PPG Industries Inc. makes coatings, glass and chemical products.
PPG Industries, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $2.01 per share, a rise of 22.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.91. Between one and three months ago, the average estimate moved up, and has risen from $1.99 during the last month. For the year, analysts are projecting net income of $6.68 per share, a rise of 28.5% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 6 cents, reporting profit of $1.40 per share against a mean estimate of net income of $1.34 per share.
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Wall St. Revenue Expectations: On average, analysts predict $3.8 billion in revenue this quarter, a rise of 9.8% from the year ago quarter. Analysts are forecasting total revenue of $14.76 billion for the year, a rise of 10% from last year’s revenue of $13.42 billion.
Analyst Ratings: Analysts seem relatively indifferent about PPG Industries with eight of 10 analysts surveyed maintaining a hold rating.
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose more than sevenfold while it rose 44.4% in the fourth quarter of the last fiscal year and 64.8% in the third quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 13% to $3.53 billion in first quarter. The figure rose 8.4% in the fourth quarter of the last fiscal year from the year earlier, climbed 7.3% in the third quarter of the last fiscal year from the year-ago quarter and 11% in the second quarter of the last fiscal year.
Competitors to Watch: The Valspar Corporation ( NYSE:VAL ), RPM International Inc. ( NYSE:RPM ), Sherwin-Williams Company ( NYSE:SHW ), E.I. du Pont de Nemours & Co. ( NYSE:DD ), Olin Corporation ( NYSE:OLN ), Corning Incorporated ( NYSE:GLW ), and FMC Corporation ( NYSE:FMC ).
Stock Price Performance: During June 16, 2011 to July 15, 2011, the stock price had risen $5.56 (6.6%) from $84.11 to $89.67. The stock price saw one of its best stretches over the last year between December 16, 2010 and December 29, 2010 when shares rose for nine-straight days, rising 3.4% (+$2.72) over that span. It saw one of its worst periods between April 6, 2011 and April 13, 2011 when shares fell for six-straight days, falling 4.3% (-$4.11) over that span. Shares are up $6.65 (+8%) year to date.
(Source: Xignite Financials)