PPG Industries Stock Falls On Q2 Earnings: The Details
Portfolio Pulse from Adam Eckert
PPG Industries Inc (NYSE:PPG) shares fell in after-hours trading following the release of their Q2 earnings report, which showed a revenue miss and a cut in guidance. Despite beating earnings per share estimates, the company lowered its full-year outlook, citing weak global automotive builds and soft industrial production.
July 18, 2024 | 8:48 pm
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PPG Industries reported Q2 revenue of $4.794 billion, missing analyst estimates, but beat EPS estimates with $2.50 per share. The company cut its full-year guidance, leading to a 4.07% drop in after-hours trading.
The revenue miss and lowered guidance indicate potential challenges ahead for PPG Industries, leading to a negative short-term impact on the stock price. Despite beating EPS estimates, the cautious outlook and reduced full-year guidance have likely contributed to the stock's decline.
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