PPG Industries (PPG) Q4 Earnings & Sales Beat Estimates
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 $1.19 per share for the fourth quarter. It beat the Zacks Consensus Estimate of $1.18.
Revenues
PPG Industries posted fourth-quarter revenues of $3,682 million, up 7.8% year over year. It surpassed the Zacks Consensus Estimate of $3,605 million. Favorable currency swings improved net sales by more than 3%.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for PPG Industries for the fourth quarter has been going down over the last month. PPG Industries has beaten the Zacks Consensus Estimate in three of the trailing four quarters with an average beat of 1.3%.
Key Stats/Developments to Note
PPG Industries anticipates additional selling price increases this year. The company is committed to deploy at least $2.4 billion of cash in 2018 on acquisitions and share repurchases as part of its earlier communicated goal to deploy $3.5 billion in 2017 and 2018 combined. The company expects its effective tax rate to be in the range of 23-24% for 2018.
PPG Industries, Inc. Price, Consensus and EPS Surprise
PPG Industries, Inc. Price, Consensus and EPS Surprise | PPG Industries, Inc. Quote
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!
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PPG Industries, Inc. (PPG) : Free Stock Analysis Report
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