Exhibit 99.1

 image0a27.jpg
 
Grace News


Media Relations
Rich Badmington
+1 410.531.4370
rich.badmington@grace.com
Investor Relations
Jeremy Rohen
+1 410.531.8234
jeremy.rohen@grace.com
 

Grace Reports Second Quarter 2018 Results Driven by
13% Sales Growth; Raising Full-Year 2018 Adjusted EPS Outlook

Net sales up 13.1% driven by the polyolefin catalysts acquisition, higher sales volumes and continued pricing strength
Diluted EPS of $0.58, down 9.4%; Adjusted EPS of $1.07, up 27.4%
Raising full-year 2018 outlook for Adjusted EPS to $3.90 to $4.00, up from $3.85 to $3.95
COLUMBIA, MD - July 26, 2018 - W. R. Grace & Co. (NYSE: GRA) today announced financial results for the second quarter 2018, summarized in the table below, and is raising full-year 2018 Adjusted EPS outlook.
Summary Financial Results - Total Grace
 
 
 
 
 
(In $ millions, except per share amounts)
2Q18
 
2Q17
 
Change
Net sales
485.7

 
429.5
 
13.1
 %
Net sales, constant currency
 
 
 
 
10.6
 %
Net income
38.8

 
43.9
 
(11.6
)%
 
 
 
 
 
 
Adjusted EBIT
119.5
 
104.0
 
14.9
 %
Adjusted EBIT margin
24.6
%
 
24.2
%
 
0.4 pts

 
 
 
 
 
 
Diluted EPS
$0.58
 
$0.64
 
(9.4
)%
Adjusted EPS
$1.07
 
$0.84
 
27.4
 %
Dividends per share
$0.24
 
$0.21
 
14.3
 %
 
 
 
 
 
 
 
YTD 2018
 
YTD 2017
 
Change
Net cash provided by operating activities
119.0

 
140.5

 
(15.3
)%
Adjusted Free Cash Flow
110.1

 
135.6

 
(18.8
)%
 
 
 
 
 
 
Adjusted EBIT ROIC
20.4
%
 
24.6
%
 
(4.2) pts

Second quarter sales of $485.7 million increased 13.1%, up 10.6% on constant currency. 2Q18 sales included 6.5% growth from the polyolefin catalysts acquisition and continued strong demand for our high-value products.
Adjusted EBIT of $119.5 million was up 14.9%, and Adjusted EBIT margin was up 40 basis points.
Operating cash flow was down 15% and Adjusted Free Cash Flow was down 19% year-over-year, primarily due to higher capital spending of $31.7 million related to our multi-year investment plan to support strategic growth opportunities and productivity initiatives.

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The following information was filed by W R Grace Co (GRA) on Thursday, July 26, 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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