PPG’s Earnings Miss; But Diversified Chemical Firms Expected to Come Out on Top

PPG Industries reported fourth-quarter earnings up 12%, to $160 million (96 cts/share), excluding charges of $3 million (2 cts/share). The consensus of analysts’ estimates was for $1.02/share as reported by First Call Boston (New York). Sales rose 11%, to $2.8 billion. PPG says earnings were hurt by downturns in the automotive and housing markets. PPG also says it will continue to “aggressively explore all alternatives” for its underperforming businesses. Bunch: Housing, auto slump hurt earnings. Merrill Lynch (New York) says it expects PPG to...

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