Unlimited Access. Try it Today! Your First 10 Days Always $0.99

W.R. Grace reports nearly 49% earnings increase in 2Q

Chemical maker W.R. Grace & Co. reported a 48.6 percent quarterly earnings increase as it benefited from its expansion into emerging markets.

Net income for the second quarter, which ended June 30, was $75.8 million, or $1 per share, compared to $51 million, or 69 cents per share, the previous year.

Sales increased 20.6 percent to $826.4 million from $685 million.

"I am pleased with how well the Grace team is executing in today's dynamic operating environment," Grace CEO Fred Festa said in a statement. "The investments we have made are making a significant difference to our results, giving us the confidence to increase our outlook for 2011."

The company also said the company's Chapter 11 bankruptcy proceedings are still pending in court.

Grace raised its sales outlook for the year. It expects sales of $3.25 billion to $3.30 billion. In February it had expected sales of $2.85 billion to $2.95 billion.



  • Text BUSINESS to 70701 to get Baltimore Sun Business text alerts
  • Copyright © 2015, The Baltimore Sun
    Related Content
    • 3-D printed car factory planned at National Harbor
      3-D printed car factory planned at National Harbor

      The folks building National Harbor on the Potomac River figure it's a fine place to shop, work, eat out, gamble, stay a few nights, ride a Ferris wheel, and — manufacture cars.

    • Baltimore People on the Move archive
      Baltimore People on the Move archive

      Readers submit photos and information on employees who have recently been promoted, hired or honored at area businesses. Select photos will be published in the Maryland Business section of Tuesday editions of The Baltimore Sun. Caption size is limited and only photos are accepted in this...