Harsco Corporation (NYSE:HSC) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 02, 2018 • 09:00 am ET


Harsco Corporation (NYSE:HSC) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Good morning. My name is Tasha and I'll be your conference facilitator. At this time, I would like to welcome everyone to the Harsco Corporation First 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 redistributions of this telephone conference by any other party are permitted without the expressed written consent of Harsco Corporation. Your participation indicates your agreement. I would now like to introduce Mr. Dave Martin of Harsco. Mr. Martin, you may begin your call.

David S. Martin

Thank you, Tasha, and welcome to everyone joining us this morning. 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, Harsco's Senior Vice President and Chief Financial Officer. This morning, we will discuss our results for the first quarter of 2018 and our updated outlook for the year. We'll then take your questions.

Before our presentation, however, let me cover a few administrative items. First, the PDF of our quarterly earnings release as well as a slide presentation for this call have been posted to our website. Second, this call is being recorded and webcast. A replay will be available on our website later today. Third, 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. The company undertakes no obligation to revise or update any forward-looking statements. Fourth, 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 as well as the slide presentation. And lastly, note that all prior year operating figures are now restated to reflect the new pension accounting standard. The quarterly impact of these changes for 2017 can be found in the appendix of our earnings release.

Now, I'll turn the call over to Nick to begin his remarks.

Nicholas Grasberger

Thank you, Dave. Good morning, everyone, and thank you for joining us. Let me start by saying that I am, once again, quite pleased with Harsco's continued strong performance, especially in our Metals & Minerals and Industrial segments. Our positive momentum began two years ago and we fully expect this trend to continue. In fact, we are raising our outlook for the balance of 2018 based on supportive end markets and disciplined execution of our growth and productivity programs. We are also initiating a