PPG Industries Inc. Q1 Profit Increases, Inline With Estimates

(RTTNews) - PPG Industries Inc. (PPG) announced earnings for its first quarter that increased from the same period last year in line with the Street estimates.

The company's bottom line totaled $400 million, or $1.69 per share. This compares with $264 million, or $1.11 per share, in last year's first quarter.

Excluding items, PPG Industries Inc. reported adjusted earnings of $441 million or $1.86 per share for the period.

Analysts on average had expected the company to earn $1.86 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 $4.31 billion from $4.38 billion last year.

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

-Earnings (Q1): $400 Mln. vs. $264 Mln. last year. -EPS (Q1): $1.69 vs. $1.11 last year. -Revenue (Q1): $4.31 Bln vs. $4.38 Bln last year.

-Guidance: Next quarter EPS guidance: $2.42 - $2.52 Full year EPS guidance: $8.34 - $8.59