PPG Industries (PPG) Q2 Earnings Beat, Sales Trail Estimates
Zacks Investment Research | Jul 17, 2019 09:17PM ET
PPG Industries Inc. (NYSE:PPG) logged net income from continuing operations of $270 million or $1.13 per share in second-quarter 2019, down around 27% from $371 million or $1.51 per share a year ago.
Barring one-time items, adjusted earnings per share were $1.85, down from $1.90 a year ago. It, however, beat the Zacks Consensus Estimate of $1.83.
Net sales were down around 3% year over year to $4,024 million in the reported quarter. The figure fell shy of the Zacks Consensus Estimate of $4,094.4 million. Unfavorable currency swings affected net sales by more than 3% while acquisition-related sales, net of divestitures, contributed more than 2% to sales growth.
The company gained from strong growth in several of its businesses including aerospace and protective and marine coatings in the quarter.
PPG Industries, Inc. Price, Consensus and EPS Surprise
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