W.R. Grace & Co. (GRA) Tops Q1 EPS by 3c

W.R. Grace & Co. (NYSE: GRA) reported Q1 EPS of $0.71, $0.03 better than the analyst estimate of $0.68. Revenue for the quarter came in at $421.5 million versus the consensus estimate of $425.92 million.

Financial Outlook and 2Q20 Planning Assumptions:

Full-Year 2020 Outlook and 2016-2021 Financial Framework

Given the significant uncertainty associated with the COVID-19 pandemic, including the duration and severity of the global recession, it is prudent to suspend our February 4, 2020 financial outlook, along with our 2016-2021 Financial Framework. We expect to reinstate our financial outlook and long-term financial framework at the appropriate time.

2Q20 Planning Assumptions

We are planning for 2Q20 quarter sales to be down 20-25% year-over-year. We are planning for 2Q20 gross margin to decrease 500-800 bps year-over-year as a result of lower fixed cost absorption (200-300 bps) and reduced inventory levels (300-500 bps). We expect gross margins to recover as demand increases.

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

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