FX.co ★ PPG Industries Inc. Q2 Profit Increases, Beats Estimates

PPG Industries Inc. (PPG) has announced an increase in profit for its second quarter, surpassing Wall Street expectations.

The company's net earnings for the period reached $528 million, translating to $2.24 per share. This is an improvement from the previous year's second-quarter earnings of $490 million, or $2.06 per share.

When excluding special items, PPG Industries' adjusted earnings rose to $590 million, or $2.50 per share, for the quarter. This exceeded the consensus estimate of $2.48 per share, as compiled by Thomson Reuters. Notably, analysts' forecasts typically exclude special items.

Despite this earnings growth, the company's revenue experienced a decline of 1.6%, dropping to $4.79 billion compared to $4.87 billion in the same period last year.

A summary of PPG Industries Inc.'s earnings under GAAP for the second quarter is as follows:

- Net Earnings (Q2): $528 million versus $490 million in the previous year.

- Earnings Per Share (EPS, Q2): $2.24 compared to $2.06 last year.

- Revenue (Q2): $4.79 billion versus $4.87 billion last year.

**Guidance:**

- Anticipated EPS for the next quarter: $2.10 - $2.20

- Projected full-year EPS: $8.15 - $8.30