PPG Industries Beats Analyst Estimates on EPS
PPG Industries (NYS: PPG) reported earnings on July 18. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), PPG Industries met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share grew. GAAP earnings per share was unchanged.
Gross margins increased, operating margins contracted, net margins dropped.
PPG Industries recorded revenue of $4.10 billion. The 15 analysts polled by S&P Capital IQ foresaw a top line of $4.09 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $2.45. The 21 earnings estimates compiled by S&P Capital IQ predicted $2.36 per share. Non-GAAP EPS of $2.45 for Q2 were 3.8% higher than the prior-year quarter's $2.36 per share. GAAP EPS of $2.35 for Q2 were 0.4% higher than the prior-year quarter's $2.34 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 42.8%, 230 basis points better than the prior-year quarter. Operating margin was 12.8%, 120 basis points worse than the prior-year quarter. Net margin was 8.3%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $3.97 billion. On the bottom line, the average EPS estimate is $2.30.
Next year's average estimate for revenue is $15.13 billion. The average EPS estimate is $7.92.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 368 members out of 397 rating the stock outperform, and 29 members rating it underperform. Among 129 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 126 give PPG Industries a green thumbs-up, and three 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 $157.78.
Looking for alternatives to PPG Industries? It takes more than great companies to build a fortune for the future. Learn the basic financial habits of millionaires next door and get focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.
- Add PPG Industries to My Watchlist.
The article PPG Industries Beats Analyst Estimates on EPS 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. The Motley Fool has no position in any of the stocks mentioned. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.