PITTSBURGH (AP) — PITTSBURGH (AP) — PPG Industries Inc. (PPG) on Thursday reported second-quarter net income of $490 million.
On a per-share basis, the Pittsburgh-based company said it had profit of $2.06. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $2.25 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.14 per share.
The paint and coatings maker posted revenue of $4.87 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $4.89 billion.
For the current quarter ending in September, PPG Industries expects its per-share earnings to range from $1.85 to $1.95. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.33.
The company expects full-year earnings in the range of $7.28 to $7.48 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PPG at https://www.zacks.com/ap/PPG
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