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PPG earnings rise on improving coatings demand

9:45 AM MDT | October 17, 2013 | Vincent Valk

PPG Industries has reported third-quarter net income of $220 million, or $1.52/share, down 24% year-on-year (YOY), on sales up 17%, to $4 billion. Excluding charges, which were primarily related to restructuring and a legacy environmental reserve, adjusted net income from continuing operations to totaled $353 million, or $2.44/share, up 18% and ahead of analysts’ consensus of estimate of $2.34/share, as reported by Thomson Reuters (New York). “Aerospace and automotive [original equipment manufacturing] coatings remained PPG’s most consistent...

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