PPG Industries Inc. said its fourth-quarter normalized net income was 82 cents per share, compared with the S&P Capital IQ consensus estimate of $1.18 per share.
EPS fell 10.0% year over year from 91 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $215.4 million, a decline of 12.4% from $246.0 million in the prior-year period.
The normalized profit margin fell to 6.2% from 6.9% in the year-earlier period.
Total revenue declined on an annual basis to $3.50 billion from $3.55 billion, and total operating expenses fell year over year to $3.11 billion from $3.15 billion.
Reported net income declined 73.7% year over year to $77.7 million, or 29 cents per share, from $295.2 million, or $1.09 per share.
For the year, the company's normalized net income totaled $4.57 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $5.90.
EPS rose from $4.36 in the prior year.
Normalized net income was $1.22 billion, a gain from $1.19 billion in the prior year.
Full-year total revenue totaled $14.75 billion, compared with $14.77 billion in the prior year, and total operating expenses came to $12.65 billion, compared with $12.78 billion in the year-earlier period.
The company said reported net income declined year over year to $564.2 million, or $2.11 per share, in the full year, from $1.34 billion, or $4.89 per share.
