PITTSBURGH (AP) _ PPG Industries Inc. (PPG) on Thursday reported second-quarter earnings of $102 million.
The Pittsburgh-based company said it had net income of 43 cents per share. Earnings, adjusted for one-time gains and costs, were 99 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The paint and coatings maker posted revenue of $3.02 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.83 billion.
PPG Industries shares have decreased 14% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $115.26, a drop of 2% in the last 12 months.