Grace (GRA) Offers Additional Prelim. Metrics Ahead of Asset Separations

W. R. Grace & Co. (NYSE: GRA) announced that in connection with the debt and equity marketing activities relating to the separation of Grace’s Construction Products segment and its Darex Packaging Technologies business to form GCP Applied Technologies Inc. (GCP), Grace is providing certain additional preliminary full year results before its full earnings release on Thursday, Feb. 11, 2016.

For 2015, Grace’s preliminary net sales are expected to be approximately $3.05 billion. Preliminary 2015 net income is expected to be in the range of $148 million to $153 million, or $2.04 to $2.11 per diluted share. Preliminary Adjusted EBIT is expected to be in the range of $617 million to $619 million, and Adjusted EPS is expected to be in the range of $4.76 to $4.79 per diluted share, in line with the company’s October 22, 2015 outlook.

*** The Street sees FY15 revenue of $3.08 billion and EPS of $4.72.

For 2015, preliminary net sales for Grace Construction Products and Darex Packaging Technologies, the businesses that will be spun off as GCP, are expected to be approximately $1.42 billion on a carve out basis and Adjusted EBITDA is expected to be in the range of $256 million to $262 million, on the same basis.

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