GCP Applied Tech: 2Q Earnings Snapshot
CAMBRIDGE, Mass. (AP) _ GCP Applied Technologies Inc. (GCP) on Tuesday reported a loss of $27.9 million in its second quarter.
The Cambridge, Massachusetts-based company said it had a loss of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 27 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The specialty construction chemicals maker posted revenue of $302.8 million in the period.
GCP Applied Tech expects full-year earnings in the range of 92 cents to $1.06 per share.
GCP Applied Tech shares have dropped 13 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.85, a drop of roughly 9 percent in the last 12 months.