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PPG earnings beat estimates on higher volumes

9:31 AM MDT | April 17, 2014 | Vincent Valk

PPG today reported net income from continuing operations up 45% year-on-year (YOY), to $277 million, on sales from continuing operations up 17%, to $3.6 billion. Adjusted earnings, excluding a small restructuring charge, totaled $1.98/share, beating analysts’ consensus estimate of $1.87/share, as reported by Thomson Reuters (New York). Net income from continuing operations did not include $946 million in net proceeds from the sale of PPG’s stake in the transitions optical joint venture, which closed during the quarter. “The difference between...

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