to be in the range of $0.05 - $0.10 per share. This outlook includes around $8.0 million or $0.08 per share in restructuring costs to accelerate cost reduction initiatives in the Harsco Infrastructure Segment. Five analysts expect first-quarter earnings per share of $0.24.
Additionally, the company reaffirmed its earnings per share guidance for 2010 in the range of $2.00 - $2.10 from continuing operations. Also, the company said it expects free cash flow in 2010 to again be in the area of $250 million. Seven analysts estimate earnings per share of $2.07 for the year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.