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PPG Industries, Inc. PPG, based in Pennsylvania, has a diversified business and a leading position in several paints and coatings end markets.
PPG Industries’ adjusted earnings were $1.90 per share for the second quarter, up around 6% year over year. It beat the Zacks Consensus Estimate of $1.89.
PPG Industries posted revenues of $4,131 million, up roughly 9% year over year. It also beat the Zacks Consensus Estimate of $4,118 million. Favorable currency swings improved net sales by more than 2%.
PPG Industries, Inc. Price and EPS Surprise
PPG Industries, Inc. Price and EPS Surprise | PPG Industries, Inc. Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for PPG Industries for the second quarter remain stable over the last month. PPG Industries surpassed the Zacks Consensus Estimate in two of the trailing four quarters, missed once and met expectations on the other occasion, delivering an average beat of 0.1%.
Key Stats/Developments to Note
PPG Industries bought back shares totalling nearly $1.1 billion during the first half including around $460 million in the second quarter. The company expects to continue its earnings-accretive cash deployment in the second half of the year. It remains committed to deploy $2.4 billion of cash in 2018 on acquisitions and share repurchases.
PPG Industries currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PPG Industries’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on PPG Industries’ earnings report!
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PPG Industries, Inc. (PPG) : Free Stock Analysis Report
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