PPG Industries Inc. has reported an increase in the first quarter earnings in comparison to the same timeframe last year, meeting Wall Street's predictions. This quarter saw the company's net income hitting $400 million, which equates to $1.69 per share, an increase from $264 million, or $1.11 per share, seen in the previous year's first quarter.
When discounting for certain factors, PPG Industries Inc. posted adjusted earnings of $441 million, or $1.86 per share, for the period. This aligns with the average analyst expectation of the company earning $1.86 per share, as reported by Thomson Reuters, though the estimations usually don't account for special items.
However, the company's revenue experienced a slight drop of 1.6%, dwindling to $4.31 billion from $4.38 billion last year.
In absolute terms, the general accepted accounting principles (GAAP) figures for PPG Industries' first quarter earnings are as follows:
- Earnings (Q1): $400 million vs. $264 million last year.
- Earnings Per Share (Q1): $1.69 vs. $1.11 last year.
- Revenue (Q1): $4.31 billion vs. $4.38 billion last year.
Looking ahead, the company guides that expected earnings per share for the next quarter might lie between $2.42 and $2.52, while the whole year's EPS forecast is predicted to range between $8.34 and $8.59.
