PPG Q3 revenue beats analyst estimates, led by aerospace, Latam coatings
Overview
US paints and coatings maker's Q3 revenue rose 7%, beating analyst expectations
Adjusted EPS for Q3 increased 6%, beating analyst expectations
Company raised midpoint of full-year adjusted EPS guidance
Outlook
PPG raises full-year adjusted EPS guidance to $7.90-$8.10
Company expects Q4 organic sales growth of a low single-digit percentage
PPG sees Q4 adjusted EBITDA margin flat to up 100 basis points year over year
Result Drivers
AEROSPACE AND LATIN AMERICA COATINGS - Organic sales growth was led by aerospace and architectural coatings in Latin America
SELLING PRICE ACTIONS - Higher selling prices contributed to growth, particularly in architectural coatings
PERFORMANCE COATINGS DEMAND - Higher demand for aerospace, protective and marine, and automotive refinish coatings supported segment growth
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $4.35 bln | $4.29 bln (17 Analysts) |
Q3 Adjusted EPS | Beat | $2.25 | $2.12 (20 Analysts) |
Q3 Adjusted Net Income | Beat | $502 mln | $467.96 mln (9 Analysts) |
Q3 Net Income | $473 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commodity chemicals peer group is "buy"
Wall Street's median 12-month price target for PPG Industries, Inc. is $126.00, about 14.6% above its October 26 closing price of $109.90
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)