GCP Applied Technologies (GCP) Tops Q3 EPS by 2c, Revenues Miss; Lowers FY18 EPS Guidance

GCP Applied Technologies (NYSE: GCP) reported Q3 EPS of $0.34, $0.02 better than the analyst estimate of $0.32. Revenue for the quarter came in at $296.3 million versus the consensus estimate of $299.5 million.

Gregory E. Poling, GCP’s Chief Executive Officer, said, “We are pleased with our third quarter results, as GCP’s sales and earnings grew due to higher price and volumes as well as contributions from our bolt-on acquisitions and our cost reduction program."

Poling continued, “Our Specialty Building Materials business performed well with good project work and strong price capture, resulting in improved gross margin and segment operating income. This quarter, we made progress repositioning our Specialty Construction Chemicals business. We are increasing the penetration of VERIFI®, focusing on higher margin admixture markets and technologies, and reducing our overall cost structure.”

GUIDANCE:

GCP Applied Technologies sees FY2018 EPS of $0.86-$1.00, versus the consensus of $0.94.

For earnings history and earnings-related data on GCP Applied Technologies (GCP) click here.

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