Charting PPG Industries' Latest Earnings Release
PPG Industries (NYS: PPG) reported earnings on July 19. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), PPG Industries missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share improved.
Margins grew across the board.
PPG Industries logged revenue of $3.96 billion. The 12 analysts polled by S&P Capital IQ wanted to see sales of $4.16 billion on the same basis. GAAP reported sales were 0.8% lower than the prior-year quarter's $3.99 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $2.36. The 17 earnings estimates compiled by S&P Capital IQ anticipated $2.35 per share. GAAP EPS of $2.34 for Q2 were 10% higher than the prior-year quarter's $2.12 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 40.5%, 110 basis points better than the prior-year quarter. Operating margin was 14.0%, 120 basis points better than the prior-year quarter. Net margin was 9.2%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $4.03 billion. On the bottom line, the average EPS estimate is $2.20.
Next year's average estimate for revenue is $15.60 billion.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 354 members out of 380 rating the stock outperform, and 26 members rating it underperform. Among 102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 100 give PPG Industries a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PPG Industries is outperform, with an average price target of $114.33.
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The article Charting PPG Industries' Latest Earnings Release originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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