First-quarter earnings: Harsco up, CenturyLink and Weis down
Three companies with extensive operations in Central Pennsylvania report mixed first-quarter results.
Wormleysburg-based Harsco reported first-quarter earnings today that saw the company improve its year-over-year performance.
Excluding special items, adjusted diluted earnings per share from continuing operations in the first quarter 2014 were 16 cents compared with 9 cents in the first quarter of 2013. The quarter included results from the company’s infrastructure segment that was divested during the fourth quarter of 2013, Harsco said in a news release. Adjusted operating income, excluding special items, was $34 million.
Weis Markets Inc.
Weis Markets Inc. reported a first-quarter decline, in part due to the Easter holiday timing. During the 13-week period ending March 29, the company's sales increased 0.6 percent to $687.1 million, while its comparable-store sales were down 1.3 percent compared with the same period a year ago.
During the same period, Weis generated earnings per share of 55 cents compared to 75 cents per share in 2013. The company's first-quarter net income totaled $14.8 million compared to $20.1 million in 2013, down 26.6 percent.
The Easter holiday fell in the first quarter of 2013 and the second quarter of 2014, the Sunbury-based supermarket company noted in a news release.
Weis trades on the NYSE under the ticker symbol WMK and has numerous midstate locations.
CenturyLink Inc., based in Monroe, La., reported an up-and-down first quarter.
The third-largest telecommunications company in the U.S. reported core revenues of $4.1 billion in first quarter 2014, roughly the same as the first quarter 2013. But that's compared with a 2 percent year-over-year decline in first quarter 2013.
Meanwhile, strategic revenues grew 5.4 percent from the first quarter a year ago.
CenturyLink offers Internet and phone services and has an office in Carlisle.
Operating revenues for first quarter 2014 increased to $4.54 billion from $4.51 billion in first quarter 2013. Operating cash flow, excluding special items, decreased to $1.79 billion from $1.93 billion in first quarter 2013.
CenturyLink blamed the cash flow decrease on lower "legacy revenues" and increased expenses. Operating expenses, excluding special items, increased to $3.86 billion from $3.7 billion in first quarter 2013.
CenturyLink's Adjusted Net Income for first quarter 2014 was $381 million compared to $475 million in first quarter 2013. First quarter 2014 adjusted diluted earnings per share was 66 cents compared to 76 cents in the year-ago period.
The company sells its shares on the NYSE under the ticker symbol CTL.