Harsco Corporation (NYSE:HSC) Q2 2017 Earnings Conference Call - Final Transcript
Aug 03, 2017 • 09:00 am ET
Good morning. My name is Roshay, and I will be your conference facilitator. At this time, I would like to welcome everyone to the Harsco Corporation Second Quarter Release conference call. All lines have been placed on mute to avoid any background noise. After the speakers remarks, there will be a question-and-answer period. [Operator Instructions]
Also, this telephone conference presentation and accompanying webcast made on behalf of Harsco Corporation are subject to copyright by Harsco Corporation and all rights are reserved. Harsco Corporation will be recording this teleconference. No other recordings or redistribution of this telephone conference by any other party are permitted without the express written consent of Harsco Corporation. Your participation indicates your agreement.
I would now like to introduce Mr. Dave Martin of Harsco Corporation. Mr. Martin, you may begin your call.
Thank you, Roshay and welcome to everyone joining us. I'm Dave Martin, Director of Investor Relations for Harsco. With me today is Nick Grasberger, our President and Chief Executive Officer; and Pete Minan, our Senior Vice President and Chief Financial Officer. This morning, we will discuss the results for the second quarter of 2017 and our outlook for the remainder of the year. We will then take your questions.
Before our presentation, however, let me take care of a few administrative items. First, note that Nick, Pete and I are in different locations today, so please bear with us through any transition and or communication challenges. Secondly, a PDF of our quarterly earnings release as well as the slide presentation for this call have been posted to the IR section of our website. Third, this call is being recorded and webcast. A replay will be available on our website later today.
Next, we will make statements today that are considered forward-looking within the meaning of the federal securities laws. These statements are based on our current knowledge and expectations and are subject to certain risks and uncertainties that may cause actual results to differ materially from these forward-looking statements. For a discussion of such risks and uncertainties, see the Risk Factors section in our most recent 10-K and most recent 10-Q. The company undertakes no obligation to revise or update any forward-looking statements.
Lastly, on this call, we will refer to adjusted financial results that are considered non-GAAP for SEC reporting purposes. A reconciliation to US GAAP results is included in our earnings release today, as well as the slide presentation.
With that being said, I'll turn the call over to Nick.
Thank you, Dave. Good morning, everyone, and thanks for joining us. Second quarter results were quite respectable across our three segments and we've again lifted the full year outlook for profit, cash flow and return on capital. The combination of support of markets and strong internal execution propelled the results in Q2 and we expect these trends to continue.
Overall, most of our key financial metrics are expected to show meaningful improvement over last year. Specifically, we expect that ROIC should approach 10% this