Grace News

Media Relations
Rich Badmington
+1 410.531.4370
Investor Relations
Jeremy Rohen
+1 410.531.8234

Grace Reports Second Quarter 2020 Results; Delivers Strong Operating and Adjusted Free Cash Flow
Second Quarter 2020 Highlights
Net sales of $418.7 million, down 18.5%, reflecting the impact of COVID-19
Diluted EPS of $(0.11), down $1.25 compared with $1.14 a year ago, including a $0.47 charge related to changes in our Refining Technologies manufacturing operations and global footprint to drive capital and operating efficiencies
Adjusted EPS of $0.49, down $0.67
Strong year-to-date operating cash flow up 27.4% and Adjusted Free Cash Flow up 61.1%
Raising full year cash flow benefit of proactive actions from $100 million to $125 million
(See Analysis of Operations and Notes for information on Non-GAAP financial measures; all results based on year-over-year comparison unless otherwise noted.)

COLUMBIA, Md., - July 30, 2020 - W. R. Grace & Co. (NYSE: GRA) today announced financial results for the second quarter of 2020, which were impacted by the COVID-19 pandemic.
“I’m very pleased with how our teams are managing the unique challenges of the pandemic and recession. Our workforce remains safe and healthy, and we have experienced no business continuity issues in our global operations or supply chain," said Hudson La Force, Grace's President and Chief Executive Officer. "I want to publicly thank my leadership team and our 4,000 employees for the results they are delivering. Their creativity, adaptability, and commitment make a significant difference to our customers, their customers, and our fellow employees.”
“The pandemic has significantly disrupted our markets in the short-term, but it has not changed the value of our technology to our customers, our long-term growth potential, or the strategic value of our specialty chemicals franchise. We continue to make strategic investments and are well positioned to capture growth opportunities as our end markets recover.”
“Sales and earnings were better than expected. Our value selling and commercial excellence efforts continue to be robust and our technical teams continue to work closely with customers to deliver the full value of our technologies.”
“Cash flow performance was exceptional. Year-to-date Adjusted Free Cash Flow is 60% higher than last year, even though Adjusted EBIT is almost 40% lower. We've taken decisive actions to mitigate the economic effects of the pandemic and to ensure we generate strong free cash flow this year. We are ahead of plan on these actions and have identified additional opportunities to further improve cash flow this year.”

Talent | Technology | Trust™

The following information was filed by W R Grace Co (GRA) on Thursday, July 30, 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 W R Grace Co'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 W R Grace Co.


Never Miss A New SEC Filing Again

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

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


We Highlighted This SEC Filing For You

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

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


Widen Your SEC Filing Reading Experience

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

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


Uncover Actionable Information Inside SEC Filings

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

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


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 Member Feature

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


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 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) 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


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019) 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


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios Member Feature

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


Log in with your credentials


Forgot your details?

Create Account