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W.R. Grace profits fall 8%

9:27 AM MDT | October 23, 2013 | Rebecca Coons

W.R. Grace reports lower third-quarter results, since double-digit growth for engineered materials and construction products were not enough to offset weak demand for catalysts. The company reports net income of $69.4 million (89 cts/share) for the quarter ended 30 September, 8.0% lower than the year-ago quarter, on sales down 0.7%, to $771.3 million. Adjusted earnings increased 2.8% year-on-year (YOY), to $1.07/share, and beat analysts’ estimates by 7 cts/share, according to a consensus estimate by Thomson Reuters (New York). Grace’s catalysts and...

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