Harsco Corporation, a provider of equipment and services to rail and other industries, reported 2017 third quarter results, with operating income from continuing operations at $34 million and quarterly revenues up 5 percent compared to last year’s quarter.
The Rail Segment’s revenues were down 10 percent to $51 million as lower equipment shipments offset higher after-market parts and contract services revenues compared with the prior-year quarter.
“Each of Harsco’s businesses performed well in the third quarter and I am pleased that our quarterly financial results exceeded guidance,” said Harsco President and CEO Nick Grasberger. “Metals & Minerals and Rail results were better than anticipated due to favorable business fundamentals and product mix as well as strong operational execution.”
"The underlying market trends and our internal performance in each of our segments are encouraging. As a result, we have raised the mid-point of our operating income outlook for the full year 2017,” added Grasberger. “Looking ahead, we remain focused on initiatives to drive sustainable growth and operational excellence. We are confident that our actions will strengthen capital returns and create value for shareholders."
The company's 2017 Outlook includes a full year operating income expected to range from $132 million to $137 million.