U.S. Markets closed

PPG Industries (PPG) Q2 Earnings, Sales Beat Estimates

Zacks Equity Research
1 / 2

Should iShares Morningstar Mid-Cap Value ETF (JKI) Be on Your Investing Radar?

Style Box ETF report for JKI

PPG Industries, Inc. PPG, based in Pennsylvania, has a diversified business and a leading position in several paints and coatings end markets.

Earnings

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.

Revenues

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.

Zacks Rank

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.

Market Reaction

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!

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>
 


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
PPG Industries, Inc. (PPG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research