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Grace profits fall 15% on weather-related impacts

12:46 PM MDT | April 23, 2014 | Rebecca Coons

W.R. Grace says extreme weather during the first quarter that negatively impacted North American construction activity and caused manufacturing closures at a Maryland refinery catalysts production site contributed to a year-on-year (YOY) drop in profits. The company reports net income of $50.1 million for its fiscal first quarter, down 15.2% YOY. Adjusted income dropped 15.4% YOY, to 77 cts/share, but beat a 74 cts/share consensus of analysts’ estimates compiled by Thomson Reuters (New York). Sales increased 4.9%, to $745 million, on acquisitions and higher...

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