PPG beats estimates as price hikes, cost cuts ofset flat volumes

摘要

PPG Industries reports third-quarter net income from continuing operations roughly fat year on year (YOY), at $366 million, or $1.54/share, on sales that were also fat, at $3.8 billion. Adjusted earnings, excluding some restructuring and environmental costs, rose 12% YOY, to $396 million, or $1.67/share, beating analysts’ consensus estimate of $1.61/share, as reported by Refnitiv (New York). Selling prices rose by about 3% YOY, but aggregate volumes were down 3%.