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PPG Provides Guidance
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Earnings of PPG Industries for the fourth quarter are forecast to be between 55 and 60 cents a share, according to Raymond W. LeBoeuf, chairman and chief executive officer.
First Call's current estimate range for PPG is 70 cents to 83 cents. Per share earnings in the fourth quarter of 2001 were 49 cents.
"Sales and earnings for the quarter will be ahead of last year's fourth quarter, primarily in coatings and chemicals. Nevertheless, the continued slowdown in overall industrial production continues to dampen our earnings performance," LeBoeuf said.
"Typically, several of our businesses experience seasonal slowdowns in the fourth quarter, such as architectural coatings and optical products. We are also experiencing slower-than-expected increases in our commodity chemical prices."
Pittsburgh-based PPG is a global supplier of coatings, glass, fiber glass and chemicals, with 120 manufacturing facilities and equity affiliates in 23 countries. Sales in 2001 were $8.2 billion.
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November 26th, 2002
Source: Northernlight Library |
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