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PITTSBURGH (AP) — PITTSBURGH (AP) — PPG Industries Inc. (PPG) on Thursday reported fourth-quarter profit of $90 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 38 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.53 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The paint and coatings maker posted revenue of $4.35 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $4.27 billion.
For the year, the company reported profit of $1.27 billion, or $5.35 per share. Revenue was reported as $18.25 billion.
For the current quarter ending in March, PPG Industries expects its per-share earnings to range from $1.80 to $1.87.
The company expects full-year earnings in the range of $8.34 to $8.59 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PPG at https://www.zacks.com/ap/PPG