GCP - GCP STOCK NEWS

GCP Applied Technologies Inc. (NYSE: GCP) announced its first quarter 2022 results, reporting net sales of $237.3 million, a 6.5% increase year-over-year. However, the company faced a $3.7 million loss from continuing operations, a stark contrast to the $1.5 million income in Q1 2021. Adjusted EBITDA dropped 29.1% to $20.0 million, and adjusted EPS also fell 66.7% to $0.04. The gross margin declined by 800 basis points to 30.8% as rising raw material costs and supply chain disruptions took a toll, leading to price increases across all regions.

GCP Applied Technologies has announced that its sustainable solutions have successfully reduced CO₂ emissions by approximately 23 million tons in 2021, equivalent to removing seven million cars from the road daily. The company is addressing over 60% of the sustainability actions outlined by the Global Cement and Concrete Association to achieve carbon-neutral concrete by 2050. GCP’s products are designed to cut costs while minimizing environmental impact, with an aim to help the cement industry reduce 500 million tons of CO₂ yearly.

GCP Applied Technologies reported a slight increase in Q4 2021 net sales to $244.3 million, up 0.7% year-over-year, while full-year sales rose 7.4% to $970.1 million. However, GCP faced a 30.9% decline in adjusted EBIT and a 20.5% drop in adjusted EBITDA for Q4. The company reported income from continuing operations of $1.8 million compared to a loss of $0.8 million a year ago. A merger with Saint-Gobain for $32.00 per share is underway, contingent on shareholder and regulatory approvals.

GCP Applied Technologies Inc. (NYSE: GCP) announces the appointment of Kate Anderson as Vice President, Commercial for North America within its Specialty Construction Chemicals division. With over 20 years of experience, mostly at Kimberly-Clark, Anderson is expected to enhance customer satisfaction and innovation. David H. Campos, President of the division, expressed enthusiasm about her joining the leadership team, emphasizing her expertise in building customer partnerships.

GCP Applied Technologies has announced a definitive agreement for Saint-Gobain to acquire all outstanding shares at $32.00 per share, valuing the transaction at approximately $2.3 billion. This price reflects a 39% premium over the 30-day average share price as of November 30, 2021. The deal has been unanimously approved by both companies' Boards of Directors, and significant stakeholders have committed to support the transaction. Closing is contingent upon shareholder and regulatory approvals, expected in the second half of 2022.

GCP Applied Technologies Inc. (NYSE: GCP) announced a price increase of up to 10% for all concrete admixture and fiber products in North America, effective January 1, 2022. This decision is driven by significant increases in raw material and freight costs, which are anticipated to continue. President David H. Campos emphasized the company’s commitment to customer success and sustainable construction practices. GCP is also enhancing inventory and freight capacity to maintain service quality.

GCP Applied Technologies reported third-quarter 2021 results, showcasing net sales of $249.6 million, a slight 0.5% increase year-over-year. However, income from continuing operations plummeted to $7.8 million from $100.0 million in Q3 2020, reflecting a 92.2% decline. Adjusted EPS was $0.19, down 38.7%. The company faced significant headwinds from cost inflation and supply chain disruptions, particularly in the Specialty Construction Chemicals segment. Despite a decrease in SG&A expenses, gross margins dipped to 33.9%, down from 41.0%.

GCP Applied Technologies Inc. (NYSE:GCP) will release its third quarter 2021 financial results on November 3, 2021, at 6:00 a.m. ET. President and CEO Simon Bates, along with CFO Craig Merrill, will discuss the results during a conference call at 10:00 a.m. ET that same day. Investors can access the live call via the company's website or by phone. A replay will be available until November 10, 2021. GCP provides innovative construction products, including cement additives and high-performance waterproofing technologies.

GCP Applied Technologies reported strong Q2 2021 results with net sales reaching $253.4 million, up 29.7% year-over-year. Income from continuing operations improved to $10.4 million, compared to a loss last year. Adjusted EBIT rose 92.1% to $26.9 million, with a margin increase of 340 basis points. The Specialty Building Materials segment surged 36.9%, while Specialty Construction Chemicals rose 24.8%. However, gross margin contracted to 36.7% due to rising raw material costs, with forecasts indicating margin compression ahead.