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February 18, 2013
10:53 EDTHSCHarsco gets $100M contract in India for metal recovery
Diversified global industrial company Harsco Corporation announced a new multi-year contract valued at more than $100 million with India's largest stainless steel producer, Jindal Stainless Limited, JSL. The 15-year contract, Harsco's second major award in two months within India's rapidly developing steel sector and its first within India's stainless steel sector, calls on Harsco to serve as an onsite resource recovery and material handling partner to JSL's expanding stainless steel production operations in India. Harsco's services are scheduled to begin in the second half of this year and will include the Company's specialized process technologies for recovering metal from stainless steel production by-products, where Harsco has consistently generated metal recovery rates above 99 percent at similar operations throughout the world.
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September 16, 2014
08:17 EDTHSCHarsco sees FY14 adjusted EPS 92c-$1.04, consensus 96c
Sees 2014 adjusted operating profit +10%-20% vs. 2013 at $170M-$180M. Sees FY14 free cash flow $35M-$65M, ROIC 7.5%-8%, net interest expense $43M-$47M, effective tax rate 31%-33%. Says longer-term outlook for business is attractive, says targeting ROIC of 10%-12% for 2017 vs. 6% in 2013. Says primary focus is ROIC. Sees moderate growth in revenue over next three years, sees cash earnings outpacing top-line growth. Says Metals & Minerals initiatives to drive margin improvement. Sees 2014 as "transition year" for Metals & Mining for capital spending. Says attractive acquisitions will be pursued in Rail and Industrial. Says will maintain dividend per share. Says value of minority stake in Brand JV to grow significantly over next three years. Sees EBITDA improving from $330M in 2013 to $440M-$480M in 2017. Sees free cash flow increasing from $20M in 2013 to $115M-$150M in 2017. For 2014, sees improved free cash flow due to Rail advances, reduction in CapEx, sees Project Orion benefits of $5M-$7M, Rail performing in line with plan and prior year, Industrial experiencing favorable volume growth and operating leverage, sees Hammco acquisition accretive. Sees 2014 Metals & Minerals revenues up in the low single digits vs. 2013, sees Industrial revenue up in the high single to low double digits vs. 2013. Comments from slides that will be presented at the 5th Annual Credit Suisse Small & Mid Cap Conference.

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