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PPG's Quarterly Profits Rise on Higher Selling Prices and Volumes
7:51 AM MST | January 20, 2011 | Kerri Walsh
PPG’s fourth-quarter earnings soared 44%, to $205 million ($1.24/share) including a $2-million asbestos-related charge. Sales rose 8%, to $3.4 billion. Higher selling prices and improved volumes in most businesses partially offset rising raw material costs. Earnings rose in all business segments except industrial coatings and architectural coatings EMEA. Performance coatings operating income rose 14%, to $170 million, on sales up 7%, to $1.1 billion because of higher selling prices and improved volumes across all regions. The aerospace and...
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