W.R. Grace & Co.'s (GRA) CEO Fred Festa on Q3 2017 Results - Earnings Call Transcript

10/25/17

Great. Thank you, Tania and good morning and thanks for everybody for joining. Grace had solid performance in the third quarter with sales up 6% and adjusted EPS up 13%. This is the fifth quarter in a row of year-over-year top line growth and the third quarter in a row above 5%. Demand was strong across all of our businesses, driven by our value added products and as expected, we achieved sequential gross margin improvement. Overall, I'm very pleased with the way our teams managed through hurricane Harvey's impacts on our customers and logistics in the region.

The hurricane reduced EPS by approximately $0.04 in the quarter. Our strong operating discipline continue to generate cash flow, giving us optionality and flexibility to achieve our growth plans. From our vantage point, the global economy continues to show good demand growth. We have raised our sales outlook for the full year to 6% to 7%, tightened our EPS growth toward the high end of our range, now 8% to 10%, including the impacts from the hurricanes. We also expect to generate over 265 million of adjusted free cash flow as we exit 2017.

READ FULL ARTICLE HERE

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.