W. R. Grace & Co. Q2 Earnings Rise; Revenues Down

(RTTNews) - W. R. Grace & Co. (GRA) Thursday posted second-quarter net income of $82.8 million or $1.07 per share. This compares with last year's net income of $69.3 million or $0.90 per share.

Adjusted earnings per share for the quarter totaled $1.12. On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $1.08 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBIT of $142.1 million decreased from $143.6 million in the prior-year quarter due to lower gross profit and higher operating expenses, partially offset by higher earnings from the Advanced Refining Technologies joint venture.

For the quarter, net sales slid 2.9 percent to $802.8 million, due to lower pricing and unfavorable currency translation, partially offset by higher sales volumes. Analysts expected revenue of $820.35 million for the quarter.