Harsco Net income (Q3, 2018)34.7 M

Harsco Cash, 30-Sep-201861.7 M

Harsco EV2.3 B

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

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.

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Revenue | 2.9b | 2.1b | 1.7b | 1.5b | 1.6b |

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

## Cost of goods sold | 467.5m | 494.9m | 1.4b | 1.2b | 1.2b |

## Gross profit | 2.4b | 1.6b | 366.7m | 280.8m | 386.3m |

| 84% | 76% | 21% | 19% | 24% |

## R&D expense | 4.5m | 4.3m | 4.2m | ||

## General and administrative expense | 242.1m | 200.4m | 234.7m | ||

## Operating expense total | 278.2m | 217.3m | 243.5m | ||

## EBIT | (134.8m) | 63.5m | 88.5m | 63.5m | 142.8m |

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

## Interest expense | 49.7m | 47.1m | 46.8m | 51.6m | 47.6m |

## Interest income | 2.1m | 1.7m | 1.6m | 2.5m | 2.5m |

## Pre tax profit | 34.8m | (79.5m) | 95.5m | ||

## Income tax expense | (34.9m) | (27.2m) | 27.7m | 6.6m | 83.8m |

## Net Income | (218.2m) | (20.3m) | 6.3m | (79.8m) | 11.8m |

- Source: SEC Filings

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 740.0m | 512.7m | 534.6m | 526.4m | 451.6m | 455.7m | 428.3m | 353.3m | 369.9m | 367.8m | 372.5m | 394.9m | 384.7m | 408.0m | 432.0m | 445.5m |

## Cost of goods sold | 117.8m | 115.5m | 120.7m | 125.8m | 115.2m | 116.6m | 112.0m | 93.2m | 125.4m | 93.5m | 98.9m | 100.7m | 96.5m | 311.4m | 318.9m | |

## Gross profit | 622.2m | 397.2m | 413.9m | 400.5m | 336.4m | 339.2m | 316.3m | 260.0m | 244.5m | 274.3m | 273.7m | 294.2m | 288.2m | 96.7m | 113.1m | |

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

## R&D expense | 3.1m | 2.6m | 2.0m | 854.0k | 919.0k | 1.5m | 1.1m | 882.0k | 956.0k | 910.0k | 831.0k | 1.3m | 1.2m | 1.4m | 1.7m | |

## General and administrative expense | 124.0m | 66.8m | 78.0m | 68.3m | 63.9m | 58.5m | 64.5m | 50.8m | 49.5m | 50.2m | 55.1m | 55.6m | 57.1m | 58.9m | 59.3m | |

## Operating expense total | 948.4m | 480.4m | 528.3m | 480.6m | 412.7m | 420.0m | 420.6m | 343.9m | 368.6m | 339.2m | 344.6m | 352.4m | 350.7m | 60.1m | 59.5m | 388.4m |

## EBIT | (208.4m) | 45.7m | 36.5m | 53.6m | ||||||||||||

| (28%) | 9% | 9% | 12% | ||||||||||||

## Interest expense | 12.8m | 11.4m | 12.0m | 11.9m | 11.9m | 11.8m | 11.1m | 12.4m | 13.8m | 13.8m | 11.7m | 12.4m | 12.1m | 9.6m | 10.0m | 9.7m |

## Interest income | 388.0k | 297.0k | 410.0k | 555.0k | 256.0k | 431.0k | 264.0k | 535.0k | 552.0k | 673.0k | 512.0k | 493.0k | 610.0k | 498.0k | 577.0k | 574.0k |

## Pre tax profit | 28.3m | 44.1m | 48.8m | |||||||||||||

## 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) | 8.3m | 1.9m | (13.8m) |

## Net Income | (231.6m) | 12.5m | (14.0m) | 25.2m | 15.8m | 7.8m | (9.5m) | (9.6m) | (24.3m) | (31.5m) | 10.1m | 19.7m | 13.8m | 19.6m | 42.7m | 34.7m |

- Source: SEC Filings

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Cash | 93.6m | 62.8m | 79.8m | 69.8m | 62.1m |

