PPG Industries 3Q Earnings Up 37 Percent

Diversified manufacturer PPG Industries Inc. on Friday reported third-quarter earnings rose 37 percent, as profit surpassed analyst expectations despite charges in the period.Quarterly income was $194 million, or $1.12 a share, up from $142 million, or 83 cents a share, last year.

The latest period includes asbestos settlement and stock option charges of $7 million, or 5 cents a share, partially offset by a gain of $5 million, or 3 cents a share, to reflect the benefits of Medicare prescription drug legislation. Year-ago earnings include a charge of $5 million, or 3 cents a share, for the increase in the value of the company's asbestos settlement.

Sales rose 9 percent to $2.41 billion from $2.21 billion a year ago.

Analysts had forecast earnings of $1.03 a share on revenue of $2.36 billion for the quarter.

Coatings sales increased 8 percent, driven by stronger volumes across all businesses and the strengthening of foreign currencies. Glass sales rose 2 percent on higher volumes in the fiber glass and flat glass businesses and the strengthening of foreign currencies. Sales in the chemicals segment increased 22 percent on higher volumes, higher selling prices and the strengthening of foreign currencies.

600450 PPG Industries 3Q Earnings Up 37 Percent glassonweb.com

See more news about:

Others also read

The glass sector has the increasingly widespread requirement of having an unlimited catalogue of parametric shapes and creating new ones in a simple way without being an expert in the field.
Shoaib Akhtar is going to be back on Indian TV screens. He is going to be featured in the new TV ad campaign for Asahi Glass.
Glass Confusion is starting the New Year with Beginning Fused Glass group classes. The three-week course will be held Wednesdays from 10 a.m. to 1 p.m. and again from 5 p.m. to 9 p.m.
Worldwide glass-substrate capacity is expected to continue to grow more than 40% each quarter through 2005, as a result of capacity expansion by existing glass-substrate suppliers and new companies joining the market, according to DisplaySearch.
Western Pennsylvania’s once-thriving glassmaking industry is dwindling, as did the domestic steel industry and for many of the same reasons: competition and cost.
Architects Robert and Esteve Terradas of Barcelona describe the city’s newly-renovated and expanded (45,000 m2) Science Museum (completed September 2004) as "a living museum that will set new standards in terms of transparency - a very modern construction that will enable the plants and animals inside to really live and breathe." The project was made possible by the use of an innovative grade of DuPont™ SentryGlas© Plus™ structural interlayer that is "UV-breathable, on the flat roof of an Amazonian rainforest exhibit".The UV-breathable 938 m2 laminated glass roof is rectangular in shape.

Add new comment