PPG Industries Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - PPG Industries Inc. (PPG) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $18 million, or $0.08 per share. This compares with $378 million, or $1.58 per share, in last year's first quarter.

Excluding items, PPG Industries Inc. reported adjusted earnings of $327 million or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.1% to $4.31 billion from $3.88 billion last year.

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

-Earnings (Q1): $18 Mln. vs. $378 Mln. last year. -EPS (Q1): $0.08 vs. $1.58 last year. -Analyst Estimates: $1.11 -Revenue (Q1): $4.31 Bln vs. $3.88 Bln last year.

-Guidance: Next quarter EPS guidance: Adj; $1.60 to $1.90