Harsco Corporation HSC recently announced that its business unit, Harsco Rail, has clinched a $290 million contract from the major railway infrastructure manager of Europe — DB Netz AG.
It’s worth mentioning here that Harsco Rail specializes in providing railway track maintenance products and services throughout the world. It has an extensive geographical presence, primarily in nine locations in the United States, Germany, the United Kingdom, Brazil, India, China and Australia.
Inside the Headlines
Per the seven-year contract, Harsco Rail will be responsible for developing 56 catenary intervention and maintenance vehicles for DB Netz AG in Germany. Notably, the deal comes with an initial order of 16 vehicles, with delivery expected to commence from 2022.
Harsco’s diesel-electric Utility Track Vehicles (UTVs) comes with pure electric traction features through overhead catenary. Notably, the advanced technologies offered by these vehicles help in reducing noise and emission. As noted by the company, these vehicles use a battery and are capable of working up to two hours, without the need for supply of power. As a matter of fact, the delivery of these UTVs will help DB Netz in replacing its old fleet with advanced and environmentally-friendly machinery.
Other Notable Contract
In July, Harsco’s Environmental division secured $38-million contract from Moon Iron & Steel Company S.A.O.C. (“MISCO”). The deal will involve Harsco’s Environmental division to provide mill services starting October 2019 to MISCO’s Sohar, Oman-based steel manufacturing facility. Among mill services, the company will engage in metal recovery, digging under furnace and related cleaning, scrap collection (internal) and related processing, material handling, site cleaning and other activities.
Such contract wins are reflective of Harsco’s commitment toward offering quality products and services to customers. Notably, the latest contract with DB Netz will strengthen the company’s footprint in Europe, whereas the contract with MISCO is likely to boost its foothold in Africa and the Middle East.
Harsco currently sports a Zacks Rank #1 (Strong Buy). In the past month, the company has returned 10.3%, outperforming the industry’s growth of 5.8%.
Other Stocks to Consider
Some other top-ranked stocks from the Zacks Industrial Products sector are Cimpress N.V CMPR, Dover Corporation DOV and Chart Industries, Inc. GTLS. While Cimpress sports a Zacks Rank #1, Dover and Chart Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cimpress’ earnings surprise in the last reported quarter was 137.04%.
Dover pulled off average positive earnings surprise of 6.91% in the trailing four quarters.
Chart Industries delivered average positive earnings surprise of 12.96% in the trailing four quarters.
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