H

Harsco Corp
F:HA7

Watchlist Manager
Harsco Corp
F:HA7
Watchlist
Price: 15.2 EUR 0.66%
Market Cap: 1.2B EUR
Financials Section:
Income Statement Balance Sheet Cash Flow Statement
|
Revenue Breakdown

Income Statement

Revenue
+
3Y
+38%
5Y
+54%
10Y
+23%
Operating Income
+
3Y
-17%
5Y
-10%
10Y
-67%
Net Income
+
3Y
+1%
5Y
-
10Y
-434%

Earnings Waterfall
Harsco Corp

Revenue
2.2B USD
Cost of Revenue
-1.8B USD
Gross Profit
413.4m USD
Operating Expenses
-374.1m USD
Operating Income
39.3m USD
Other Expenses
-205.9m USD
Net Income
-166.6m USD

Income Statement
Harsco Corp

Rotate your device to view
Income Statement
Currency: USD
Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
53
50
47
45
43
42
41
41
41
41
40
40
41
41
42
41
42
46
50
55
60
65
71
77
81
80
78
77
73
71
68
64
63
64
63
63
61
56
54
50
49
50
49
48
47
46
48
49
50
49
48
48
47
48
47
47
47
47
49
52
52
51
49
48
27
30
23
17
22
21
22
29
34
41
50
53
58
62
62
62
63
61
62
66
77
86
96
104
107
110
112
113
112
111
110
110
Revenue
2 025
N/A
2 005
-1%
1 979
-1%
1 979
+0%
1 977
0%
2 006
+1%
2 032
+1%
2 052
+1%
2 119
+3%
2 187
+3%
2 268
+4%
2 355
+4%
2 502
+6%
2 586
+3%
2 664
+3%
2 745
+3%
2 396
-13%
2 808
+17%
2 878
+2%
2 954
+3%
3 026
+2%
3 184
+5%
3 364
+6%
3 518
+5%
3 688
+5%
3 836
+4%
3 989
+4%
4 107
+3%
3 968
-3%
3 677
-7%
3 354
-9%
3 054
-9%
2 991
-2%
3 036
+2%
3 046
+0%
3 054
+0%
3 039
0%
3 075
+1%
3 164
+3%
3 268
+3%
3 303
+1%
3 276
-1%
3 172
-3%
3 072
-3%
3 046
-1%
3 009
-1%
2 998
0%
2 981
-1%
2 896
-3%
2 694
-7%
2 469
-8%
2 256
-9%
2 066
-8%
2 005
-3%
1 926
-4%
1 828
-5%
1 723
-6%
1 625
-6%
1 539
-5%
1 478
-4%
1 451
-2%
1 470
+1%
1 495
+2%
1 512
+1%
1 308
-14%
1 259
-4%
1 204
-4%
1 171
-3%
1 348
+15%
1 353
+0%
1 364
+1%
1 436
+5%
1 204
-16%
1 273
+6%
1 370
+8%
1 456
+6%
1 534
+5%
1 583
+3%
1 604
+1%
1 565
-2%
1 848
+18%
1 597
-14%
1 610
+1%
1 626
+1%
1 889
+16%
1 932
+2%
1 971
+2%
2 009
+2%
2 366
+18%
2 174
-8%
2 264
+4%
2 313
+2%
2 343
+1%
2 291
-2%
2 243
-2%
2 244
+0%
Gross Profit
Cost of Revenue
(1 516)
(1 498)
(1 476)
(1 478)
(1 482)
(1 513)
(1 538)
(1 554)
(1 604)
(1 658)
(1 722)
(1 793)
(1 916)
(1 981)
(2 039)
(2 101)
(1 779)
(2 108)
(2 134)
(2 160)
(2 203)
(2 326)
(2 458)
(2 567)
(2 686)
(2 791)
(2 899)
(2 994)
(2 926)
(2 732)
(2 513)
(2 305)
(2 252)
(2 295)
(2 313)
(2 333)
(2 337)
(2 368)
(2 445)
(2 541)
(2 571)
(2 554)
(2 472)
(2 380)
(2 350)
(2 320)
(2 313)
(2 301)
(2 239)
(2 080)
(1 920)
(1 761)
(1 644)
(1 595)
(1 538)
(1 466)
(1 356)
(1 278)
(1 235)
(1 185)
(1 173)
