Chemical Week Magazine :: Business & Finance :: United States/Americas
PPG’s Second-Quarter Earnings Slip; Cytec’s Results Beat Estimates
2:53 PM MDT | July 25, 2007 | Kerri Walsh
The second-quarter earnings season is off to a mixed start. Demand was mostly up during the quarter in all regions but North America, producers say. PPG Industries reported earnings down 6%, to $255 million ($1.53/share), excluding a $6 million asbestos-related charge, and gains and charges in the year-ago period. Earnings were in line with First Call consensus estimates (Boston). Sales rose 12%, to $3.2 billion. Acquisitions helped to lift results in PPG’s coatings business, and improved volumes led earnings growth in the optical and specialty materials...
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