HARSCO CORP - HSC STOCK NEWS

Harsco Corporation has opened a new 10-day hazardous waste transfer facility in Caguas, Puerto Rico, expanding Clean Earth's waste management capacity. This 5,900-square-foot facility enhances transportation for hazardous and non-hazardous waste from Puerto Rico and the U.S. Virgin Islands to the U.S. for processing and recycling. It serves 312 waste generators, supporting enterprise customers in U.S. territories. The facility's opening reflects Clean Earth's commitment to responsible waste handling and its strategy to grow within these markets.

Harsco Corporation (NYSE: HSC) announced a projected operating loss of $95-$97 million for Q2 2022, including a non-cash goodwill impairment of approximately $100 million. The company's Adjusted EBITDA is estimated to be between $47.5 million and $50 million, down from previous guidance. Key business segments showed mixed performance, with Harsco Environmental expecting lower results due to foreign exchange issues, while Clean Earth anticipates a significant decline in EBITDA by about $12 million. Full-year projections have been revised, indicating a loss of $51-$61 million and Adjusted EBITDA of $210-$220 million.

Harsco Corporation (NYSE: HSC) has successfully closed a $150 million accounts receivable securitization facility with PNC Bank, N.A., expecting to initially utilize $120 million of the facility. This asset monetization is projected to save approximately $2 million in annual interest and reduce the company's leverage under its senior secured credit agreement. The facility has a three-year term and can be funded at Harsco’s discretion in future quarters. Senior VP and CFO Anshooman Aga emphasized the importance of reducing leverage and improving cash flow.

Tosyali Harsco, a joint venture between Harsco Environmental and Tosyalı Holding, has secured a multi-year services contract with Kardemir Steel, marking its first agreement in Western Turkey. This contract highlights Tosyali Harsco's commitment to expanding its operations in Turkey's steel sector. Kardemir, a notable steel producer in İzmir, prioritizes environmental safety, which aligns with Tosyali Harsco's expertise in sustainable solutions. The partnership is expected to enhance productivity while maintaining a clean environment for Kardemir's operations.

Clean Earth's TSDF in Detroit, MI has achieved Drug Distributor Accreditation from the National Association of Boards of Pharmacy. This accreditation confirms the facility's compliance with stringent regulatory standards for the destruction of prescription drugs, enhancing its operational reach nationwide. In 2021, the Detroit TSDF safely destroyed over 4 million pounds of prescription drugs, highlighting its role in preventing illegal drug sales and environmental harm. With an audit scheduled for 2025, Clean Earth emphasizes its dedication to public safety and compliance in pharmaceutical waste management.

Harsco Corporation (NYSE: HSC) has announced its participation in several upcoming investor conferences. Key events include the Stifel 2022 Investor Summit at WasteExpo on May 9, 2022, featuring a live webcast, followed by the Goldman Sachs Leveraged Finance and Credit Conference on May 12, the Barrington Research Virtual Spring Conference on May 19, and the KeyBanc Industrials & Basic Materials Conference on June 1. The Loop Capital Markets Conference is scheduled for June 2, with the Stifel Cross Sector Insight Conference concluding the series on June 7.

Harsco Corporation (NYSE: HSC) announced the departure of David Stanton as president of its Clean Earth division, effective May 5, 2022. Stanton is leaving to pursue other opportunities after two years with the company. In the interim, Nick Grasberger, Chairman and CEO, will oversee the Clean Earth business along with the Corporate Executive Leadership Team. Grasberger thanked Stanton for his contributions, particularly in integrating Stericycle's Environmental Solutions into the division. A search for Stanton's successor will commence in the future.