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Harsco Corp (HSC) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Harsco Corp

CIK: 45876 Ticker: HSC

Exhibit 99.1
Investor Contact 
David Martin
717.612.5628
damartin@harsco.com
Media Contact
Jay Cooney
717.730.3683
jcooney@harsco.com
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FOR IMMEDIATE RELEASE

HARSCO CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2017 RESULTS

Q4 GAAP Operating Income of $38 Million; Each Business Segment Contributed to Results That Exceeded Guidance Range

Q4 Revenues Increased 26 Percent Compared with the Prior-Year Quarter

Net Cash Provided by Operating Activities Totaled $94 Million in Q4 and $177 Million for 2017

Free Cash Flow Totaled $63 Million in Q4 and $93 Million for the Full-Year; Company's Credit Agreement Net Leverage Ratio Declined as a Result to 1.9x at Year-End

2018 GAAP and Adjusted Operating Income Expected to Increase to be Between $150 Million to $170 Million; Free Cash Flow Anticipated Within a Range of $80 Million and $100 Million

2018 GAAP and Adjusted Diluted Earnings Per Share Expected Between $0.97 and $1.14

CAMP HILL, PA (February 22, 2018) - Harsco Corporation (NYSE: HSC) today reported fourth quarter and full-year 2017 results. On a U.S. GAAP ("GAAP") basis, fourth quarter 2017 diluted loss per share from continuing operations was $0.42, which included expenses incurred to reprice the Company's outstanding term loan as previously disclosed and a provisional non-cash adjustment to the Company's deferred tax assets due to the impact of U.S. tax reform. Excluding these items, diluted earnings per share from continuing operations in the fourth quarter of 2017 were $0.20. These figures compare with fourth quarter of 2016 GAAP diluted loss per share from continuing operations of $0.19 and diluted earnings per share from continuing operations of $0.16, excluding unusual items such as early extinguishment of debt costs and a forward loss provision in Rail.

GAAP operating income from continuing operations for the fourth quarter of 2017 was $38 million, which exceeded the guidance range of $28 million to $33 million previously provided by the Company.

“We finished the year with a strong fourth quarter, and I’m pleased with our achievements in the year,” said President and CEO Nick Grasberger. “Execution of our strategic objectives along with positive market momentum led to a very successful year for Harsco. We exceeded the operating targets established at the beginning of the year, with positive contributions from each operating business. We also continued to generate strong cash flow, realized a meaningful improvement in our ROIC and further strengthened our financial flexibility.”

“We expect that 2018 will be another year of positive momentum for Harsco, with each business again expected to see a year-over-year improvement in underlying performance. Our strategic priorities remain focused on portfolio growth and development as well as serving our customers and operational excellence. We announced a number of growth investments over the past year and I’m very enthusiastic about the pipeline of

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The following information was filed by Harsco Corp (HSC) on Thursday, February 22, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Harsco Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii. Valuation And Qualifying Accounts
Schedule Ii. Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (parenthetical)
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Operations
Accounts Receivable And Inventories
Accounts Receivable And Inventories (details)
Accounts Receivable And Inventories (tables)
Capital Stock
Capital Stock (details 2)
Capital Stock (details 3)
Capital Stock (details)
Capital Stock (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Components Of Accumulated Other Comprehensive Loss
Components Of Accumulated Other Comprehensive Loss (details 2)
Components Of Accumulated Other Comprehensive Loss (details)
Components Of Accumulated Other Comprehensive Loss (tables)
Debt And Credit Agreements
Debt And Credit Agreements (details 2)
Debt And Credit Agreements (details 3)
Debt And Credit Agreements (details)
Debt And Credit Agreements (tables)
Employee Benefit Plans
Employee Benefit Plans (details 2)
Employee Benefit Plans (details 3)
Employee Benefit Plans (details 4)
Employee Benefit Plans (details)
Employee Benefit Plans (tables)
Equity Method Investments (details 2)
Equity Method Investments (details 3)
Equity Method Investments (details)
Equity Method Investments (notes)
Equity Method Investments (tables)
Financial Instruments
Financial Instruments (details 2)
Financial Instruments (details 3)
Financial Instruments (details 4)
Financial Instruments (details 5)
Financial Instruments (details 6)
Financial Instruments (details)
Financial Instruments (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (details 2)
Goodwill And Other Intangible Assets (details)
Goodwill And Other Intangible Assets (tables)
Income Taxes
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details 5)
Income Taxes (details)
Income Taxes (tables)
Information By Segment And Geographic Area
Information By Segment And Geographic Area (details 2)
Information By Segment And Geographic Area (details 3)
Information By Segment And Geographic Area (details 4)
Information By Segment And Geographic Area (details)
Information By Segment And Geographic Area (tables)
Operating Leases
Operating Leases (details)
Operating Leases (tables)
Other Expenses
Other Expenses (details)
Other Expenses (tables)
Property, Plant And Equipment
Property, Plant And Equipment (details)
Property, Plant And Equipment (tables)
Recently Adopted And Recently Issued Accounting Standards
Recently Adopted And Recently Issued Accounting Standards (details)
Stock-based Compensation
Stock-based Compensation (performance Stock Units) (details)
Stock-based Compensation (restricted Stock) (details)
Stock-based Compensation (stock Appreciation Rights) (details)
Stock-based Compensation (stock Options - Range Of Exercise Prices) (details)
Stock-based Compensation (stock Options) (details)
Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: HSC
CIK: 45876
Form Type: 10-K Annual Report
Accession Number: 0000045876-18-000014
Submitted to the SEC: Thu Feb 22 2018 1:35:24 PM EST
Accepted by the SEC: Thu Feb 22 2018
Period: Sunday, December 31, 2017
Industry: Fabricated Structural Metal Products

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