PPG Industries Inc. (PPG) has released its financial results for the third quarter, showing an increase in earnings compared to the previous year, although falling short of analysts' expectations.
The company reported a net income of $468 million, or $2.00 per share, for the quarter. This represents a rise from the $426 million, or $1.79 per share, reported in the same period last year.
When excluding certain items, PPG Industries Inc. posted adjusted earnings of $500 million, equating to $2.13 per share for the quarter.
Analysts, as surveyed by Thomson Reuters, had projected earnings of $2.15 per share, typically excluding extraordinary items, thus the reported figures did not meet these forecasts.
Revenue for PPG Industries Inc. decreased by 1.5% to $4.575 billion, down from $4.644 billion in the previous year's third quarter.
Below is a summary of PPG Industries Inc.’s financial performance under Generally Accepted Accounting Principles (GAAP) for the third quarter:
- Earnings: $468 million, compared to $426 million in the previous year
- Earnings per Share (EPS): $2.00, up from $1.79 last year
- Revenue: $4.575 billion, a decline from last year's $4.644 billion
**Outlook:** The company’s full-year earnings per share (EPS) forecast is in the range of $8.15 to $8.30.
