Harsco Q1 Profit Down, But Lifts FY Profit View
Harsco Corp. (HSC) posted first-quarter net income attributable to common stockholders of $135 thousand down from $141 thousand in the same quarter last year.
Consolidated total revenues from continuing operations were $529 million, an increase of 33 percent compared with the prior-year quarter due to the acquisition of ESOL in April 2020 as well as revenue growth in Environmental and Rail. Foreign currency translation positively impacted first quarter 2021 revenues by approximately $9 million compared with the prior-year period.
Looking ahead for the second-quarter, the company expects earnings per share to be in the range of $0.13 – $0.19, and adjusted earnings per share of $0.21 – $0.27. Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share for the second-quarter. Analysts’ estimates typically exclude special items.
The company has increased its 2021 guidance to reflect business momentum and improved visibility in each of its businesses.
For fiscal year 2021, the company now projects earnings per share to be in the range of $0.45 – $0.59, and adjusted earnings per share of $0.82 – $0.96. The company said in February that it expected earnings per share to be in a range of $0.26 to $0.42 per share and adjusted earnings per share of $0.59 to $0.76. Analysts expect annual earnings of $0.67 per share.
Sotheby's will now accept cryptocurrency, starting with an auction for Banksy's 'Love is in the Air'
- Sotheby’s is accepting cryptocurrency for Bansky’s “Love is in the Air” in an upcoming auction.
- The company said it would accept Bitcoin (BTC) and Ether (ETH) via Coinbase in exchange for the art.
- The company said that the use of cryptocurrency could “expand our client base.”
- See more stories on Insider’s business page.
Sotheby’s says that it will accept cryptocurrency for Bansky’s “Love is in the Air” artwork in an upcoming auction.
The company announced Tuesday it would accept Bitcoin (BTC) and Ether (ETH) via Coinbase in exchange for the artwork.
“With the growing adoption of digital art and NFTs, along with our increased focus on digital innovation, we’ve seen an increasing appetite among collectors for more seamless payment options when doing business with Sotheby’s,” Stefan Pepe, Sotheby’s chief technology officer, said in a statement.
“Leveraging the trusted exchange Coinbase is a natural progression and is in line with our dedication to enhancing our client buying experience and developing new ways to expand our client base by meeting them where they are,” he added.
India trade deal, purpose-built Uber cars and outdoor advertising
Ian King talks to guests on the UK’s new post-Brexit trade deal with India, a new partnership between Uber and Arrival to design purpose-built electric cars for ride-hailing drivers and he explores how the pandemic has affected outdoor advertising revenue.
Hall of Famer and Fox analyst Terry Bradshaw calls Aaron Rodgers ‘weak’ over Packers drama
Hall of Fame quarterback and Fox analyst Terry Bradshaw criticized Green Bay Packers quarterback Aaron Rodgers for how he's handling things with the franchise that drafted him.
"Him being that upset shows me how weak he is," Bradshaw told WFAN's Moose and Maggie in an interview on Monday. "Who the hell cares who you draft? I mean, he’s a three-time MVP in the league and he’s worried about this guy they drafted last year at number one? … And for him to be upset, my God, I don’t understand that."
Rodgers, the reigning NFL MVP, expressed disinterest in returning next season to several members of the Packers organization during the NFL draft last week and one report claimed Rodgers would only return if GM Brian Gutenkunst was removed. The ongoing contentious relationship began when the Packers selected quarterback Jordan Love in the first round of the 2020 draft – shortly before Rodgers' eventual MVP campaign.
49k New COVID Cases, 738 Deaths In US
49,930 new coronavirus cases were reported in the United States on Monday, taking the national total to 33,230,992. The weekly average of daily infection is 49641.
738 new deaths were reported on the same day. With this, the COVID death toll in the U.S. increased to 591,514, according to the latest data from Johns Hopkins University. The 7-day average of COVID deaths is 731.
More than 40 percent of the deaths were reported from California – 320, while Florida reported the highest number of cases – 5521.
A total of 25,908,684 people have so far recovered from coronavirus infection in the country.
Meanwhile, more U.S. states have eased COVID-19 pandemic restrictions.
The Governors of New York, New Jersey, Florida and Connecticut announced a significant easing of restrictions on the regions’ businesses, venues and gatherings in the wake of significant progress made in vaccinations and sustained reduction in coronavirus inefctions and related hospitalizations.
The number of Covid-19 cases in India crossed 20 million Tuesday as the country reels under pressure of a second wave of infections. With 3,449 additional virus-related deaths reporting, the total death toll increased to 222,408.
Beyond Meat Launches New Meat-free Burgers
Beyond Meat Inc. (BYND), a producer of plant-based meat substitutes, said on Tuesday that its latest version of meat-free burger patties will be made available in grocery stores from next week.
The company plans to sell the new version of the burger patties in its first value four-pack, priced at $9.99. Customers can buy the Beyond Burger 3.0 in grocery stores from May 3. The burger patties will be available in restaurants from June onwards.
Beyond Meat said that the new Beyond Burger has 35 percent less total fat than 80/20 ground beef and 35 percent less saturated fat then 80/20 ground beef. It consists of fewer calories and no cholesterol compared to 80/20 ground beef, the company added.
The company’s long-term plans are to inspire meat-loving people to try out their products and this includes reaching price parity with traditional beef by the year 2024.
Beyond’s strategy to encourage meat-lovers to switch to its products includes achieving price parity with beef by 2024.
The four-piece pack has been priced at $9.99 with the average advertised price for a pound of beef patties, or four burgers, was $2.93 in the week, as per U.S. Department of Agriculture data.
The new version burgers will be available in a two-pack and a 1-pound Beyond Beef pack as well.
Commenting on the new product, Chuck Muth, Chief Growth Officer, said, “Improving its meat alternatives helps the company hold onto its market share, even as more competitors offer meatless burgers.”