(1 178)
(1 155)
(1 159)
(998)
(960)
(918)
(885)
(1 013)
(1 013)
(1 027)
(1 082)
(930)
(995)
(1 093)
(1 194)
(1 242)
(1 283)
(1 295)
(1 258)
(1 491)
(1 308)
(1 336)
(1 354)
(1 553)
(1 577)
(1 580)
(1 596)
(1 916)
(1 711)
(1 785)
(1 831)
(1 903)
(1 848)
(1 831)
(1 831)
Gross Profit
509
N/A
508
0%
503
-1%
502
0%
495
-1%
493
0%
494
+0%
498
+1%
514
+3%
529
+3%
546
+3%
563
+3%
586
+4%
605
+3%
625
+3%
643
+3%
617
-4%
700
+13%
744
+6%
794
+7%
822
+4%
857
+4%
906
+6%
951
+5%
1 003
+5%
1 045
+4%
1 090
+4%
1 113
+2%
1 041
-6%
945
-9%
841
-11%
748
-11%
738
-1%
741
+0%
733
-1%
721
-2%
702
-3%
708
+1%
719
+2%
726
+1%
732
+1%
722
-1%
700
-3%
692
-1%
697
+1%
689
-1%
686
0%
681
-1%
657
-4%
614
-7%
550
-10%
495
-10%
422
-15%
410
-3%
387
-6%
361
-7%
367
+1%
346
-6%
304
-12%
294
-3%
279
-5%
293
+5%
341
+16%
353
+4%
310
-12%
299
-3%
286
-4%
286
+0%
335
+17%
340
+1%
337
-1%
354
+5%
274
-23%
278
+1%
276
-1%
262
-5%
292
+11%
299
+3%
309
+3%
307
-1%
358
+17%
289
-19%
273
-5%
273
0%
336
+23%
355
+6%
391
+10%
412
+6%
450
+9%
463
+3%
479
+4%
482
+1%
440
-9%
443
+1%
412
-7%
413
+0%
Operating Income
Operating Expenses
(326)
(342)
(341)
(344)
(319)
(321)
(321)
(327)
(340)
(348)
(357)
(364)
(375)
(385)
(388)
(391)
(365)
(413)
(436)
(457)
(478)
(491)
(501)
(519)
(542)
(575)
(610)
(629)
(608)
(595)
(567)
(517)
(511)
(532)
(525)
(531)
(538)
(642)
(650)
(647)
(542)
(635)
(621)
(616)
(510)
(531)
(546)
(548)
(493)
(431)
(405)
(347)
(291)
(274)
(227)
(241)
(252)
(253)
(244)
(213)
(201)
(200)
(205)
(214)
(198)
(192)
(186)
(178)
(206)
(214)
(232)
(245)
(199)
(210)
(205)
(218)
(236)
(247)
(255)
(246)
(272)
(234)
(232)
(225)
(270)
(272)
(276)
(297)
(356)
(324)
(343)
(348)
(363)
(365)
(370)
(374)
Selling, General & Administrative
(314)
(317)
(315)
(319)
(313)
(315)
(316)
(319)
(330)
(338)
(346)
(355)
(368)
(377)
(383)
(388)
(361)
(408)
(428)
(451)
(473)
(488)
(501)
(516)
(538)
(567)
(600)
(620)
(602)
(571)
(541)
(513)
(509)
(520)
(523)
(529)
(533)
(534)
(542)
(539)
(536)
(527)
(512)
(504)
(503)
(499)
(499)
(501)
(482)
(423)
(376)
(319)
(285)
(282)
(262)
(259)
(242)
(229)
(220)
(206)
(197)
(200)
(205)
(215)
(195)
(190)
(185)
(176)
(203)
(211)
(228)
(241)
(198)
(208)
(204)
(219)
(235)
(248)
(255)
(248)
(272)
(235)
(232)
(226)
(268)
(271)
(280)
(300)
(354)
(328)
(341)
(346)
(359)
(361)
(366)
(371)
Research & Development
(4)
(4)
(4)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(2)
(3)
(3)
(3)
(3)
(3)
(3)
(4)
(3)
(3)
(4)
(4)
(5)
(5)
(4)
(4)
(3)
(3)
(4)
(4)
(4)
(5)
(5)
