W. R. Grace & Co. Q3 Profit Down - Quick Facts

(RTTNews) - Specialty chemicals company W. R. Grace & Co. (GRA) Wednesday posted a lower third-quarter profit, reflecting decrease in revenues.

Net income attributable to W. R. Grace & Co. shareholders was $69.4 million or $0.89 per share, compared with $75.5 million or $0.99 per share last year.

Adjusted earnings for the quarter totaled $1.07 per share. On average, ten analysts polled by Thomson Reuters expected the company to report earnings per share of $1 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBIT increased 1.2 percent to $130.7 million, as higher earnings in Materials Technologies and Construction Products more than offset lower earnings in Catalysts Technologies, the company said.

Net sales for the three-month period decreased 0.7 percent to $771.3 million from prior year's $776.6 million. The company said that the sales decline was due to lower pricing and unfavorable currency translation. Analysts expected the company to generate revenues of $780.22 million for the quarter.

Looking forward, Grace affirmed its prior outlook for 2013 adjusted EBIT in the range of $560 million to $570 million, and adjusted EBITDA in the range of $685 million to $695 million.