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Harsco, PPL report earnings

By - Last modified: February 18, 2013 at 11:10 AM

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Two companies with midstate operations reported financial results last week.

Harsco Corp. reported a net loss attributable to common stockholders of $264.4 million, or $3.27 per diluted share, for the fourth quarter of 2012, compared with a net loss of $92.5 million, or $1.14 per diluted share, for the fourth quarter of 2011.

The loss reflects a noncash goodwill impairment charge of $265 million, or $3.29 per share, Harsco said.

Excluding special items, earnings from continuing operations were 30 cents per share in the fourth quarter, Harsco said. Analysts had expected earnings of 31 cents per share, according to Yahoo Finance.

For the year, Harsco reported a loss of $254.6 million, or $3.15 per diluted share, compared with a loss of $11.5 million, or 12 cents per diluted share, for 2011.

Harsco, based in Cumberland County, is a global metals producer and energy services company. Its shares trade on the New York Stock Exchange under the ticker symbol HSC.

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PPL Corp. reported net income of $359 million, or 60 cents per diluted share, for the fourth quarter of 2012, compared with net income of $454 million, or 78 cents per diluted share, for the fourth quarter of 2011.

Adjusting for special items, PPL earned 49 cents per share in the fourth quarter, compared with 71 cents per share in the fourth quarter of 2011. Analysts had expected earnings of 47 cents per share, according to Yahoo Finance.

For the year, PPL reported net income of $1.53 billion, or $2.60 per diluted share, compared with $1.5 billion, or $2.70 per diluted share, for 2011.

Per-share earnings in 2012 reflect a dilution of 14 cents per share due to a stock issue in April 2011 to fund an acquisition in the United Kingdom, PPL said.

Excluding special items, PPL’s earnings were $2.42 per diluted share in 2012, compared with $2.73 per share in 2011.

PPL, based in Allentown, is the parent company of PPL Electric Utilities Corp., which provides electricity distribution service to more than 430,000 midstate customers. Its shares trade on the New York Stock Exchange under the ticker symbol PPL.

 

Write to the Editorial Department at editorial@cpbj.com

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