PPG Indus Q1 Adj EPS $1.86, Inline, Sales $4.31B Miss $4.43B Estimate
Portfolio Pulse from Benzinga Newsdesk
PPG Industries (NYSE:PPG) reported Q1 adjusted earnings per share of $1.86, meeting analyst expectations but showing a modest 2.2% increase from last year. However, their quarterly sales of $4.31 billion fell short of the $4.43 billion estimate, marking a 1.58% decrease from the previous year.
April 18, 2024 | 8:05 pm
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PPG Industries reported Q1 adjusted EPS of $1.86, aligning with estimates, and a slight 2.2% YOY increase. However, sales of $4.31 billion missed estimates, showing a 1.58% YOY decline.
The alignment of EPS with analyst expectations and a modest year-over-year increase may provide some positive sentiment. However, the miss on sales estimates and a year-over-year decrease could temper optimism, leading to a neutral short-term impact on PPG's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100