July 25, 2012 / 10:58 AM / 5 years ago

UPDATE 1-W.R. Grace profit beats estimates on higher pricing

* Q2 adj EPS $1.14 vs est $1.11/shr

* Q2 rev flat at $826.7 mln (Adds details, compares results with analysts’ estimates)

July 25 (Reuters) - Chemical maker W.R. Grace & Co reported a better-than-expected quarterly profit as it raised prices to offset higher raw materials and manufacturing costs.

Sales from emerging markets, which contribute more than a third of W.R. Grace’s total sales, grew 13 percent in the second quarter, the company said.

Revenue at its construction products business rose 6 percent for April-June, propelled by strong sales in Asia, Latin America and the Middle East.

Revenue at its biggest business, which includes specialty catalysts and additives used in refinery and plastics industries, fell 2 percent.

Total revenue remained almost flat at $826.7 million.

Net income fell 9 percent to $69.3 million, or 90 cents per share.

Excluding items, the company earned $1.14 a share.

Analysts on average had expected the company to earn $1.11 cents per share on revenue of $816.2 million, according to Thomson Reuters I/B/E/S.

The Columbia, Maryland-based company’s shares, which have gained about 67 percent of its value in the last nine months, closed at $50.50 on Tuesday on the New York Stock Exchange. (Reporting by Sunayan Bhattacharjee in Bangalore; Editing by Don Sebastian)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below