Harsco Cut FY EPS Forecast, Issued Q4 EPS Below Analyst Estimates (HSC)
Thu. October 29, 2009; Posted: 10:25 AM
Oct 29, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/29/2009 - Harsco Corp. (NYSE:HSC) cut its full-year EPS forecast on Thursday and issued Q4 guidance below analyst estimates. The company said that two key business trends bode well for its business, including rising global steel production and a weaker dollar, but its direction remains uncertain. CFO Stephen J. Schnoor said in a statement, "It is prudent for us to remain cautious regarding these trends until we gain more confidence in their longer term sustainability." The company sees Q4 EPS of 42 cents to 47 cents, vs. the consensus estimates of 50 cents per share. It now sees full-year EPS of $1.70 to $1.75 per share, vs. the consensus estimates of $1.75 per share, down from a range of $1.72 to $1.82.
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