## Accounts Receivable | 46.5m | 28.1m | 30.4m | 236.6m | 288.0m |

## Inventories | 155.7m | 177.3m | 217.0m | 187.7m | 178.3m |

## Current Assets | 838.8m | 681.8m | 664.5m | 550.3m | 592.1m |

## PP&E | 711.3m | 663.2m | 564.0m | 490.3m | 479.7m |

## Goodwill | 431.3m | 416.2m | 400.4m | 382.3m | 401.8m |

## Total Assets | 2.4b | 2.3b | 2.1b | 1.6b | 1.6b |

## Accounts Payable | 181.4m | 146.5m | 136.0m | 108.0m | 126.2m |

## Dividends Payable | 16.5m | 16.5m | 4.1m | ||

## Short-term debt | 7.5m | 16.7m | 30.2m | 29.8m | 19.8m |

## Current Liabilities | 606.8m | 565.6m | 506.1m | 427.7m | 474.1m |

## Long-term debt | 783.2m | 829.7m | 855.8m | 629.2m | 566.8m |

## Total Debt | 790.6m | 846.5m | 886.0m | 659.1m | 586.6m |

## Total Liabilities | 1.4b | 1.4b | |||

## Common Stock | 140.6m | 141.1m | |||

## Additional Paid-in Capital | 159.0m | 165.7m | 170.7m | 172.1m | 180.2m |

## Retained Earnings | 1.4b | 1.3b | 1.2b | 1.2b | 1.2b |

## Total Equity | 606.8m | 358.3m | 310.8m | 137.6m | 215.2m |

## Debt to Equity Ratio | 1.3 x | 2.4 x | 2.9 x | 4.8 x | 2.7 x |

## Debt to Assets Ratio | 0.3 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x |

## Financial Leverage | 4 x | 6.3 x | 6.7 x | 11.5 x | 7.3 x |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 115.8m | 83.4m | 77.5m | 72.6m | 66.5m | 67.1m | 58.0m | 70.4m | 69.2m | 79.9m | 64.4m | 58.1m | 59.5m | 64.8m | 64.4m | 61.7m |

## Accounts Receivable | 354.1m | 399.7m | 384.6m | 378.3m | 332.0m | 329.5m | 298.2m | 252.7m | 265.2m | 263.5m | 268.0m | 289.3m | 22.6m | 293.0m | 295.4m | 304.2m |

## Inventories | 176.8m | 166.8m | 176.3m | 182.8m | 194.6m | 208.0m | 210.3m | 233.3m | 208.2m | 208.7m | 190.4m | 201.9m | 227.0m | 132.4m | 130.9m | 137.8m |

## Current Assets | 1.5b | 776.7m | 760.6m | 756.4m | 702.0m | 709.4m | 680.7m | 651.4m | 640.1m | 632.6m | 578.3m | 609.1m | 630.1m | 582.8m | 584.1m | 631.6m |

## PP&E | 706.6m | 723.0m | 708.6m | 684.1m | 623.4m | 626.6m | 583.7m | 555.8m | 531.3m | 518.3m | 483.3m | 484.1m | 482.8m | 461.9m | 460.5m | |

## Goodwill | 428.0m | 438.8m | 440.2m | 426.6m | 402.8m | 413.0m | 406.3m | 402.7m | 394.4m | 391.7m | 384.8m | 393.8m | 399.9m | 406.7m | 413.8m | 420.4m |

## Total Assets | 2.8b | 2.4b | 2.4b | 2.4b | 2.3b | 2.3b | 2.1b | 2.0b | 2.0b | 1.7b | 1.6b | 1.6b | 1.7b | 1.6b | 1.6b | 1.7b |

## Accounts Payable | 196.5m | 192.4m | 191.2m | 171.6m | 143.8m | 152.0m | 135.7m | 119.6m | 113.5m | 120.0m | 108.6m | 118.6m | 123.3m | 137.3m | 137.5m | 149.2m |

## Dividends Payable | 16.5m | 16.5m | 16.6m | 16.6m | 16.4m | 16.4m | 16.4m | |||||||||

## Short-term debt | 274.3m | 6.2m | 6.9m | 11.6m | 18.6m | 12.4m | 14.9m | 61.3m | 10.1m | 5.3m | 7.9m | 6.0m | 15.2m | 13.6m | 7.7m | |

## Current Liabilities | 960.5m | 552.1m | 555.2m | 608.3m | 557.0m | 549.5m | 546.4m | 504.5m | 467.9m | 462.9m | 415.5m | 464.9m | 485.8m | 389.7m | 381.3m | 431.1m |

## Long-term debt | 787.6m | 834.3m | 833.8m | 785.4m | 875.3m | 909.2m | 822.4m | 798.5m | 832.3m | 649.5m | 646.6m | 617.7m | 602.7m | 611.7m | 652.4m | 625.4m |

## Total Debt | 1.1b | 840.6m | 840.8m | 797.0m | 893.9m | 921.6m | 837.3m | 859.8m | 842.5m | 654.8m | 654.5m | 623.7m | 602.7m | 626.9m | 666.0m | 633.1m |

