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PPG - PPG Industries Inc News Story

$177.39 -1.9  -1.0%

Last Trade - 6:23pm

Sector
Basic Materials
Size
Large Cap
Market Cap £30.08bn
Enterprise Value £33.21bn
Revenue £10.15bn
Position in Universe 304th / 6853

BRIEF-PPG Industries Q1 Earnings Per Share $1.58

Thu 15th April, 2021 9:40pm
April 15 (Reuters) - PPG Industries Inc  PPG.N :
    * PPG REPORTS RECORD FIRST QUARTER 2021 FINANCIAL RESULTS
    * Q1 EARNINGS PER SHARE $1.58
    * Q1 NET SALES OF APPROXIMATELY $3.9 BILLION, ABOUT 15%
HIGHER
THAN PRIOR YEAR
    * COMPLETED VERSAFLEX ACQUISITION AND EXPECT TIKKURILA AND
WÖRWAG
ACQUISITIONS TO CLOSE IN Q2
    * QTRLY ADJUSTED EPS OF $1.88
    * FOR Q2, SEES AGGREGATE SEQUENTIAL NET SALES UP A LOW-TEEN
PERCENTAGE WHEN COMPARED TO Q1 2021
    * PPG INDUSTRIES - IN NEAR-TERM, MANAGING THROUGH DIRECT
SUPPLY
CHAIN DISRUPTIONS, PRODUCTION CONSTRAINTS AT SOME CUSTOMERS DUE
TO INPUT COMPONENT SHORTAGES
    * SEES Q2 ADJUSTED EARNINGS PER DILUTED SHARE BETWEEN $2.15
AND
$2.20
    * Q1 EARNINGS PER SHARE VIEW $1.56, REVENUE VIEW $3.68
BILLION --
REFINITIV IBES DATA
    * PPG INDUSTRIES - SUPPLY CHAIN DISRUPTIONS & PRODUCTION
CONSTRAINTS AT SOME OF CO'S CUSTOMERS TO LIKELY DELAY SOME
SEASONAL SALES ACTIVITY INTO H2 OF YEAR
    * OVERALL DEMAND GROWTH ACROSS MUCH OF OUR BUSINESS
PORTFOLIO
REMAINS VERY STRONG
    * Q2 EARNINGS PER SHARE VIEW $2.02, REVENUE VIEW $4.05
BILLION --
REFINITIV IBES DATA
    * PPG INDUSTRIES - COMMODITY DISRUPTIONS AFFECTING COATINGS
SUPPLY
CHAIN RESULTED IN RAW MATERIAL COST INFLATION, WHICH WE EXPECT
TO REMAIN ELEVATED INTO AT LEAST Q3
    * PRIORITIZING FURTHER SELLING PRICE INCREASES, WHICH WE
EXPECT TO
FULLY OFFSET RAW MATERIAL COST INFLATION IN SECOND HALF OF 2021

Source text for Eikon:  ID:nBw7YpbFta 
Further company coverage:  PPG.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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