PPG Meets Earnings Estimates

PPG Industries reported net income more than doubled, to $191 million ($1.15/share), on sales up 13%, to $2.8 billion. Earnings include $37 million in charges related to acquisition costs, divestments costs associated with the pending sales of the automotive glass and fine chemicals business, and asbestos-related settlements. Net income in the year-ago quarter included $131 million in charges, and a $7-million gain. Earnings were $1.37/share excluding charges, in line with the consensus of analysts’ estimates as reported by First Call (Boston). PPG’s...

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