PPG Industries Earnings: Here’s Why the Stock is Up Now
PPG Industries Inc. (NYSE:PPG) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.44%.
PPG Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.71% to $1.58 in the quarter versus EPS of $1.81 in the year-earlier quarter.
Revenue: Decreased 11.22% to $3.33 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: PPG Industries Inc. reported adjusted EPS income of $1.58 per share. By that measure, the company beat the mean analyst estimate of $1.54. It missed the average revenue estimate of $3.44 billion.
Quoting Management: During the quarter, we delivered strong performance in our coatings portfolio, as we grew aggregate coatings segment earnings by 13 percent versus last years record level, said Charles E. Bunch, PPG chairman and CEO.
Key Stats (on next page)…