|Company Name||Harsco Corporation|
On January 23, 2020, after the market closed, Harsco announced preliminary fourth quarter 2019 financial results, expecting approximately $400 million revenue. The Company also expected adjusted operating income of approximately $31 million, below prior guidance in the range of $53 million to $58 million, citing “operational challenges following the consolidation of Rail’s North American manufacturing into a single facility in South Carolina,” among other things.
On this news, the Company’s share price fell as much as $3.16, or over 16%, during intraday trading on January 24, 2020, thereby injuring investors.
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