## Total Liabilities | 2.2b | 1.8b | 1.8b | 1.8b | 1.9b | 1.9b | 1.8b | 1.7b | 1.7b | 1.4b | 1.4b | 1.5b | 1.5b | 1.3b | 1.3b | 1.4b |

## Common Stock | 140.2m | 140.3m | 140.4m | 140.4m | 140.5m | 140.5m | 140.5m | 140.5m | 140.6m | 140.6m | 140.6m | 141.0m | 141.1m | 141.3m | 141.8m | 141.8m |

## Preferred Stock | ||||||||||||||||

## Additional Paid-in Capital | 158.4m | 161.0m | 163.3m | 165.0m | 166.3m | 167.8m | 169.1m | 172.2m | 169.0m | 170.7m | 176.3m | 178.4m | 178.3m | 183.3m | 185.5m | 187.9m |

## Retained Earnings | 1.4b | 1.4b | 1.3b | 1.4b | 1.3b | 1.3b | 1.2b | 1.2b | 1.2b | 1.2b | 1.2b | 1.2b | 1.2b | 1.2b | 1.2b | 1.3b |

## Total Equity | 605.3m | 603.3m | 575.5m | 583.5m | 347.8m | 311.5m | 273.3m | 322.3m | 300.9m | 293.0m | 168.5m | 186.9m | 210.0m | 246.3m | 266.2m | 304.4m |

## Debt to Equity Ratio | 1.8 x | 1.4 x | 1.5 x | 1.4 x | 2.6 x | 3 x | 3.1 x | 2.7 x | 2.8 x | 2.2 x | 3.9 x | 3.3 x | 2.9 x | 2.5 x | 2.5 x | 2.1 x |

## Debt to Assets Ratio | 0.4 x | 0.3 x | 0.4 x | 0.3 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x |

## Financial Leverage | 4.6 x | 4 x | 4.1 x | 4 x | 6.5 x | 7.2 x | 7.7 x | 6.2 x | 6.5 x | 5.8 x | 9.5 x | 8.8 x | 8 x | 6.4 x | 6.1 x | 5.5 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Net Income | (218.2m) | (20.3m) | 6.3m | (79.8m) | 11.8m |

## Depreciation and Amortization | 221.3m | 164.6m | 156.5m | 141.5m | 129.9m |

## Accounts Receivable | (35.0m) | 7.0m | 41.7m | 16.0m | (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 | 188.3m | 225.8m | 121.8m | 159.9m | 176.9m |

## 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) |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | (231.6m) | 12.5m | (14.0m) | 25.2m | 15.8m | (985.0k) | 25.1m | 15.8m | 23.6m | 14.1m | (9.6m) | (33.9m) | 13.8m | 19.6m | 62.3m | 96.9m |

## Depreciation and Amortization | 33.4m | 66.6m | 99.9m | |||||||||||||

## Accounts Receivable | 33.6m | 31.0m | 21.7m | 22.2m | 23.3m | 19.5m | 16.9m | 17.6m | 21.2m | 22.6m | (4.8m) | (21.4m) | (29.0m) | |||

## Inventories | 176.3m | 182.8m | 194.6m | 208.0m | 210.3m | 233.3m | 208.2m | 208.7m | 190.4m | 227.0m | (11.5m) | (11.2m) | (18.9m) | |||

## Accounts Payable | 191.2m | 171.6m | 143.8m | 152.0m | 135.7m | 119.6m | 113.5m | 120.0m | 108.6m | 123.3m | 7.3m | 7.4m | 17.5m | |||

## Cash From Operating Activities | (8.2m) | 46.7m | 95.0m | |||||||||||||

## Purchases of PP&E | (26.9m) | (56.5m) | (91.3m) | |||||||||||||

## Cash From Investing Activities | (30.3m) | (112.7m) | (135.4m) | |||||||||||||

## Short-term Borrowings | (3.7m) | (3.0m) | ||||||||||||||

## Long-term Borrowings | (2.9m) | (43.2m) | ||||||||||||||

## Dividends Paid | (4.6m) | |||||||||||||||

## Cash From Financing Activities | 39.2m | 70.6m | 43.3m | |||||||||||||

## Net Change in Cash | 1.3m | 878.0k |

USD | Y, 2018 |
---|---|

## EV/CFO | 24.7 x |

## Debt/Equity | 2.1 x |

## Debt/Assets | 0.4 x |

## Financial Leverage | 5.5 x |

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