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Last $97.70 USD
Change Today +0.21 / 0.22%
Volume 396.6K
GRA On Other Exchanges
Symbol
Exchange
New York
As of 6:40 PM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

wr grace & co (GRA) Key Developments

W.R. Grace & Co. Seeks Acquisition

The construction-chemical business of W.R. Grace & Co. (NYSE:GRA) will likely acquire other companies once it is spun off 2017. Chief Executive Officer Fred Festa stated that the company would be willing to make an acquisition similar to its $500 million 2013 acquisition of Dow Chemical Co.'s UNIPOL polypropylene licensing and catalysts business. He said: "Listen, we'd love to do another one of those if we could find one. It's been a good deal for us."

W. R. Grace & Co to Invest About USD 135 Million in the Construction of Residue Hydroprocessing Catalyst Plant

W. R. Grace & Co announced that it will invest about USD 135 million in the construction of a residue hydroprocessing catalyst plant and additional alumina capacity at its existing manufacturing facility in Lake Charles, LA. This construction project is being initiated by the company's joint venture with Chevron Products Company, called Advanced Refining Technologies (ART). Construction is expected to begin in late 2015 with completion anticipated in 2018.

W.R. Grace & Co. Presents at Goldman Sachs Basic Materials Conference 2015, May-19-2015 02:20 PM

W.R. Grace & Co. Presents at Goldman Sachs Basic Materials Conference 2015, May-19-2015 02:20 PM. Venue: Goldman Sachs Conference Center, 200 West Street, New York, New York, United States. Speakers: Alfred E. Festa, Chairman and Chief Executive Officer.

W.R. Grace & Co. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Affirms Earnings Guidance for 2015

W.R. Grace & Co. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $720.6 million compared with $744.5 million for the same period last year. Income before income taxes was $81.5 million compared with $80.1 million for the same period last year. Net income attributable to W. R. Grace & Co. shareholders was $52.7 million or $0.72 diluted per share compared with $50.1 million $0.64 diluted per share for the same period last year. Adjusted EBIT was $117.0 million or $0.82 per share compared with $111.3 million $0.77 per share for the same period last year. Net cash used by operating activities was $373.6 million compared to $1,253.3 million for the same period last year. Capital expenditures were $40.7 million compared with $40.1 million for the same period last year. Adjusted free cash flow was $87.4 million compared with $66.4 million for the same period last year. Free Cash Flow was negative of $414.3 million compared with $1,293.4 million for the same period last year. The company affirms its outlook for 2015 adjusted EBIT in the range of $675 million to $705 million on a constant currency basis, an increase of 8% to 13% compared with 2014. The company expects 2015 adjusted EBITDA to be in the range of $815 million to $845 million on a constant currency basis, an increase of 7% to 11% compared with 2014. The company expects adjusted EPS to be in the range of $5.05 to $5.45 per share on a constant currency basis, an increase of 14% to 23% over 2014. Using current exchange rates, including the euro at $1.07, the company expects a currency headwind to adjusted EBIT of approximately $60 million and to Adjusted EPS of approximately $0.55 per share. The company continues to expect 2015 adjusted free cash flow to be at least $430 million, including a favorable impact to 2015 cash flow of approximately $120 million, equivalent to $1.65 per share, due to Grace's low cash tax rate compared with its expected effective tax rate.

W.R. Grace Seeks Acquisitions

Fred Festa, Chairman and Chief Executive Officer W.R. Grace & Co. (NYSE:GRA) responded to the query regarding outlook for acquisitions and inclination to do deals by saying, "I don't think it's changed our outlook. We've done them around the globe as well. And we continue to be inquisitive on that side of it, and we will if those good opportunities come up. We're going through the spin-out now, so a number of resources are dedicated to that, but not to the effect that we find something good, we would buy -- we would buy that."

 

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GRA

Industry Average

Valuation GRA Industry Range
Price/Earnings 26.5x
Price/Sales 2.2x
Price/Book 19.7x
Price/Cash Flow 25.7x
TEV/Sales 1.4x
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