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PPG anticipates strong second quarter results

Post Time:Jun 16,2010Classify:Industry NewsView:96

PPG Industries, Pittsburgh,announced June 16 that it expects its second quarter earnings, excluding unusual items, to be in the range of $1.40 to $1.50 per share. Adjusted earnings per share were 91 cents per share in the second quarter 2009 and 70 cents per share in the first quarter 2010.

“We are continuing to experience year-over-year demand improvements in the second quarter consistent with our volume growth in the first quarter of this year,” said Robert J. Dellinger, PPG senior vice president, finance, and chief financial officer. “Volume growth is continuing in the Industrial Coatings, Optical and Specialty Materials, Commodity Chemicals and Glass segments, while Architectural Coatings-EMEA is experiencing mid-single-digit percentage volume declines. Also, our Performance Coatings segment is benefiting from an improved business mix due to stronger results in automotive refinish and aerospace, two of our top performing businesses,” he said.

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