gcplogoa211.jpg
GCP Applied Technologies Reports First Quarter 2020 Results

Continued positive momentum with 1Q20 results exceeding previous guidance
Well-positioned to navigate COVID-19 pandemic with strong balance sheet and ample liquidity
1Q20 Net sales in North America up 5.0%; Specialty Building Materials net sales up 5.8% in North America; Specialty Construction Chemicals net sales up 4.2% in North America
Fifth consecutive quarter of improved margins for Specialty Construction Chemicals
1Q20 Income from continuing operations attributable to GCP shareholders of $1.4 million, or 0.6% of net sales, and Diluted EPS from continuing operations of $0.02
1Q20 Adjusted EBITDA* up 17.6% to $26.0 million; Adjusted EBIT* increased 25.0% to $15.0 million; and Adjusted EPS* grew 42.9% to $0.10

Cambridge, MA - May 6, 2020 - GCP Applied Technologies Inc. (NYSE: GCP)
, a leading global provider of construction products technologies, today announced results for the first quarter of 2020.

For the three months ended March 31, 2020, GCP reported net sales of $216.7 million compared to $226.1 million in the prior year quarter. Net Sales Constant Currency Excluding Market Exits* were $219.4 million versus $224.3 million in the prior year quarter. Income from continuing operations attributable to GCP shareholders was $1.4 million compared to $14.6 million in the first quarter of 2019, while Adjusted EBITDA* increased 17.6% to $26.0 million from $22.1 million in the prior year quarter. Adjusted EBIT* grew 25.0% to $15.0 million compared to $12.0 million in the prior year quarter. Diluted EPS from continuing operations attributable to GCP shareholders was $0.02 versus $0.20 in the first quarter of 2019, while Adjusted EPS* increased 42.9% to $0.10 compared to $0.07 in the prior year quarter.

Randy Dearth, GCP’s President and Chief Executive Officer, said, "I am pleased with our accomplishments in the first quarter. Our positive business momentum continued as we produced our best first quarter earnings performance since 2016. We are successfully executing the strategy that our Board of Directors and management team partnered to develop, which is focused on further optimizing Specialty Construction Chemicals, returning Specialty Building Materials to sustainable organic growth and continuing to advance our restructuring programs. Our impressive earnings growth and margin expansion clearly demonstrate the beneficial impact of the decisive actions we have taken to improve our operations and position GCP for success.”

Dearth continued, “As we navigate the COVID-19 pandemic, the health and safety of our employees remains our top priority. We are focused on safely continuing to provide the excellent service our customers expect and advancing our operational improvement initiatives, while also maintaining financial flexibility through our strong balance sheet and liquidity position. As we look beyond the pandemic, GCP is well positioned for success, and we will continue to actively and rigorously identify additional ways to drive long-term shareholder value.”

*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 Wednesday, May 6, 2020 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.

View differences made from one quarter to another to evaluate Gcp Applied Technologies Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Gcp Applied Technologies Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account