PPG Industries, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component PPG Industries, Inc. (NYSE:PPG) will unveil its latest earnings on Thursday, October 20, 2011. PPG Industries makes coatings, glass, and chemical products. .

PPG Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.94 per share, a rise of 22% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.87. Between one and three months ago, the average estimate moved up. It has dropped from $1.95 during the last month. For the year, analysts are projecting profit of $6.90 per share, a rise of 32.7% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 10 cents, reporting net income of $2.12 per share against a mean estimate of profit of $2.02 per share.

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Wall St. Revenue Expectations: On average, analysts predict $3.88 billion in revenue this quarter, a rise of 12.1% from the year ago quarter. Analysts are forecasting total revenue of $14.97 billion for the year, a rise of 11.5% from last year’s revenue of $13.42 billion.

Analyst Ratings: Analysts seem relatively indifferent about PPG Industries with eight of 12 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose 25% to $340 million ($2.12 a share) from $272 million ($1.63 a share) the year earlier, exceeding analyst expectations. Revenue rose 15.3% to $3.99 billion from $3.46 billion.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose more than sevenfold in the first quarter and 44.4% in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 13% in the first quarter from the year earlier, climbed 8.4% in the fourth quarter of the last fiscal year from the year-ago quarter and 7.3% in the third quarter of the last fiscal year.

Competitors to Watch: The Valspar Corporation (NYSE:VAL), RPM International Inc. (NYSE:RPM), Sherwin-Williams Company (NYSE:SHW), E.I. du Pont de Nemours & Co. (NYSE:DD), Akzo Nobel N.V. (AKZOY), Southwall Technologies (SWTXD), Olin Corporation (NYSE:OLN), Corning Incorporated (NYSE:GLW), and FMC Corporation (NYSE:FMC).

Stock Price Performance: During August 18, 2011 to October 14, 2011, the stock price had risen $9.30 (13.2%) from $70.41 to $79.71. The stock price saw one of its best stretches over the last year between December 16, 2010 and December 29, 2010 when shares rose for nine-straight days, rising 3.4% (+$2.70) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine-straight days, falling 9.2% (-$8.20) over that span. Shares are down $2.70 (-3.3%) year to date.

(Source: Xignite Financials)

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