PPG Industries Earnings: Everything You Must Know Now
PPG Industries Inc. (NYSE:PPG) delivered a profit and beat 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.
PPG Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.81% to $2.45 in the quarter versus EPS of $2.36 in the year-earlier quarter.
Revenue: Rose 3.54% to $4.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: PPG Industries Inc. reported adjusted EPS income of $2.45 per share. By that measure, the company beat the mean analyst estimate of $2.35. It beat the average revenue estimate of $4.09 billion.
Quoting Management: “We achieved new sales and adjusted earnings records due to the continued strong performance of our coatings businesses, which in aggregate delivered 25 percent earnings growth in comparison to last year’s record level,” said Charles E. Bunch, PPG chairman and CEO. “The record adjusted earnings results were driven by our strong operating focus, including ongoing aggressive cost management, and the earnings benefit from cash deployed on recent coatings acquisitions.”
Key Stats (on next page)…
Revenue increased 22.94% from $3.33 billion in the previous quarter. EPS increased 55.06% from $1.58 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $2.31 to a profit $2.30. For the current year, the average estimate has moved up from a profit of $7.81 to a profit of $7.90 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)