PPG Industries Inc. (PPG) reported a significant decline in its fourth-quarter earnings compared to the previous year. The company's net income amounted to $2 million, translating to an earnings per share (EPS) of $0.01. This is a substantial decrease from the prior year's net income of $103 million and an EPS of $0.43.
When adjusted for certain items, PPG Industries Inc. posted earnings of $375 million, or $1.61 per share, for this quarter.
The company also experienced a downturn in revenue, which dropped by 4.7% to $3.729 billion from $3.912 billion in the corresponding period last year.
In summary, PPG Industries Inc.'s earnings according to Generally Accepted Accounting Principles (GAAP) are as follows:
- Net income: $2 million compared to $103 million the previous year.
- Earnings per share: $0.01 versus $0.43 last year.
- Revenue: $3.729 billion compared to $3.912 billion last year.
