WASHINGTON (dpa-AFX) - PPG Industries Inc. (PPG) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $90 million, or $0.38 per share. This compares with $238 million, or $1.01 per share, in last year's fourth quarter.
Excluding items, PPG Industries Inc. reported adjusted earnings of $363 million or $1.53 per share for the period.
Analysts on average had expected the company to earn $1.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.8% to $4.35 billion from $4.19 billion last year.
PPG Industries Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $90 Mln. vs. $238 Mln. last year. -EPS (Q4): $0.38 vs. $1.01 last year. -Analyst Estimates: $1.50 -Revenue (Q4): $4.35 Bln vs. $4.19 Bln last year.
-Guidance: Next quarter EPS guidance: $1.80 - $1.87
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