Harsco Q3 Beats Wall Street View (1 Viewer)

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Oct 28 (Reuters) - Harsco Corp (HSC.N), which provides products and services to metals producers, posted better-than-expected quarterly results, helped in part by higher sales at its metals business.

For the July-September quarter, net income was $20.17 million, or 25 cents a share, compared with $20.18 million, or 25 cents a share, a year ago.

On an adjusted basis, the company earned 26 cents a share from continuing operations.

Sales at Harsco, with a market value of about $1.90 billion, rose slightly to $752 million.

Analysts on average had expected earnings of 18 cents a share, before special items, on revenue of $737.3 million, according to Thomson Reuters I/B/E/S.

The Harrisburg, Pennsylvania-based company rents and sells concrete-forming equipment, scaffolding and bridge-decking products primarily to firms in the industrial maintenance and non-residential construction industries.

Metals segment sales rose 14 percent to $313 million while mineral and industrial sales rose 2 percent to $115 million.

Shares of the Philadelphia-based company closed at $23.32 Wednesday on the New York Stock Exchange. They have gained 11 percent in value since July 29 when the company slashed its 2010 earnings view.

Source: Reuters
 
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