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PPG earnings rise on strong industrial coatings results

10:58 AM MDT | July 22, 2013 | Vincent Valk

PPG today reported second-quarter net income up 14.8% year-on-year (YOY), to $341 million, on sales up 16%, to $4.1 billion. Adjusted earnings—which exclude acquisition charges—totaled $356 million, or $2.45/share, ahead of analysts’ consensus estimate of $2.35/share, as reported by Thomson Reuters (New York). The acquisition charges were related to the acquisition of AkzoNobel’s North American architectural coatings business, which closed on 1 April. “We achieved new sales and adjusted earnings records due to the continued strong...

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