Hersha matches Q1 earnings estimate; Harsco reports loss
A midstate hospitality company and Cumberland County-based Harsco Corp. this week reported first-quarter earnings.
Hersha Hospitality Trust, which has offices in Harrisburg and Philadelphia, on Tuesday reported first-quarter adjusted net income of $2.7 million, or 2 cents per diluted share, matching analyst estimates, according to Yahoo Finance.
The prior year quarter was $2.3 million, or 1 cent per share.
In March, Hersha acquired the five-diamond, 111-room Rittenhouse Hotel in downtown Philadelphia, adding to its portfolio of 66 properties in urban gateway markets nationwide. The deal was for $42 million, Hersha said.
The real estate investment trust in January assumed management of the historic Yorktowne Hotel in downtown York.
Harsco today reported a first-quarter net loss of $29.37 million, or 36 cents per diluted share, compared with net income of $11.43 million, or 14 cents per share, in the year-ago quarter.
Analyst had expected a gain of 4 cents per share, according to Yahoo Finance.
The Wormleysburg-based company provides services and products to the railroad, metals production, energy and commercial construction industries.
Shares of Harsco are traded on the NYSE under the ticker symbol HSC.