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Grace reports first-quarter earnings down 13%

8:42 AM MDT | April 24, 2013 | Rebecca Coons

Delayed catalyst orders and downtime at customer operations drove W.R. Grace’s first-quarter results below expectations. The company reported net income of $52.9 million for the quarter ended 31 March, 13.1% lower than the year-ago quarter. Adjusted earnings fell 8.0%, to 81 cts/share, but narrowly beat an 80 cts/share consensus of analysts’ estimates compiled by Thomson Reuters (New York). Several analysts cut their estimate for Grace’s first quarter after the company reported preliminary results of $52-$53 million and cut its full-year outlook...

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