trending Market Intelligence /marketintelligence/en/news-insights/trending/sIrKbQCkscfnLcMonFGoEw2 content esgSubNav
In This List

PPG Industries profit misses consensus by 30.9% in Q4

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future


PPG Industries profit misses consensus by 30.9% in Q4

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.