Worldwide industrial services company Harsco Corp. last week reported record second-quarter sales totaling $946 million, a 24-percent jump over the same period in 2006. Second-quarter 2007 diluted earnings per share from continuing operations were $0.91, a 44-percent increase from $0.63 in the same period last year.
Income from continuing operations was $77 million, compared with $53.2 million last year, a 45-percent leap. Overall operating margins improved by 180 basis points to 14.4 from 12.6 percent in the same period last year.
In the Access Services division, second quarter 2007 sales increased 34 percent to $361 million from $270 million in the same period of 2006. Organic sales growth contributed $54 million, about 20 percent, while acquisitions contributed $23 million or 9 percent. Particularly strong results were seen in the United States, Poland, the Middle East, Holland, the United Kingdom and Southern Europe.
The company’s growing investment in access services rental equipment, along with high utilization rates, played a major role in the results.
Harsco is based in Harrisburg, Pa. Its Patent Division, covering North America access business, is No. 18 on the RER 100. Major services include the rental of concrete shoring and forming systems, scaffolding and powered access equipment for non-residential construction, and international multi-dwelling residential construction projects; as well as engineering and equipment erection and dismantling.
