metals industry is experiencing a slight improvement in demand
with no foreseen headwinds, Harsco Corp. executives said during
a conference call to discuss the companys third-quarter
The Camp Hill,
Pa.-based mill service provider posted a $233.66-million net
loss for the three months ended Sept. 30 in contrast to net
income of $26.4 million in the same period last year on revenue
that slipped 2.2 percent to $740.05 million.
infrastructure division, which it is selling to a New
York-based private equity firm (
amm.com, Sept. 17), kept the company in the red,
recording a $242.1-million operating loss in the third
division posted third-quarter operating earnings of $23.04
million, down 12.6 percent from $26.35 million a year earlier
on a 2.7-percent fall in revenue to $335.71 million from
$344.87 million due to lower nickel and scrap prices, an outage
at a domestic steelmaker it services and a decision to exit
While it is unclear
how the metals industry will perform in 2014, domestic
conditions are the strongest theyve been in months,
president and chief executive officer Patrick Decker said.
The company, which
operates globally, senses a softening in steel production in
China and India.
The company remains
focused on its metals and rail segments, which yield higher
returns. The pending divestiture of its infrastructure division
will net $300 million that will be used to reduce debt.