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PPG Industries (PPG) Q4 Earnings Beat, Sales Miss Estimates
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PPG Industries Inc. ((PPG - Free Report) ) has a diversified business and a leading position in several paints and coatings end markets. The company has taken steps to grow its business organically as well as reduce costs. However, PPG Industries faces a number of headwinds, including a still sluggish global economy. The company’s earnings are also heavily exposed to unfavorable currency fluctuations.
Let’s have a quick look at this Pittsburgh-based coating giant’s fourth-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for PPG Industries for the fourth quarter has been stable over the last month. PPG Industries has beaten the Zacks Consensus Estimate in 2 out of the 4 trailing quarters with an average beat of 0.33%, while coming in line in 2 quarters.
PPG Industries logged adjusted earnings of $1.19 per share for the quarter, up 2.6% year over year. It beat the Zacks Consensus Estimate of $1.18. Adjusted earnings exclude one-time items including business restructuring charges.
Revenues
PPG Industries posted fourth-quarter revenues of $3,497 million, down 1.5% year over year. It trailed the Zacks Consensus Estimate of $3,552 million. Unfavorable currency swings impacted net sales by 3%. The net effect of portfolio actions contributed less than 1% to sales.
Key Stats/Developments to Note
PPG Industries saw its sales volume grow year over year in the quarter, supported by a 5% volumes growth in the Industrial Coatings business. Volumes in the Performance Coatings segment declined less than 1%. The company completed its cash deployment commitment, achieving the upper end of the set target. In the quarter, the company repurchased shares worth $650 million.
Zacks Rank
PPG Industries currently has a Zacks Rank #3 (Hold).
Market Reaction
PPG Industries’ shares were inactive in pre-market trading. 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 (PPG) Q4 Earnings Beat, Sales Miss Estimates
PPG Industries Inc. ((PPG - Free Report) ) has a diversified business and a leading position in several paints and coatings end markets. The company has taken steps to grow its business organically as well as reduce costs. However, PPG Industries faces a number of headwinds, including a still sluggish global economy. The company’s earnings are also heavily exposed to unfavorable currency fluctuations.
Let’s have a quick look at this Pittsburgh-based coating giant’s fourth-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for PPG Industries for the fourth quarter has been stable over the last month. PPG Industries has beaten the Zacks Consensus Estimate in 2 out of the 4 trailing quarters with an average beat of 0.33%, while coming in line in 2 quarters.
PPG Industries Inc. Price and EPS Surprise
PPG Industries Inc. Price and EPS Surprise | PPG Industries Inc. Quote
Earnings
PPG Industries logged adjusted earnings of $1.19 per share for the quarter, up 2.6% year over year. It beat the Zacks Consensus Estimate of $1.18. Adjusted earnings exclude one-time items including business restructuring charges.
Revenues
PPG Industries posted fourth-quarter revenues of $3,497 million, down 1.5% year over year. It trailed the Zacks Consensus Estimate of $3,552 million. Unfavorable currency swings impacted net sales by 3%. The net effect of portfolio actions contributed less than 1% to sales.
Key Stats/Developments to Note
PPG Industries saw its sales volume grow year over year in the quarter, supported by a 5% volumes growth in the Industrial Coatings business. Volumes in the Performance Coatings segment declined less than 1%. The company completed its cash deployment commitment, achieving the upper end of the set target. In the quarter, the company repurchased shares worth $650 million.
Zacks Rank
PPG Industries currently has a Zacks Rank #3 (Hold).
Market Reaction
PPG Industries’ shares were inactive in pre-market trading. 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!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>