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PPG’s Earnings Rise 12%; Sherwin-William’s Profits Fall 15%

10:05 AM MDT | July 22, 2008 | Chemical Week Editorial Staff

PPG Industries reported second-quarter net income up 12%, to $269 million ($1.62/share), excluding $6 million in operating results from the automotive glass and services (AG&S) business that is pending sale and $13 million in charges related to the sale of the AG&S business and asbestos settlements. The consensus of analysts’ estimates as reported by First Call (Boston) was for $1.54/share. Sales jumped 42%, to $4.5 billion. PPG says its purchase earlier this year of SigmaKalon helped to boost results. Combined segment earnings from the coatings and...

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