GCP Applied Technologies Reports Third Quarter 2018 Results

3Q18 Net sales growth of 4.9%; Net Sales, Constant Currency up 7.2%*
3Q18 Net income from continuing operations of $7.2 million
3Q18 Diluted earnings per share from continuing operations of $0.10
3Q18 Adjusted EPS* growth of 54.5% to $0.34
3Q18 Adjusted EBIT* growth of 9.7% to $39.7 million
Updating 2018 financial guidance

Cambridge, MA - November 6, 2018 - GCP Applied Technologies Inc. (NYSE: GCP) today announced third quarter 2018 results.

Total GCP Applied Technologies
($ Millions)
3Q 2018
3Q 2017
% Change
Net sales
Net Sales, Constant Currency*
Gross margin
(60) bps
Adjusted Gross Margin*
(70) bps
Income (loss) from continuing operations attributable to GCP shareholders
Net income (loss) attributable to GCP shareholders
Diluted EPS from continuing operations attributable to GCP shareholders
Adjusted EPS*
Adjusted EBIT*
Adjusted EBIT Margin*
60 bps

Gregory E. Poling, GCP’s Chief Executive Officer, said, “We are pleased with our third quarter results, as GCP’s sales and earnings grew due to higher price and volumes as well as contributions from our bolt-on acquisitions and our cost reduction program."

Poling continued, “Our Specialty Building Materials business performed well with good project work and strong price capture, resulting in improved gross margin and segment operating income. This quarter, we made progress repositioning our Specialty Construction Chemicals business. We are increasing the penetration of VERIFI®, focusing on higher margin admixture markets and technologies, and reducing our overall cost structure.”

*Non-GAAP financial measures. See the tables herein for important information regarding these measures and a reconciliation to the most comparable GAAP measures.
NM - Not meaningful.

The following information was filed by Gcp Applied Technologies Inc. (GCP) on Tuesday, November 6, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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