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     140  0 Kommentare Grace Provides COVID-19 Update; Highlights Strong Financial Position and Cash Flow

    • 1Q20 Adjusted EPS1 expected to be at high end of outlook range as of February 4, 2020
    • Ample liquidity, resilient cash flows and strong balance sheet

    COLUMBIA, Md., April 03, 2020 (GLOBE NEWSWIRE) --  W. R. Grace & Co. (NYSE:GRA) today provided an update regarding its preliminary 1Q20 financial results, response to the COVID-19 pandemic, and strong financial position.

    Preliminary 1Q20 Financial Results

    Grace expects 1Q20 Adjusted EPS to be at the high end of its February 4, 2020 outlook range of $0.65 to $0.72 per share, which included an unfavorable impact of $0.06 to $0.10 per share from the effects of the COVID-19 pandemic.

    The significant economic impact of the rapidly evolving pandemic, including lower manufacturing activity and transportation fuel demand, will negatively affect our full-year results and outlook. We are evaluating the effect of the pandemic and the policy responses of governments on our financial results for the remainder of the year and will provide an update on our first quarter earnings conference call scheduled for April 30.

    “Grace is well positioned to meet the operating and financial challenges of the global pandemic,” said Hudson La Force, Grace’s President and Chief Executive Officer. “Our first priority is the health and safety of our employees. We have fully implemented our pandemic response plan, including significant new safety protocols throughout our operations. We are also focused on business continuity for our customers. Our manufacturing operations and global supply chain have not been materially impacted at this point. Our businesses are designated as critical infrastructure by the U.S. Department of Homeland Security. Our global manufacturing footprint, strategic flexibility and strong business continuity plans position us to remain a reliable technology supplier to our customers.”

    Strong Financial Position and Focus on Cash Generation

    Grace’s balance sheet and cash position remain strong, with ample liquidity and resilient cash flows. We have disciplined approaches to cash flow generation and capital allocation and made cash flow our principle operating and financial metric in March when COVID-19 became a global pandemic.

    “In today’s highly uncertain macro environment, we are reducing capital spending, working capital, and operating costs to ensure we continue to generate strong free cash flow,” continued La Force. “We are adjusting our manufacturing operations to match lower near-term demand.”

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    Grace Provides COVID-19 Update; Highlights Strong Financial Position and Cash Flow 1Q20 Adjusted EPS1 expected to be at high end of outlook range as of February 4, 2020Ample liquidity, resilient cash flows and strong balance sheet COLUMBIA, Md., April 03, 2020 (GLOBE NEWSWIRE) -  W. R. Grace & Co. (NYSE:GRA) today provided an …