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Third quarter results consistent with July 25, 2019 outlook, reflecting the impact of previously disclosed discrete items
Net sales down 4.9% (down 3.7% on constant currency) on lower sales volumes, partially offset by improved pricing
Diluted EPS of $0.80, up $0.56 or 233.3%
Adjusted EPS of $0.98, down $0.13 or 11.7%
Full-year 2019 earnings outlook incorporates the impact of the Middle East feedstock disruptions (as disclosed on October 1, 2019). Adjusted EPS expected to be in the range of $4.32 to $4.38 down from $4.35 to $4.43
Refining Technologies: an FCC catalysts customer's bankruptcy following an explosion and fire;
Specialty Catalysts: a customer-specific inventory correction in the second half of 2019; and
Materials Technologies: an equipment failure in one of our silicas manufacturing lines (operations fully restored by mid-July).
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The following information was filed by W R Grace Co (GRA) on Thursday, October 24, 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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