W R Grace Co (GRA) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Earnings Press Release
10-K Annual Report
10-K YoY Changes
W R Grace Co
Ticker: GRA CIK: 1045309

Exhibit 99.1



	Grace News
Media Relations Rich Badmington T +1 410.531.4370 rich.badmington@grace.com	Investor Relations Tania Almond T +1 410.531.4590 tania.almond@grace.com

Grace Reports Fourth Quarter and Full-Year 2014 Results

Reports 4Q14 Adjusted EPS of $1.37; Announces Additional $500 Million Share Repurchase Program


•	4Q14 sales increased 4% to $804.1 million, up 7% currency adjusted


•	4Q14 Adjusted EBIT increased 21% to $167.9 million, up 27% currency adjusted


•	2014 sales increased 6% to $3.2 billion, up 7% currency adjusted


•	2014 Adjusted EBIT increased 14% to $626.2 million, up 16% currency adjusted


•	2014 Adjusted Free Cash Flow of $452.2 million


•	2014 cash flow includes a favorable impact of $142.5 million, or $1.87 per share due to Grace's low cash tax rate

Columbia, MD - February 5, 2015 - W. R. Grace & Co. (NYSE: GRA)

announced fourth quarter net income of $15.5 million, or $0.21 per diluted share. Net income for the prior-year quarter was $29.7 million, or $0.38 per diluted share. Adjusted EBIT increased 21% to $167.9 million, and fourth quarter Adjusted EPS increased 26% to $1.37 per diluted share.

Net income for the year ended December 31, 2014, was $276.3 million, or $3.63 per diluted share, compared with $256.1 million, or $3.30 per diluted share for the prior year. Adjusted EBIT increased 14% to $626.2 million, and full-year Adjusted EPS increased 1% to $4.43 per diluted share.

“We finished 2014 strong,” said Fred Festa, Grace’s Chairman and Chief Executive Officer. “Catalysts Technologies and Construction Products both showed solid fundamentals with good customer demand and strong margins. Materials Technologies saw demand growth in North America and Asia, but weaker demand in Europe. Commodity and currency markets have shifted significantly in the last three months, creating challenges as well as opportunities. We expect that our flexible, global manufacturing footprint, robust technology portfolio and close customer relationships will enable us to adapt quickly and deliver solid business growth in 2015.”

Fourth Quarter Results

Fourth quarter net sales of $804.1 million increased 3.5% compared with the prior-year quarter, due to higher sales volumes (+5.4%) and improved pricing (+1.4%), partially offset by unfavorable currency translation (-3.3%). Acquisitions contributed 2.4% to sales growth.

Segment Gross Margin (which excludes pension costs) of 40.4% increased 390 basis points compared with the prior-year quarter.

Adjusted EBIT of $167.9 million increased 21.1% from the prior-year quarter primarily due to an increase in segment operating income, including the benefit of acquisitions. Adjusted EBIT margin of 20.9% increased 310 basis points compared with the prior-year quarter.

Adjusted EBIT Return On Invested Capital was 31.2% on a trailing four-quarter basis, compared to 27.3% as of December 31, 2013.



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The following information was filed by W R Grace Co (GRA) on Thursday, February 5, 2015 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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