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PPG Industries (PPG) Q2 Earnings, Sales Beat Estimates

PPG Industries, Inc.PPG , based in Pennsylvania, has a diversified business and a leading position in several paints and coatings end markets.

Earnings

PPG Industries' adjusted earnings were $1.90 per share for the second quarter, up around 6% year over year. It beat the Zacks Consensus Estimate of $1.89.

Revenues

PPG Industries posted revenues of $4,131 million, up roughly 9% year over year. It also beat the Zacks Consensus Estimate of $4,118 million. Favorable currency swings improved net sales by more than 2%.

PPG Industries, Inc. Price and EPS Surprise

PPG Industries, Inc. Price and EPS Surprise | PPG Industries, Inc. Quote

Estimate Trend & Surprise History

Investors should note that the earnings estimate for PPG Industries for the second quarter remain stable over the last month. PPG Industries surpassed the Zacks Consensus Estimate in two of the trailing four quarters, missed once and met expectations on the other occasion, delivering an average beat of 0.1%.

Key Stats/Developments to Note

PPG Industries bought back shares totalling nearly $1.1 billion during the first half including around $460 million in the second quarter. The company expects to continue its earnings-accretive cash deployment in the second half of the year. It remains committed to deploy $2.4 billion of cash in 2018 on acquisitions and share repurchases.

Zacks Rank

PPG Industries currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Market Reaction

PPG Industries' shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on PPG Industries' earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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