$2.1 B

HSC Mkt cap, 15-Oct-2018

$432 M

Harsco Revenue Q2, 2018
Harsco Gross profit (Q2, 2018)113.1 M
Harsco Gross profit margin (Q2, 2018), %26.2%
Harsco Net income (Q2, 2018)42.7 M
Harsco EBIT (Q2, 2018)53.6 M
Harsco Cash, 30-Jun-201864.4 M
Harsco EV2.7 B

Harsco Revenue

Harsco revenue was $1.61 b in FY, 2017 which is a 10.7% year over year increase from the previous period.

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Harsco Revenue Breakdown

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Harsco revenue breakdown by business segment: 18.4% from Harsco Rail, 18.6% from Harsco Industrial, 62.9% from Harsco Metals & Minerals and 0.0% from Other

Harsco revenue breakdown by geographic segment: 47.5% from All Other, 43.4% from U.S. and 9.1% from U.K.

Harsco Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

2.9b2.1b1.7b1.5b1.6b

Revenue growth, %

(29%)(17%)(16%)11%

Cost of goods sold

467.5m494.9m1.4b1.2b1.2b

Gross profit

2.4b1.6b366.7m280.8m386.3m

Gross profit Margin, %

84%76%21%19%24%

R&D expense

4.5m4.3m4.2m

General and administrative expense

242.1m200.4m234.7m

Operating expense total

278.2m217.3m243.5m

EBIT

(134.8m)63.5m88.5m63.5m142.8m

EBIT margin, %

(5%)3%5%4%9%

Interest expense

49.7m47.1m46.8m51.6m47.6m

Interest income

2.1m1.7m1.6m2.5m2.5m

Pre tax profit

34.8m(79.5m)95.5m

Income tax expense

(34.9m)(27.2m)27.7m6.6m83.8m

Net Income

(218.2m)(20.3m)6.3m(79.8m)11.8m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

740.0m512.7m534.6m526.4m451.6m455.7m428.3m353.3m369.9m367.8m372.5m394.9m384.7m408.0m432.0m

Cost of goods sold

117.8m115.5m120.7m125.8m115.2m116.6m112.0m93.2m125.4m93.5m98.9m100.7m96.5m311.4m318.9m

Gross profit

622.2m397.2m413.9m400.5m336.4m339.2m316.3m260.0m244.5m274.3m273.7m294.2m288.2m96.7m113.1m

Gross profit Margin, %

84%77%77%76%74%74%74%74%66%75%73%74%75%24%26%

R&D expense

3.1m2.6m2.0m854.0k919.0k1.5m1.1m882.0k956.0k910.0k831.0k1.3m1.2m1.4m

General and administrative expense

124.0m66.8m78.0m68.3m63.9m58.5m64.5m50.8m49.5m50.2m55.1m55.6m57.1m58.9m

Operating expense total

948.4m480.4m528.3m480.6m412.7m420.0m420.6m343.9m368.6m339.2m344.6m352.4m350.7m60.1m59.5m

EBIT

(208.4m)45.7m36.5m53.6m

EBIT margin, %

(28%)9%9%12%

Interest expense

12.8m11.4m12.0m11.9m11.9m11.8m11.1m12.4m13.8m13.8m11.7m12.4m12.1m9.6m10.0m

Interest income

388.0k297.0k410.0k555.0k256.0k431.0k264.0k535.0k552.0k673.0k512.0k493.0k610.0k498.0k577.0k

Pre tax profit

28.3m44.1m

Income tax expense

(10.8m)(4.5m)(4.3m)(11.7m)(12.9m)(7.1m)(7.0m)2.2m(12.0m)(5.1m)(6.3m)(11.2m)(8.3m)8.3m1.9m

Net Income

(231.6m)12.5m(14.0m)25.2m15.8m7.8m(9.5m)(9.6m)(24.3m)(31.5m)10.1m19.7m13.8m19.6m42.7m

Harsco Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

93.6m62.8m79.8m69.8m62.1m

Accounts Receivable

46.5m28.1m30.4m236.6m288.0m

Inventories

155.7m177.3m217.0m187.7m178.3m

Current Assets

838.8m681.8m664.5m550.3m592.1m

PP&E

711.3m663.2m564.0m490.3m479.7m

Goodwill

431.3m416.2m400.4m382.3m401.8m

Total Assets

2.4b2.3b2.1b1.6b1.6b

Accounts Payable

181.4m146.5m136.0m108.0m126.2m

Dividends Payable

16.5m16.5m4.1m

Short-term debt

7.5m16.7m30.2m29.8m19.8m

Current Liabilities

606.8m565.6m506.1m427.7m474.1m

Long-term debt

783.2m829.7m855.8m629.2m566.8m

Total Debt

790.6m846.5m886.0m659.1m586.6m

Total Liabilities

1.4b1.4b

Common Stock

140.6m141.1m

Additional Paid-in Capital

159.0m165.7m170.7m172.1m180.2m

Retained Earnings

1.4b1.3b1.2b1.2b1.2b

Total Equity

606.8m358.3m310.8m137.6m215.2m

Debt to Equity Ratio

1.3 x2.4 x2.9 x4.8 x2.7 x

Debt to Assets Ratio

0.3 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

4 x6.3 x6.7 x11.5 x7.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

115.8m83.4m77.5m72.6m66.5m67.1m58.0m70.4m69.2m79.9m64.4m58.1m59.5m64.8m64.4m

Accounts Receivable

354.1m399.7m384.6m378.3m332.0m329.5m298.2m252.7m265.2m263.5m268.0m289.3m22.6m293.0m295.4m

