PPG Projects 2019 Adj. EPS Growth At Low-to-mid End Of Prior Guidance Range

PPG Industries, Inc. (PPG) said the company currently expects 2019 adjusted earnings per share to be in the range of $6.17 to $6.27. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.24. Analysts' estimates typically exclude special items.

PPG said its updated guidance places 2019 adjusted earnings-per-share growth at the low-to-mid end of the company's prior 7% to 10% range, excluding currency translation impacts. PPG continues to target full-year sales growth of a low-single-digit percentage, excluding currency translation impacts.

Third quarter adjusted net income per share from continuing operations was $1.67 per share, growth of 15 percent compared to the prior year quarter. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $1.61, for the quarter.

Third quarter net sales were approximately $3.83 billion, compared to $3.82 billion, prior year. Net sales in constant currencies were about 2 percent higher versus the previous year, driven by higher selling prices and acquisition-related sales. Aggregate sales volumes were down nearly 3 percent from prior year. Analysts expected revenue of $3.89 billion for the quarter.

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