PITTSBURGH (AP) _ PPG Industries Inc. (PPG) on Thursday reported fourth-quarter earnings of $292 million.
The Pittsburgh-based company said it had profit of $1.22 per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to $1.31 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The paint and coatings maker posted revenue of $3.67 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $3.66 billion.
For the year, the company reported profit of $1.24 billion, or $5.22 per share. Revenue was reported as $15.15 billion.
PPG Industries shares have decreased 2% since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 2%. The stock has increased 29% in the last 12 months.