GCP Applied Technologies (GCP) Tops Q4 EPS by 1c; Offers FY19 EPS Guidance

GCP Applied Technologies (NYSE: GCP) reported Q4 EPS of $0.29, $0.01 better than the analyst estimate of $0.28. Revenue for the quarter came in at $285 million versus the consensus estimate of $284.36 million.

• 4Q18 Net sales down 4.6%; Net Sales, Constant Currency* down 1.6%
• 2018 Net sales up 3.8%; Net Sales, Constant Currency* up 4.2%
• 4Q18 Income from continuing operations attributable to GCP shareholders of $19.7 million; Adjusted EBIT* of $32.1 million
• 2018 Loss from continuing operations attributable to GCP shareholders of $16.1 million; Adjusted EBIT* of $118.9 million
• Announces restructuring plan with approximately $25 million expected annualized savings in 2020
• Announces review of strategic alternatives to enhance shareholder value
• 2019 Full-year guidance:
  • Net Sales, Constant Currency* approximately equal to 2018 results
  • Adjusted EBIT* growth of 7% to 14%
  • Adjusted EPS* of $1.03 to $1.14
  • Adjusted Free Cash Flow* of $55 million to $70 million

Gregory E. Poling, GCP's Chief Executive Officer, said, "GCP is well-positioned in the global construction products market due to our leading products and technologies, strong customer relationships and the portfolio enhancements we have made since becoming an independent public company. We are focused on implementing key growth programs including VERIFI®, achieving further cost efficiencies, and delivering value to our customers. Given our leading position and current market dynamics, our Board and management team are exploring strategic alternatives to enhance shareholder value."

GUIDANCE:

GCP Applied Technologies sees FY2019 EPS of $1.03-$1.14, versus the consensus of $1.10.

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

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