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PPG beats estimates on steady sales

April 18, 2013 | Vincent Valk

PPG has reported first-quarter adjusted net income of $235 million, or $1.58/share, on sales that were flat, at $3.33 billion. Adjusted net income rose 8.8% from the year-ago quarter and beat analysts’ consensus of $1.50/share, as reported by Thomson Reuters (New York). Actual net income totaled $2.41 billion, mostly because of proceeds from the spin-off of PPG’s commodity chemicals business to Georgia Gulf.   “During the quarter, we delivered strong performance in our coatings portfolio, as we grew aggregate coatings segment earnings by...

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