(6)
(6)
(7)
(8)
(9)
(9)
(9)
(9)
(10)
(10)
(10)
(9)
(7)
(6)
(4)
(4)
(4)
(5)
(5)
(4)
(4)
(4)
(4)
(5)
(5)
(3)
(3)
(3)
(3)
(4)
(4)
(4)
(4)
(1)
(4)
(3)
(3)
(1)
(2)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(3)
(2)
(2)
(3)
(4)
(4)
(4)
(4)
Other Operating Expenses
(8)
(21)
(22)
(22)
(3)
(3)
(3)
(5)
(7)
(8)
(8)
(7)
(4)
(5)
(2)
(1)
(1)
(2)
(5)
(4)
(2)
0
3
0
(0)
(4)
(5)
(4)
(1)
(20)
(22)
0
1
(8)
2
2
(1)
(103)
(103)
(103)
(1)
(101)
(102)
(103)
2
(23)
(38)
(38)
(1)
2
(21)
(21)
(1)
12
39
23
(6)
(19)
(20)
(3)
1
4
5
5
0
1
1
1
0
1
(0)
0
0
2
3
3
0
2
2
3
1
2
1
1
(1)
(1)
5
4
2
5
1
1
0
0
0
0
Operating Income
183
N/A
165
-10%
162
-2%
158
-3%
176
+12%
172
-2%
173
+0%
171
-1%
174
+2%
181
+4%
190
+5%
198
+5%
210
+6%
220
+5%
237
+8%
252
+6%
252
0%
287
+14%
309
+8%
337
+9%
345
+2%
366
+6%
405
+11%
432
+7%
461
+7%
470
+2%
481
+2%
484
+1%
433
-10%
350
-19%
274
-22%
231
-16%
227
-2%
210
-8%
208
-1%
190
-9%
164
-14%
66
-60%
70
+6%
79
+14%
190
+140%
87
-54%
79
-10%
77
-2%
186
+143%
158
-15%
140
-11%
133
-5%
164
+24%
183
+11%
144
-21%
148
+3%
131
-11%
136
+4%
160
+18%
120
-25%
114
-5%
94
-18%
60
-36%
81
+35%
78
-4%
93
+19%
136
+46%
139
+3%
112
-19%
107
-5%
100
-7%
109
+9%
129
+19%
126
-2%
105
-17%
110
+5%
76
-31%
68
-10%
72
+5%
44
-39%
56
+29%
52
-6%
55
+5%
61
+12%
86
+40%
55
-36%
42
-24%
47
+13%
66
+40%
83
+25%
115
+39%
115
+0%
94
-18%
138
+47%
136
-2%
133
-2%
77
-43%
78
+1%
42
-46%
39
-6%
Pre-Tax Income
Interest Income Expense
(50)
(44)
(41)
(41)
(39)
(39)
(39)
(38)
(38)
(38)
(38)
(38)
(39)
(39)
(39)
(39)
(39)
(42)
(46)
(51)
(57)
(61)
(66)
(72)
(75)
(74)
(73)
(71)
(69)
(68)
(65)
(61)
(60)
(60)
(60)
(60)
(58)
(54)
(51)
(47)
(46)
(47)
(39)
(33)
(44)
(43)
(40)
(46)
(48)
(47)
(47)
(46)
(45)
(46)
(46)
(45)
(34)
(35)
(36)
(39)
(49)
(50)
(49)
(47)
(24)
(18)
(12)
(5)
(19)
(19)
(20)
(27)
(32)
(40)
(48)
(51)
(56)
(59)
(60)
(60)
(61)
(59)
(60)
(63)
(72)
(80)
(88)
(95)
(100)
(101)
(101)
(104)
(105)
(105)
(108)
(108)
Non-Reccuring Items
(15)
0
0
0
(0)
0
0
0
(0)
0
0
0
(1)
0
0
0
(1)
0
0
0
(0)
0
0
0
(3)
0
0
6
(21)
0
0
(35)
(9)
0
(7)
(1)
(85)
14
12
10
(102)
(41)
(69)
(72)
(361)
(294)
(264)
(512)
(307)
(311)
(315)
(62)
(62)
(60)
(57)
(58)
(37)
(46)
(47)
(47)
(48)
(44)
(45)
(42)
(10)
(11)
(9)
(11)
2
0
(5)
(5)
(7)
(17)
(30)
(44)
(61)
(46)
(23)
(8)
(3)
2
(106)
(110)
(126)
(124)
(39)
(40)
(25)
(42)
(32)
(23)
(56)
(52)
(54)
(72)
Total Other Income
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
(4)
(6)
(8)
(10)
(9)
(9)
(9)
(9)
(19)
(18)
(61)
(60)
(47)
(46)
(2)
(3)
