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Hersha matches Q1 earnings estimate; Harsco reports loss

By - Last modified: May 2, 2012 at 9:58 AM

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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.

Shares of the Hersha stock are traded on the New York Stock Exchange under the ticker symbol HT.

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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.

Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jasons@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

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