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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 2019 Results; Revises Full-Year Outlook

Second Quarter 2019 Highlights (all results based on year-over-year comparison unless otherwise noted)
Net sales up 5.7%, up 8.0% on constant currency, driven by higher sales volumes and improved pricing
Diluted EPS of $1.14, up $0.56 or 96.6%
Adjusted EPS of $1.16, up $0.09 or 8.4%
Full-year 2019 earnings outlook revised down approximately 3% to reflect the impact of discrete items, primarily affecting 3Q19
COLUMBIA, Md., - July 25, 2019 - W. R. Grace & Co. (NYSE: GRA) today announced financial results for the second quarter of 2019, summarized in the table below, and revised its full-year 2019 outlook.
Summary Financial Results - Total Grace
 
 
 
 
 
(In $ millions, except per share amounts)
2Q19
 
2Q18
 
Change
Net sales
$513.6
 
$485.7
 
5.7
 %
Net sales, constant currency1
 
 
 
 
8.0
 %
Net income
76.2

 
38.8
 
96.4
 %
 
 
 
 
 
 
Adjusted EBIT1
126.7
 
119.5
 
6.0
 %
Adjusted EBIT margin1
24.7
%
 
24.6
%
 
0.1 pts

 
 
 
 
 
 
Diluted EPS
$1.14
 
$0.58
 
96.6
 %
Adjusted EPS1
$1.16
 
$1.07
 
8.4
 %
Dividends per share
$0.27
 
$0.24
 
12.5
 %
 
 
 
 
 
 
 
YTD 2019
 
YTD 2018
 
Change
Net cash provided by operating activities
144.9

 
119.0

 
21.8
 %
Adjusted Free Cash Flow1
68.1

 
110.1

 
(38.1
)%
 
 
 
 
 
 
 
TTM 2Q19
 
TTM 2Q18
 
Change
Return on Equity
48.1
%
 
2.3
%
 
45.8 pts

Adjusted EBIT ROIC1
20.3
%
 
20.3
%
 
-
1 See Analysis of Operations and Notes for information on Non-GAAP financial measures.
Second quarter sales of $513.6 million increased 5.7%, up 8.0% on constant currency. Sales growth was driven by higher sales volumes (+5.3%) and improved pricing (+2.7%).

1  grace.com
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The following information was filed by W R Grace Co (GRA) on Thursday, July 25, 2019 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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