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PPG Industries Profit Rises On Global Growth Led By Europe


PPG Industries says profits in the second quarter rose double digits on the back of growth in all major geographic regions. Profit came in at $386 million, that's 13% better than one year earlier. That breaks down to $2.75 a share. Revenue increased to over $4 billion. That's slightly lower than estimates, but it's still higher compared to the same period last year. While PPG saw growth in all major geographic areas, Europe clearly stood out. According to Chairman and CEO Charles Bunch, European earnings grew 28%, far better than the pace of the growth in the U.S. and Canada. Emerging regions' earnings also grew 12%. PPG's CEO Chuck Bunch is one of Jim Cramer's Bankable 21 CEO's. Cramer says Bunch is a terrific CEO who will not rest until all of the PPG's products are "best in breed." TheStreet's Julia Sun has details.