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W.R. Grace & Co. (GRA)

Built on talent, technology, and trust, Grace is a leading global specialty chemical company. The company's two industry-leading business segments-Catalysts Technologies and Materials Technologies-provide innovative products, technologies, and services that enhance the products and processes of its customers around the world. With approximately 4,000 employees, Grace operates and/or sells to customers in over 60 countries.

Company profile

Ticker
GRA
Exchange
Website
CEO
Andrew La Force
Employees
Incorporated
Location
Fiscal year end
Former names
GRACE SPECIALTY CHEMICALS INC
SEC CIK
Subsidiaries
W. R. GRACE & CO. • Alltech Associates, Inc. • Gloucester New Communities Company, Inc. • Grace Chemical Company • Grace Collections, Inc. • Grace Energy Corporation • Grace Management Services, Inc. • Grace PAR Corporation • Grace Technologies, Inc. • Guanica-Caribe Land Development Corporation ...
IRS number
650773649

GRA stock data

Calendar

2 Aug 21
12 Aug 22
31 Dec 22
Quarter (USD) Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 312.7M 312.7M 312.7M 312.7M 312.7M 312.7M
Cash burn (monthly) (no burn) 57.09M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 767.93M n/a n/a n/a n/a
Cash remaining n/a -455.23M n/a n/a n/a n/a
Runway (months of cash) n/a -8.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Sep 21 40 North Latitude Fund Common Stock, $0.01 par value Other Dispose J Yes No 70 9,865,008 690.55M 0
22 Sep 21 Cummings Robert F JR Common Stock, par value $0.01 per share Sale back to company Dispose D Yes No 0 2,000 0 0
22 Sep 21 Cummings Robert F JR Common Stock, par value $0.01 per share Sale back to company Dispose D No No 0 18,823 0 0
22 Sep 21 Julie Fasone Holder Common Stock, par value $0.01 per share Sale back to company Dispose D No No 0 8,474 0 0
22 Sep 21 Slack Henry R Common Stock, par value $0.01 per share Sale back to company Dispose D No No 0 5,495 0 0
22 Sep 21 Steffen Christopher J Common Stock, par value $0.01 per share Sale back to company Dispose D No No 0 25,887 0 0
13F holders Current Prev Q Change
Total holders 0 6 EXIT
Opened positions 0 1 EXIT
Closed positions 6 231 -97.4%
Increased positions 0 1 EXIT
Reduced positions 0 1 EXIT
13F shares Current Prev Q Change
Total value 0 123.41M EXIT
Total shares 0 34.57K EXIT
Total puts 0 0
Total calls 0 231 EXIT
Total put/call ratio
Largest owners Shares Value Change