Inventories

176.8m166.8m176.3m182.8m194.6m208.0m210.3m233.3m208.2m208.7m190.4m201.9m227.0m132.4m130.9m

Current Assets

1.5b776.7m760.6m756.4m702.0m709.4m680.7m651.4m640.1m632.6m578.3m609.1m630.1m582.8m584.1m

PP&E

706.6m723.0m708.6m684.1m623.4m626.6m583.7m555.8m531.3m518.3m483.3m484.1m482.8m461.9m

Goodwill

428.0m438.8m440.2m426.6m402.8m413.0m406.3m402.7m394.4m391.7m384.8m393.8m399.9m406.7m413.8m

Total Assets

2.8b2.4b2.4b2.4b2.3b2.3b2.1b2.0b2.0b1.7b1.6b1.6b1.7b1.6b1.6b

Accounts Payable

196.5m192.4m191.2m171.6m143.8m152.0m135.7m119.6m113.5m120.0m108.6m118.6m123.3m137.3m137.5m

Dividends Payable

16.5m16.5m16.6m16.6m16.4m16.4m16.4m

Short-term debt

274.3m6.2m6.9m11.6m18.6m12.4m14.9m61.3m10.1m5.3m7.9m6.0m15.2m13.6m

Current Liabilities

960.5m552.1m555.2m608.3m557.0m549.5m546.4m504.5m467.9m462.9m415.5m464.9m485.8m389.7m381.3m

Long-term debt

787.6m834.3m833.8m785.4m875.3m909.2m822.4m798.5m832.3m649.5m646.6m617.7m602.7m611.7m652.4m

Total Debt

1.1b840.6m840.8m797.0m893.9m921.6m837.3m859.8m842.5m654.8m654.5m623.7m602.7m626.9m666.0m

Total Liabilities

2.2b1.8b1.8b1.8b1.9b1.9b1.8b1.7b1.7b1.4b1.4b1.5b1.5b1.3b1.3b

Common Stock

140.2m140.3m140.4m140.4m140.5m140.5m140.5m140.5m140.6m140.6m140.6m141.0m141.1m141.3m141.8m

Preferred Stock

Additional Paid-in Capital

158.4m161.0m163.3m165.0m166.3m167.8m169.1m172.2m169.0m170.7m176.3m178.4m178.3m183.3m185.5m

Retained Earnings

1.4b1.4b1.3b1.4b1.3b1.3b1.2b1.2b1.2b1.2b1.2b1.2b1.2b1.2b1.2b

Total Equity

605.3m603.3m575.5m583.5m347.8m311.5m273.3m322.3m300.9m293.0m168.5m186.9m210.0m246.3m266.2m

Debt to Equity Ratio

1.8 x1.4 x1.5 x1.4 x2.6 x3 x3.1 x2.7 x2.8 x2.2 x3.9 x3.3 x2.9 x2.5 x2.5 x

Debt to Assets Ratio

0.4 x0.3 x0.4 x0.3 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

4.6 x4 x4.1 x4 x6.5 x7.2 x7.7 x6.2 x6.5 x5.8 x9.5 x8.8 x8 x6.4 x6.1 x

Harsco Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(218.2m)(20.3m)6.3m(79.8m)11.8m

Depreciation and Amortization

221.3m164.6m156.5m141.5m129.9m

Accounts Receivable

(35.0m)7.0m41.7m16.0m(32.0m)

Inventories

18.5m(20.0m)(44.8m)(12.3m)19.6m

Accounts Payable

14.3m(28.9m)(136.0k)(20.2m)12.6m

Cash From Operating Activities

188.3m225.8m121.8m159.9m176.9m

Purchases of PP&E

(246.1m)(208.0m)(123.6m)(69.3m)(98.3m)

Cash From Investing Activities

(130.4m)122.9m(103.3m)

Short-term Borrowings

18.9m(2.3m)5.1m

Long-term Borrowings

(399.5m)(979.6m)(108.3m)

Dividends Paid

(70.2m)(5.8m)(2.4m)

Cash From Financing Activities

(248.7m)(21.8m)22.2m(292.4m)(83.7m)

Net Change in Cash

16.9m(7.9m)(5.7m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

(231.6m)12.5m(14.0m)25.2m15.8m(985.0k)25.1m15.8m23.6m14.1m(9.6m)(33.9m)13.8m19.6m62.3m

Depreciation and Amortization

33.4m66.6m

Accounts Receivable

33.6m31.0m21.7m22.2m23.3m19.5m16.9m17.6m21.2m22.6m(4.8m)(21.4m)

Inventories

176.3m182.8m194.6m208.0m210.3m233.3m208.2m208.7m190.4m227.0m(11.5m)(11.2m)

Accounts Payable

191.2m171.6m143.8m152.0m135.7m119.6m113.5m120.0m108.6m123.3m7.3m7.4m

Cash From Operating Activities

(8.2m)46.7m

Purchases of PP&E

(26.9m)(56.5m)

Cash From Investing Activities

(30.3m)(112.7m)

Short-term Borrowings

(3.7m)(3.0m)

Long-term Borrowings

(2.9m)(43.2m)

Dividends Paid

(4.6m)

Cash From Financing Activities

39.2m70.6m

Net Change in Cash

1.3m878.0k

Harsco Ratios

USDY, 2018

EV/EBIT

49.7 x

EV/CFO

57.1 x

Debt/Equity

2.5 x

Debt/Assets

0.4 x

Financial Leverage

6.1 x
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