(1)
1
2
2
1
(1)
(3)
(6)
(3)
1
4
7
9
12
14
16
14
12
11
9
1
(6)
(14)
(22)
(20)
(19)
(18)
(17)
(18)
(19)
(20)
Pre-Tax Income
118
N/A
121
+3%
121
0%
117
-3%
137
+17%
133
-2%
134
+1%
132
-2%
136
+3%
143
+5%
152
+6%
161
+6%
171
+7%
181
+6%
198
+9%
214
+8%
212
-1%
245
+15%
263
+7%
286
+9%
288
+1%
305
+6%
339
+11%
360
+6%
382
+6%
397
+4%
408
+3%
419
+3%
343
-18%
282
-18%
210
-26%
136
-35%
159
+17%
150
-6%
141
-6%
129
-9%
21
-84%
26
+25%
31
+21%
41
+33%
42
+1%
(1)
N/A
(29)
-3 167%
(29)
+3%
(219)
-667%
(179)
+18%
(164)
+8%
(425)
-159%
(191)
+55%
(179)
+6%
(223)
-25%
32
N/A
14
-56%
21
+47%
48
+133%
8
-83%
35
+319%
(5)
N/A
(40)
-742%
(65)
-60%
(80)
-23%
(48)
+40%
(4)
+92%
48
N/A
75
+58%
77
+2%
79
+3%
94
+19%
114
+20%
109
-4%
79
-27%
75
-6%
31
-58%
9
-71%
(6)
N/A
(48)
-654%
(54)
-14%
(44)
+19%
(17)
+62%
7
N/A
38
+428%
13
-66%
(111)
N/A
(115)
-4%
(123)
-7%
(120)
+3%
(19)
+84%
(34)
-75%
(53)
-57%
(25)
+53%
(17)
+31%
(11)
+34%
(102)
-818%
(97)
+4%
(139)
-43%
(161)
-15%
Net Income
Tax Provision
(39)
(39)
(37)
(36)
(42)
(41)
(42)
(41)
(42)
(44)
(47)
(48)
(49)
(53)
(58)
(65)
(59)
(70)
(77)
(86)
(93)
(98)
(108)
(112)
(118)
(120)
(118)
(116)
(92)
(69)
(47)
(23)
(19)
(20)
(20)
(21)
(4)
(6)
(6)
(6)
(50)
(50)
(47)
(53)
(35)
(36)
(37)
(34)
(32)
(35)
(29)
(32)
(30)
(38)
(40)
(33)
(28)
(13)
(18)
(16)
(7)
(15)
(14)
(18)
(28)
(28)
(17)
(19)
(17)
(12)
(17)
(18)
(11)
(9)
(3)
11
9
6
(1)
(11)
(9)
(3)
5
3
(10)
(16)
(30)
(24)
(31)
(29)
(29)
(38)
(17)
(17)
(11)
2
Income from Continuing Operations
80
83
84
82
95
92
93
92
94
99
105
113
122
129
139
149
153
175
186
200
194
207
231
248
265
277
290
303
252
213
163
113
140
129
121
107
16
20
25
35
(8)
(51)
(77)
(82)
(254)
(215)
(201)
(459)
(223)
(215)
(252)
0
(16)
(17)
8
(25)
7
(17)
(58)
(80)
(86)
(63)
(19)
30
47
49
63
75
97
97
63
56
20
(0)
(9)
(36)
(46)
(38)
(18)
(4)
28
10
(106)
(112)
(133)
(136)
(49)
(58)
(84)
(54)
(46)
(49)
(119)
(114)
(150)
(159)
Income to Minority Interest
(5)
(5)
(6)
(6)
(6)
(6)
(6)
(7)
(7)
(8)
(8)
(8)
(9)
(9)
(9)
(9)
(9)
(9)
(9)
(9)
(8)
(8)
(8)
(9)
(10)
(10)
(10)
(10)
(6)
(5)
(3)
(5)
(7)
(8)
(9)
(6)
(6)
(5)
(5)
(4)
(2)
(0)
0
(1)
(1)
(3)
(6)
(7)
(10)
(9)
(6)
(5)
(5)
(4)
(5)
(3)
(0)
(1)
(2)
(4)
(6)
(6)
(5)
(4)
(4)
(5)
(6)
(7)
(8)
(8)
(8)
(9)
(8)
(8)
(6)
(5)
(4)
(5)
(5)
(6)
(6)
(6)
(5)
(4)
(4)
(3)
2
2
2
2
(5)
(5)
(5)
(5)
(4)
(4)
Equity Earnings Affiliates
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
1
1
1
1
1
1
1
1
0
1
1
2
0
(4)
2
(2)
4
(0)
(3)
0
(1)
6
6
6
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
