W.R. Grace & Co. (GRA) Tops Q2 EPS by 2c, Offers Outlook

W.R. Grace & Co. (NYSE: GRA) reported Q2 EPS of $0.49, $0.02 better than the analyst estimate of $0.47. Revenue for the quarter came in at $418.7 million versus the consensus estimate of $398.81 million.

2020 Financial Outlook:

Full-Year 2020 Outlook and 2016-2021 Financial Framework

On April 30, 2020, we suspended our full-year 2020 financial outlook and our 2016-2021 Financial Framework due to the significant uncertainty associated with the COVID-19 pandemic. We expect to reinstate our financial outlook and long-term financial framework at the appropriate time.

3Q20 Planning Assumptions

Our primary planning assumptions for 3Q20 include:

• Sales to be down 10%-13% year-over-year; and
• Adjusted Gross Margin in the range of 37%-38%, up 300-400 bps sequentially from 2Q20, as inventory reductions are largely complete; we fully expect gross margins to return to normal levels of 40%-42% as production volumes increase with global economic activity.

For earnings history and earnings-related data on W.R. Grace & Co. (GRA) click here.

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