good everyone. and morning, Nick, Thanks,
exciting said. an Let by for day Harsco. and what me Dave echoing start Nick This is
year. I’ll color a transactions first remainder results about more and then our of our highlights bit and provide So, outlook the quarter hit of the the two for
start acquisition of with the So, financial our Earth. of let Clean impact me
earnings this first flow for expect XXXX be be our operating share Clean impact cash be remainder adjusted of margins ownership, Earth of to price year. purchase impact the minimal to estimated year share the XXXX, is will accretive to Its to well. as income, expected considering earnings per the EBITDA, We of full accretive after transaction per accounting. and in In
comments, the thesis implied not synergies significant Clean to central his Earth. our Nick in was capture investment As of on
now, support synergies. of Earth. within functions, application of including the system where These to expect And Clean cost-related business be have are few. we following procurements, end cost major commercial IT, targeting opportunities as identified we to full practices Earth. our to However, our to Right benefits as the synergies through some of diligence, due million Harsco several provide are XXXX. mentioned, Harsco we realize purchasing the and beneficial And will Clean name integration areas implementation and $XX of the well finance by a pretax Nick expect annual we of
Air-X-Changers. let’s the of sale to Now turn
There said for business It’s productivity. As output has has energy business has before, us we’ve U.S. and our the operating the team. also Air-X-Changers strength a as a we $XXX its the no its operating accelerated price, to these capabilities evident expect among profile close a U.S. next months. its of in are energy in unmatched are business, strong the we the industry the very business million and that historically, cycle are investment and to capacity increased And this within customers, high-performing the capital sale investment few its and in expanding its Air-X-Changers contingencies facts been very well-managed of believe industry. benefited of from its in management is improving Air-X-Changers sale reflects material which current has and
cash to to in divestiture, fees. transaction with debt, would this as expect And dilutive the investments a structure we and per will our financial And to continue near use our of earnings share businesses. us make proceeds to give repay in remaining capital you cash from million growth a the Air-X-Changers such of term. sale maintaining be are consistent flexibility to goal net approximate conservative Our to after and tax $XXX expected will
sheet, focused I our mentioned, more in is the primary strong operating our our as towards monetizing its business a value to with performance capture company balance industry now associated to this cycle. objective support in solutions strengthen move Although environmental current and the
sell and balance sheet segment not-too-distant remaining solutions As in IKG plan businesses in and Patterson-Kelley, sale Nick within to will of support our help also the businesses, the also environmental businesses. Proceeds our core our used mentioned, from the we to to rail these future. investing be Industrial and strengthen
after a approximately effect industrial two million Clean Air-X-Changers this which Slide beginning were provides an and Clean to generate these Earth year. $XX combined To Now EBITDA please acquisition both of turn assuming the pro transactions, businesses XX, of and XXXX. summarize Earth in overview forma consummated to Harsco sale of $XX of and forecasted are million the before the Air-X-Changers, the to the of at
following for that aligned nearly transactions, again, account solutions solutions. global ourselves Harsco revenue, is, is positioning of provider leading as will of our point first environmental The with environmental XX% which these a businesses of clearly our go-forward strategy
be should of synergies. particularly after EBITDA anticipated Our the transactions, higher after consideration
also in very can will short distribution of be sales geographical the see little term. that the changed You
given like both industrial Earth, related profile sale considerably we outside Clean organic businesses opportunities, XXXX, in businesses and cyclical the of we’ll less investing sale given our growth the anticipated remaining cyclical. potential of U.S. exiting of potential Air-X-Changers the M&A most some expect beyond Earth of while our be are businesses, Now change to and the Clean inside meaningfully and Also, the the which
it’s worth to this capital-light, Earth of business businesses. a high-return percentage that our Capital spending this approximate is highlighting Minerals is favorably expected for and in sales & Next, Industrial Metals to business. X% X.X% And XXXX. to compares Clean
this to Lastly and structure. I’d and commitment highlight flexible low-cost emphasize slide, our like capital a again on to
was at be expect QX of of year the at end to ratio X.Xx, both leverage this a these at after similar Our transactions. level the and of we end
Xx target unchanged X.Xx. Our remains ratio to leverage at
provide these As outlook, the impact are our transactions an we of long-term after on update these will for transactions closed.
