Cleantech Firm Harsco Reports Q2 Earnings

Harsco (NYSE:HSC), cleantech company primary engaged with wastestream solutions announced its second quarter earnings. During the quarter, Harsco realized US$289 million in revenue, dipping 1 percent since the same time period last year. The quarter also saw strategic transactions, including the acquisition of Clean Earth which is anticipated to generate US$160 million for the remaining portion of 2019.

As quoted in the press release:

“In recent months we took a number of significant strategic actions to position Harsco for growth and value creation, while also delivering second quarter results within our guidance range,” said Chairman and CEO Nick Grasberger. “We announced and closed two strategic transactions, completed a successful financing and launched the rebranded Environmental segment, consistent with our strategy to position Harsco as a global environmental solutions industry leader.”

Mr. Grasberger continued, “Harsco Rail delivered strong performance in the quarter. While a challenging operating environment impacted Environmental’s performance, we expect the segment’s business performance to improve in the second half, with results supported by our ongoing growth investments and focus on improvement initiatives. We will also benefit in the second half from a robust outlook for Clean Earth. With Harsco now focused on less cyclical and higher-growth businesses, we are well positioned to continue our strategic investments while continuing to create value for our customers and shareholders.”

Click here to read the full press release.