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GCP Applied Tech: 1Q Earnings Snapshot

CAMBRIDGE, Mass. (AP) _ GCP Applied Technologies Inc. (GCP) on Wednesday reported first-quarter net income of $21.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of 29 cents. Earnings, adjusted for non-recurring gains, were 7 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The specialty construction chemicals maker posted revenue of $226.1 million in the period.

GCP Applied Tech expects full-year earnings in the range of $1.03 to $1.14 per share.

GCP Applied Tech shares have risen 15% since the beginning of the year. The stock has dropped almost 2% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GCP at https://www.zacks.com/ap/GCP