PPG Industries Inc. said its first-quarter normalized net income came to $1.11 per share, compared with the S&P Capital IQ consensus estimate of $1.32 per share.
EPS rose 10.0% year over year from $1.01.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $288.8 million, an increase of 6.0% from $272.4 million in the year-earlier period.
The normalized profit margin increased to 8.1% from 8.0% in the year-earlier period.
Total revenue increased year over year to $3.57 billion from $3.41 billion, and total operating expenses rose 5.2% on an annual basis to $3.09 billion from $2.94 billion.
Reported net income grew on an annual basis to $334.8 million, or $1.29 per share, from $328.5 million, or $1.22 per share.