PPG Industries Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - PPG Industries Inc. (PPG) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $329 million, or $1.39 per share. This compares with $344 million, or $1.43 per share, in last year's third quarter.

Excluding items, PPG Industries Inc. reported adjusted earnings of $393 million or $1.66 per share for the period.

Analysts on average had expected the company to earn $1.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.3% to $4.47 billion from $4.37 billion last year.

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

-Earnings (Q3): $329 Mln. vs. $344 Mln. last year. -EPS (Q3): $1.39 vs. $1.43 last year. -Analyst Estimates: $1.65 -Revenue (Q3): $4.47 Bln vs. $4.37 Bln last year.

-Guidance: Next quarter EPS guidance: $1.05 to $1.20