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PPG Industries Inc. (NYSE:PPG) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are relatively flat.
PPG Industries Inc. Earnings Cheat Sheet
Results: Net income increased 10.19% to $238 million ($1.53 per diluted share) in the quarter versus a net gain of $216 million in the year-earlier quarter.
Revenue: Rose 2.36% to $3.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: PPG Industries Inc. reported adjusted net income of $1.53 per share. By that measure, the company met the mean analyst estimate of $1.53. It beat the average revenue estimate of $3.59 billion.
Quoting Management: ”Our coatings businesses continued to perform well, growing earnings by 30 percent versus last year’s fourth quarter, and the Optical and Specialty Materials segment delivered similar earnings growth. Commodity Chemicals segment earnings strengthened…
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