PPG Industries: Q2 Earnings Snapshot
Posted Jul 19, 2021 2:28 pm.
Last Updated Jul 19, 2021 2:30 pm.
PITTSBURGH (AP) _ PPG Industries Inc. (PPG) on Monday reported second-quarter net income of $431 million.
The Pittsburgh-based company said it had profit of $1.80 per share. Earnings, adjusted for non-recurring costs, came to $1.94 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The paint and coatings maker posted revenue of $4.36 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $4.42 billion.
PPG Industries expects full-year earnings in the range of $7.40 to $7.60 per share.
PPG Industries shares have risen 15% since the beginning of the year, while the S&P’s 500 index has risen 13%. In the final minutes of trading on Monday, shares hit $165.75, an increase of 48% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PPG at https://www.zacks.com/ap/PPG
The Associated Press
