Markets :: Specialty Chemicals :: Paints and Coatings
PPG earnings up 33%, beat estimates, as volumes rise
9:27 AM MST | January 16, 2014 | Vincent Valk
PPG today reported fourth-quarter net income from continuing operations up 33% year-on-year (YOY), to $254 million, or $1.78/share, on sales up 14%, to $3.7 billion. Adjusted earnings, which excluded $4 million in acquisition-related costs, totaled $1.81/share, ahead of analysts’ consensus estimate of $1.73/share, as reported by Thomson Reuters (New York). Earnings growth was a result of “our continuing operating and cost discipline are now being coupled with a higher level of organic sales growth,” says PPG chairman and CEO Charles Bunch...
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