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U.S. paint giant PPG's fourth-quarter net profit fell but exceeded expectations

 Last Update: 2021-03-08
 Source: Internet
 Author: User

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BEIJING, Jan. 16 (Xinhua) -- U.S.
Coatings
giant PPG Industries Inc (PPG) reported a sharp drop in fourth-quarter net profit on Thursday, but its adjusted results were better than market expectations.
net profit fell to $83 million, or 61 cents per share, in the quarter to the end of December from $254 million, or $1.80 per share, a year earlier. Excluding one-time items, adjusted earnings per share rose to $2.11 from $1.68 a year earlier, above the average estimate of $1.99 for analysts polled by Thomson Reuters.
revenue rose 5.9 percent to $3.71 billion, above analysts' average estimate of $3.63 billion.

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