(0)
(1)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(1)
(1)
(0)
(0)
(0)
0
0
0
Net Income (Common)
72
N/A
76
+6%
77
+2%
76
-1%
90
+18%
89
-2%
88
-1%
91
+3%
92
+2%
97
+5%
102
+5%
112
+10%
121
+8%
127
+5%
138
+9%
140
+1%
157
+12%
168
+7%
180
+7%
196
+9%
196
+0%
210
+7%
239
+14%
261
+9%
300
+15%
309
+3%
316
+2%
319
+1%
241
-24%
203
-16%
153
-24%
93
-39%
119
+28%
108
-9%
97
-10%
97
N/A
7
-93%
10
+50%
18
+78%
30
+64%
(12)
N/A
(52)
-356%
(77)
-48%
(83)
-7%
(255)
-207%
(218)
+14%
(207)
+5%
(467)
-126%
(233)
+50%
(225)
+3%
(261)
-16%
(3)
+99%
(22)
-616%
(17)
+23%
2
N/A
(31)
N/A
6
N/A
(20)
N/A
(53)
-164%
(77)
-46%
(86)
-11%
(66)
+23%
(21)
+69%
26
N/A
8
-70%
17
+114%
38
+129%
58
+51%
137
+138%
140
+2%
108
-23%
511
+373%
504
-1%
483
-4%
464
-4%
19
-96%
(26)
N/A
(26)
0%
(2)
+91%
15
N/A
(3)
N/A
(43)
-1 247%
(162)
-276%
(168)
-3%
(180)
-7%
(150)
+17%
(56)
+63%
(68)
-23%
(86)
-26%
(95)
-10%
(97)
-2%
(99)
-2%
(128)
-29%
(123)
+4%
(157)
-28%
(167)
-6%
EPS (Diluted)
0.89
N/A
0.93
+4%
0.94
+1%
0.93
-1%
1.09
+17%
1.08
-1%
1.07
-1%
1.1
+3%
1.12
+2%
1.16
+4%
1.22
+5%
1.34
+10%
1.45
+8%
1.51
+4%
1.64
+9%
1.67
+2%
1.86
+11%
1.98
+6%
2.13
+8%
2.31
+8%
2.32
+0%
2.48
+7%
2.82
+14%
3.07
+9%
3.53
+15%
3.63
+3%
3.72
+2%
3.55
-5%
2.86
-19%
2.51
-12%
1.9
-24%
1.15
-39%
1.47
+28%
1.34
-9%
1.2
-10%
1.2
N/A
0.08
-93%
0.12
+50%
0.22
+83%
0.36
+64%
-0.14
N/A
-0.65
-364%
-0.94
-45%
-1.02
-9%
-3.15
-209%
-2.7
+14%
-2.56
+5%
-5.77
-125%
-2.88
+50%
-2.77
+4%
-3.24
-17%
-0.04
+99%
-0.28
-600%
-0.22
+21%
0.03
N/A
-0.38
N/A
0.09
N/A
-0.23
N/A
-0.66
-187%
-0.97
-47%
-1.07
-10%
-0.8
+25%
-0.24
+70%
0.3
N/A
0.09
-70%
0.19
+111%
0.45
+137%
0.68
+51%
1.63
+140%
1.72
+6%
1.34
-22%
6.29
+369%
6.19
-2%
6.13
-1%
5.87
-4%
0.24
-96%
-0.33
N/A
-0.33
N/A
-0.02
+94%
0.18
N/A
-0.04
N/A
-0.54
-1 250%
-2.03
-276%
-2.1
-3%
-2.26
-8%
-1.88
+17%
-0.69
+63%
-0.85
-23%
-1.07
-26%
-1.18
-10%
-1.2
-2%
-1.23
-3%
-1.59
-29%
-1.53
+4%
-1.95
-27%
-2.06
-6%

See Also

Summary
HA7 intrinsic value, competitors valuation, and company profile.
DCF Valuation
HA7 stock valuation using Discount Cash Flow valuation method.
Relative Valuation
HA7 stock valuation using valuation multiples.
Wall Street Estimates
HA7 price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
HA7 stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
ALPHA SPREAD
Follow us
Join more than 307,900+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2026 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.