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April 8, 2014
07:36 EDTHSCHarsco names F. Nicholas Grasberger COO, planned transition to CEO by mid-year
Harsco announced that the board has unanimously selected F. Nicholas Grasberger as the company's president and COO, effective immediately. The appointment is the first step in a planned transition during which Grasberger will continue his duties as CFO while the search for his successor in that role is conducted, and will become the company's president and CEO by mid-year 2014 once this process is complete. To assure solid operating continuity and a seamless transition in these key leadership positions, David Everitt, who has been serving as Interim president and CEO since March 1, will continue as Interim CEO until Grasberger assumes the CEO role.
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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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