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Grace's Income Surges Past Estimates
11:02 AM MDT | July 26, 2011 | Rebecca Coons
W.R. Grace reported net income of $76 million in its fiscal second quarter ended June 30, 49% higher than the same year-ago period, on gains in pricing and emerging markets. Earnings of $1.11/share easily beat analysts’ estimates of 89 cts/share, as reported by Thomson Reuters (New York). Sales increased 20%, to $826 million. Grace Davison, Grace’s specialty catalysts and materials business, posted operating income 37%, higher, to $107 million. Sales rose 25% to $587 million, reflecting a 50% jump in sales to the refining industry. The company...
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