PPG Industries Inc. Q1 Profit Increases, beats estimates

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

The company's earnings came in at $264 million, or $1.11 per share. This compares with $18 million, or $0.08 per share, in last year's first quarter.

Excluding items, PPG Industries Inc. reported adjusted earnings of $432 million or $1.82 per share for the period.

Analysts on average had expected the company to earn $1.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.6% to $4.38 billion from $4.31 billion last year.

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

-Earnings (Q1): $264 Mln. vs. $18 Mln. last year. -EPS (Q1): $1.11 vs. $0.08 last year. -Analyst Estimate: $1.53 -Revenue (Q1): $4.38 Bln vs. $4.31 Bln last year.

-Guidance: Next quarter EPS guidance: $2.05 to $2.15 Full year EPS guidance: $6.95 to $7.25