W. R. Grace Q3 Profit Falls, Adj. EPS Tops View - Quick Facts

(RTTNews) - Specialty chemicals firm W. R. Grace & Co. (GRA) Wednesday said third-quarter net income declined to $74.5 million or $0.99 per share from $77.0 million or $0.99 per share in the previous year.

Adjusted earnings per share was $1.07, while it totaled $1.17 last year. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 11 percent to $856.4 million from $771.3 million, due to higher sales volumes, improved pricing and favorable currency translation. Analysts expected revenues of $836.70 million.

Fred Festa, CEO, said, "We had a very good quarter. All three businesses achieved solid sales growth and strong margins."