PPG Industries Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - PPG Industries Inc. (PPG) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $528 million, or $2.24 per share. This compares with $490 million, or $2.06 per share, in last year's second quarter.

Excluding items, PPG Industries Inc. reported adjusted earnings of $590 million or $2.50 per share for the period.

Analysts on average had expected the company to earn $2.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.6% to $4.79 billion from $4.87 billion last year.

PPG Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $528 Mln. vs. $490 Mln. last year. -EPS (Q2): $2.24 vs. $2.06 last year. -Revenue (Q2): $4.79 Bln vs. $4.87 Bln last year.

-Guidance: Next quarter EPS guidance: $2.10 - $2.20 Full year EPS guidance: $8.15 - $8.30