Investing.com - PPG Industries reported on Monday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
PPG Industries announced earnings per share of $1.19 on revenue of $3.38B. Analysts polled by Investing.com anticipated EPS of $1.21 on revenue of $3.45B. That with comparison to EPS of $1.38 on revenue of $3.62B in the same period a year before.PPG Industries had reported EPS of $1.31 on revenue of $3.67B in the previous quarter.Analysts are expecting EPS of $1.36 and revenue of $3.48B in the upcoming quarter.
PPG Industries shares are down 28% from the beginning of the year and are trading at $95.87 , down-from-52-week-high.They are under-performing the S&P 500 which is down 11.31% year to date.
PPG Industries follows other major Basic Materials sector earnings this month
PPG Industries's report follows an earnings missed by Air Products on Thursday, who reported EPS of $2.04 on revenue of $2.22B, compared to forecasts EPS of $2.08 on revenue of $2.16B.
Southern Copper had missed expectations on Friday with first quarter EPS of $0.28 on revenue of $1.72B, compared to forecast for EPS of $0.35 on revenue of $1.67B.
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