Harsco Corporation (HSC) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET

Company Participants

David Martin - VP of IR

Nick Grasberger - Chairman and CEO

Pete Minan - SVP and CFO

Conference Call Participants

Larry Solow - CJS Securities

Rob Brown - Lake Street Capital Markets

Brian Butler - Stifel

Operator

Good morning. My name is Sarah, and I will be your conference facilitator. At this time, I would like to welcome everyone to the Harsco Corporation First Quarter Release Conference Call. All lines have been placed on mute to prevent any background noise. [Operator Instructions]. Also, this telephone conference presentation and accompanying webcast made on behalf of Harsco Corporation are subject to copyright by Harsco Corporation and all rights are reserved. No recordings or redistributions of this telephone conference by any other party are permitted without the expressed written consent of Harsco Corporation. Your participation indicates your agreement.

I would now like to introduce Dave Martin of Harsco Corporation. Mr. Martin, you may begin your call.

David Martin

Thank you, Sarah, and welcome to everyone joining us this morning. I'm Dave Martin of Harsco. With me today is Nick Grasberger, our Chairman and Chief Executive Officer; and Pete Minan, Harsco's Senior Vice President and CFO. This morning, we will discuss our results for the first quarter of 2023 and our updated outlook for the year. We'll then take your questions.

Before our presentation, however, let me mention a few items. First, our quarterly earnings release as well as a slide presentation for this call are available on our website. Second, we will make statements today that are considered forward-looking within the meaning of the federal securities laws. These statements are based on our current knowledge and expectations and are subject to certain risks and uncertainties that may cause actual results to differ materially from those forward-looking statements for a discussion of such risks and uncertainties in the Risk Factors section in our most recent 10-K.

The company undertakes no obligation to revise or update any forward-looking statements. Lastly, on this call, we may refer to adjusted financial results that are considered non-GAAP for SEC reporting purposes. A reconciliation to GAAP results is included in the earnings release today as well as the slide presentation.

With that said, I'll turn the call to Nick.

Nick Grasberger

Thank you, Dave, and good morning, everyone. Our first quarter was stronger than we expected across both of our continuing segments, Harsco Environmental and Clean Earth as well as in our Rail business, which is a discontinued Operation. The better performance is directly attributed to execution of pricing and cost initiatives as well as certain commercial developments more than it is to improve fundamentals in any of our end markets. Nonetheless, the external environment and our end markets generally appear stable at the moment, and we are lifting our outlook for the year.