(RTTNews) - While reporting financial results for the third quarter on Tuesday, Harsco Corp. (HSC) slashed its earnings and adjusted outlook for the full-year 2019 and initiated guidance for the fourth quarter.
For fiscal 2019, the company now projects earnings in a range of $0.86 to $0.92 per share and adjusted earnings in a range of $1.36 to $1.42 per share on revenue growth in the mid-single digits. Previously, it expected earnings in the range of $0.89 to $1.02 per share and adjusted earnings in the range of $1.38 to $1.51 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.43 per share on revenue decline of 1.90 percent to $1.69 billion for the year. Analysts' estimates typically exclude special items.
For the fourth quarter, the company expects earnings in a range of $0.25 to $0.31 per share and adjusted earnings in a range of $0.30 to $0.36 per share. Analysts expect the company to report earnings of $0.35 per share for the quarter.
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