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PPG Industries profit misses consensus by 18.1% in Q2

PPG Industries Inc. said its second-quarter normalized net income came to $1.50 per share, compared with the S&P Capital IQ consensus estimate of $1.83 per share.

EPS increased 5.2% year over year from $1.42.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $387.5 million, an increase from $382.8 million in the year-earlier period.

The normalized profit margin increased to 10.2% from 10.1% in the year-earlier period.

Total revenue came to $3.81 billion, compared with $3.78 billion in the prior-year period, and total operating expenses came to $3.17 billion, compared with $3.14 billion in the prior-year period.

Reported net income rose 50.1% year over year to $505.1 million, or $1.95 per share, from $336.4 million, or $1.25 per share.