Financial report summary

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Competition
Albemarle
Risks
  • The global COVID-19 pandemic has had a significant negative effect on certain industries into which we supply products and services, and on our financial results. The pandemic is expected to continue to negatively impact our operations and businesses until successfully controlled.
  • The global scope of our operations subjects us to the risks of doing business in foreign countries, which could adversely affect our business, financial condition and results of operations.
  • As we operate worldwide in a competitive environment, global economic and financial market conditions may adversely affect our business, financial condition and results of operations.
  • We are exposed to currency exchange rate changes that impact our profitability.
  • Prices for certain raw materials and energy are volatile and can have a significant effect on our manufacturing and supply chain strategies as we seek to maximize our profitability. If we are unable to successfully adjust our strategies in response to volatile raw materials and energy prices, such volatility could have a negative effect on our earnings in future periods.
  • A substantial portion of our raw materials are commodities whose prices fluctuate as market supply and demand fundamentals change.
  • If we are not able to continue our technological innovation and successful introduction of new products, our customers may turn to other suppliers to meet their requirements.
  • We may be subject to claims of infringement of the intellectual property rights of others, which could hurt our business.
  • Some of our employees are unionized, represented by works councils or employed subject to local laws that are less favorable to employers than the laws in the United States.
  • We intend to pursue acquisitions, joint ventures and other transactions that complement or expand our businesses. We may not be able to complete proposed transactions and even if completed, the transactions may involve a number of risks that may materially and adversely affect our business, financial condition and results of operations.
  • We spend large amounts of money for environmental compliance in connection with our current and former operations.
  • Evolving energy consumption patterns; investor sentiment regarding fossil fuels and related matters; and risks related to climate change, may negatively affect our business, financial condition, and results of operations, and our stock price.
  • We work with dangerous materials that can injure our employees, damage our facilities, disrupt our operations, and contaminate the environment.
  • We are subject to business continuity risks that may adversely affect our business, financial condition and results of operations.
  • A failure of our information technology (“IT”) infrastructure could adversely impact our business and operations.
  • Our ability to operate our businesses and our financial condition could be significantly undermined by cybersecurity breaches.
  • Risks Related to Legacy Matters
  • We are subject to liabilities for Legacy Matters, which include (i) product, (ii) environmental, and (iii) other liabilities, relating to past activities of Grace.
  • We are subject to environmental clean-up costs, fines, penalties and damage claims that have been and continue to be costly.
  • We may be required to make one or more contingent deferred payments to the trust for asbestos property damage claims, which we refer to as the “PD Trust,” in respect of claims related to our former Zonolite attic insulation (“ZAI”) product (“ZAI PD Claims”); we may also be obligated to make additional payments to the PD Trust in respect of “Other PD Claims” (those being asbestos property damage claims other than ZAI PD Claims); and our obligations to make payments to the PD Trust in respect of Other PD Claims is not capped.
  • Risks Related to Financial Matters
  • Our indebtedness may materially affect our business, including our ability to fulfill our obligations, react to changes in our business and incur additional debt to fund future needs.
  • Restrictions imposed by agreements governing our indebtedness may limit our ability to operate our business, finance our future operations or capital needs, or engage in other business activities. If we fail to comply with certain restrictions under these agreements, our debt could be accelerated, and we may not have sufficient cash to pay our accelerated debt.
  • Our indebtedness exposes us to interest expense increases if interest rates increase.
  • The uncertainty regarding the potential phase-out of LIBOR may negatively impact our operating results.
  • We have unfunded and underfunded pension plan liabilities. We will require future operating cash flow to fund these liabilities. We have no assurance that we will generate sufficient cash to satisfy these obligations.
  • Our ability to use tax credits and / or net operating losses to reduce future tax payments may be limited if there is a change in ownership of Grace or if Grace does not generate sufficient taxable income or foreign source income for U.S. tax purposes. Our ability to use these attributes is also subject to time limitations. Changes in tax laws and regulations may reduce their value and availability.
  • Our business and stock price could be negatively impacted as a result of actions by activist shareholders or others.
Management Discussion
  • ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • We generally refer to the quarter ended June 30, 2021, as the “second quarter,” the quarter ended June 30, 2020, as the “prior-year quarter,” the quarter ended March 31, 2021, as the “2021 first quarter,” the six months ended June 30, 2021, as the “six months,” and the six months ended June 30, 2020, as the “prior-year period.” Our references to “advanced economies” and “emerging regions” refer to classifications established by the International Monetary Fund. See Analysis of Operations for a discussion of our non-GAAP performance measures.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: adequate, affirmative, agent, al, Alex, allege, America, analytical, annum, Ansay, borrowed, Borrower, California, Carlisle, Central, chromatographic, Ciccotelli, complementary, consecutive, constitute, consummate, consummated, disposition, drug, Eastern, enjoin, estate, eurocurrency, FCS, Finger, formulation, Goldman, grant, granted, hereinafter, incomplete, invalidity, iv, Kathleen, leverage, lien, merit, misleading, observe, Pennsylvania, Peter, pharmaceutical, preliminarily, proxy, purportedly, ratio, representation, rescind, rescissory, Sam, Shiva, Southern, Stein, tangible, USA, vi, vii, violated, York
Removed: decreased, extend, residue, transferred, transform

Patents

Utility
Wireless Voltage Measurement, Testing and Analytics System
11 Aug 22
In order to mitigate a shock hazard for a user analyzing a high-voltage circuit, a system is provided that facilitates quarantining a shock-hazard high voltage within an electrical panel while providing a safe low voltage to a voltage detection indication device for visual inspection, the system comprising; a voltage conversion module (VCM) that receives input voltage from one or more monitored high voltage lines and reduces the received input voltage to below a predetermined voltage level that does not pose a shock hazard to a user; a voltage detection indication module that receives the reduced voltage and provides a visible voltage indication to the user; and a removable data transmission cable the connects the VCM to the voltage detection indication module.
Utility
Voltage Indicator
9 Jun 22
An electrical safety monitoring device includes a first set of digital switches and a second set of digital switches for each of a plurality of line inputs, a first set of visual indicators, wherein each of the first set of visual indicators is electrically connected to one of the first set of digital switches and a second set of visual indicators, wherein each of the second set of visual indicators is electrically connected to one of the second set of digital switches.
Utility
Smart Wireless Communication Device
12 May 22
According to various features described herein, a wireless connection device facilitates providing wireless transmission of detected voltages on monitored lines, and comprises: a communication connector via which the wireless communication device receives detected voltage information for one or more monitored lines; and one or more printed circuit boards (PCB)s comprising circuitry for processing the received detected voltage information; and a wireless transceiver that transmits the processed voltage information wirelessly for presentation and storage on a remote device.
Utility
Compact Test Point Device
21 Apr 22
In order to provide an environmentally secured voltage testing interface, an electrical enclosure box comprising a front panel is herein-described, into which is mounted a voltage indicator comprising a plurality of LED indicators that indicate a status of one or more circuits coupled thereto and monitored thereby.
Utility
Test Point Device
24 Mar 22
In order to provide an environmentally secured voltage testing interface, an electrical enclosure box comprising a front panel is herein-described, into which is mounted a voltage indicator comprising a plurality of LED indicators that indicate a status of one or more circuits coupled thereto and monitored thereby.