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PPG Industries Set to Report Third-Quarter Earnings

by Myfxtools
October 17, 2023
in News
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PPG Industries, a leading paint and coatings company, is scheduled to release its third-quarter earnings after the market closes on Wednesday. Here’s a summary of what you should know about the upcoming report.

Net Income Expectations

According to a consensus of seven analysts polled by FactSet, PPG Industries is anticipated to announce a profit of $442.2 million for the third quarter. This compares to $329 million in the same period last year.

Revenue Projection

Analysts estimate that PPG’s revenue will increase to $4.64 billion for the third quarter, up from $4.47 billion reported a year ago. This projection is based on estimates provided by 15 analysts surveyed by FactSet.

Adjusted Earnings Outlook

The company is expected to report adjusted earnings of $1.94 per share. This figure exceeds the previously provided guidance range of $1.85 to $1.95 per share.

Key Factors to Monitor

Raw Materials

The cost of raw materials significantly impacts PPG’s margins. Following the second-quarter results, management stated that raw material costs have returned to pre-pandemic levels. Investors will be closely watching for any indications that raw material costs continue to decline.

Impact of Home Sales

PPG’s business is closely tied to the performance of the housing market. The company has cautioned that an increase in mortgage rates and a decline in home sales could negatively affect its domestic business. Analysts will be paying attention to any updates on this front.

International Markets

PPG has experienced a sluggish recovery in its international markets, particularly in China. In the previous quarter, the company expressed expectations of modest sequential improvement in Chinese demand and more stable European demand moving forward. Investors will be eager to see if these anticipated trends have materialized.

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Tags: earnings reportHome Salesinternational marketsnet incomePPG Industriesraw materialsrevenue projection
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