quarter the my of outlook, importance results keep the close news with the exciting which XXXX and today. of given will first me a brief other let I So, remarks discussion
turn So the operating financial XXXX. guidance income $XX $XX adjusted income the a to total of the and And $XX quarter. quarter for million. XX consolidated quarter first of million was the our please Harsco’s in compared with summary Slide range increase with to represented $XX million million operating in this XX% first of compared
Industrial, XX% Rail of more quarter, our a of renew and contributed These income quarter, quarters. Rail within increased year-on-year earlier, sales strong given for revenue rose the our operating grading and businesses. million exchanger Rail in strong range and positive lower performance heat to and had our volume was prior the X.X%. benefited growth segments our and exchange were primarily operating the as parts better mix drove the end volume sales as from more as results Improved which with XX%, our of favorable and sales total in of to between businesses. where a anticipated. and The which income priorities the product timing Industrial some earnings Rail revenues upper quarter. aftermarket mix impacted Applied as the increase favorable investments mentioned operating XX%, of foreign earnings. by Adjusted from of businesses commodity Products M&M segments to driven Industrial in and in mix improvement support foreign and very as and was translation in quarter. contributions XX%. factors in headwinds margin Rail exchange translation Our well offset within the the This SG&A equipment guidance to in Minerals, Metals respectively. Compared Meanwhile, increased we increased and $XX by decrease both Industrial margins is & certain prices linked demand our well improvement net
expected months to headwinds ago, are the progresses. of couple ease year within these a as discussed we M&M As
so for year are or are And only our benefits existing we announcements wins. In publicly number investments related contract We most XXXX. during from our you’ve was adding press later by either the these a seen did site also expect the meaningful growth-related us, some segment likely far. in of location. others additional that win Each new a these at of to a of in that announce. not growth regard, realize M&M a an to from releases There
We’re confident to is significant opportunities in ahead. will that of pipeline the years a provide runway grow our growth and Harsco
profits for Turning to quarter. the
was tax quarter. a a Our XX% the are first the to quarter. range mainly for representing last $X.XX, guidance our unusual adjusted per $X.XX of a $X.XX quarter. few exceeded earnings There lower-than-anticipated share increase to in due versus result year’s items rate This
we just two First, we and support strategy execute incurred professional to corporate fees our discussed. transactions the
of to the accounting plant Minerals. a Secondly, portion you noncash to as related discussed quarter. in in case the incurred we a costs improvements a cash that quarter gain lastly, we traditionally is expected with Rail in last and as exit incurred productivity prior Free Metals & anticipated the site consolidation the related And the quarter. March in and was flow negative we
remainder However, quarter of we the versus to that for meaningfully in flow improve our year, guidance. as by our flow expect fact indicated cash our and will year the the prior cash continue did first free improve
position our sheet, at little X.Xx the of with liquidity on quarter in leverage $XXX our balance Lastly, changed million. EBITDA, ended quarter and was we the
our Now let XX. outlook to Slide XXXX me turn updated on
our quarter of the for business segments appendix First, first that moved of existing slide note the each has to presentation. the been
appendix provide those Harsco within these these guidance specifically segments materials Once does a follow-ups are also we any this updated two and to year full reasonable in Q&A. plan of You or guidance leave please the announced the within well. note considers transactions for the businesses don’t I amount current time. consider transactions on our as outlook not plan will today. we’ll the to that completed, and Also, find to slides, of each comment
a me let So, highlight on Slide few XX, items.
as changes improve. of per continued $X.XX and million to where has full range to projected $X.XX operating million. with be share previously. the per driven $XXX This earnings compared are a range to segments has outlook for income primarily visibility to $X.XX. now to by and to Likewise, $XXX $X.XX year adjusted million the to compares between our Industrial guidance $XXX our is million prior share adjusted year increased our a These $XXX First, of Rail
ago businesses Our levels. than Rail will previously. quarter and we’re during perform remain better the confident higher forecasted In backlogs than the stable that end, than these year sequentially XXX% were more
for increase discussed Minerals we single and income will is outlook steel Our corporate by well segment’s digits will In This new to we’ve continue demand well driven as Metals weighted that M&M, contracts be be the is previously, adjusted high as as improvement, as operating year. higher and second costs to projected & during the unchanged. Altek. by half as expect
million to to Next, our year million. continues plans this are expenditures $XXX $XX of capital $XXX net million, and growth for the spending capital unchanged anticipate range approximately at
a and result, our cash operating have flow of increased free a free flow guidance. midpoint higher growth before spending the to As cash income reflect
expected between our favorably In million This operating Slide Industrial with the comparable of second conclude operating $XX legacy $XX quarter. range in businesses. the quarter, results quarter our again, million with XX, me be the and on to higher income to in for Rail projected Earnings to we compares quarter adjusted second guidance Let XXXX expect in to the XXXX. income $XX of both million. be be second and are quarter, M&M and prior than
spending is corporate year-on-year to timing fees to be professional of forecast Lastly, and due investments. growth higher
turn remarks. your few take that I’ll Nick comments my for before questions. a concludes back point, this So the call And at to we final prepared
