PITTSBURGH (AP) _ PPG Industries Inc. (PPG) on Monday reported third-quarter earnings of $442 million.
The Pittsburgh-based company said it had net income of $1.86 per share. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.93 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The paint and coatings maker posted revenue of $3.69 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $3.61 billion.
For the current quarter ending in December, PPG Industries expects its per-share earnings to range from $1.50 to $1.57. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.41.
PPG Industries shares have climbed roughly 1% since the beginning of the year, while the Standard & Poor's 500 index has increased 6%. In the final minutes of trading on Monday, shares hit $134.32, an increase of 11% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PPG at https://www.zacks.com/ap/PPG
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