PPG Industries Inc. said its third-quarter normalized net income amounted to $1.24 per share, compared with the S&P Capital IQ consensus estimate of $1.53 per share.
EPS decreased year over year from $1.25.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $319.6 million, a decline from $333.8 million in the year-earlier period.
The normalized profit margin dropped to 8.5% from 9.1% in the year-earlier period.
Total revenue rose year over year to $3.78 billion from $3.66 billion, and total operating expenses climbed year over year to $3.24 billion from $3.10 billion.
Reported net income totaled $392.5 million, or $1.52 per share, compared with a loss of $210.4 million, or a loss of 79 cents per share, in the prior-year period.