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PPG Industries (PPG) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2024, PPG Industries (PPG) reported revenue of $4.31 billion, down 1.6% over the same period last year. EPS came in at $1.86, compared to $1.82 in the year-ago quarter.

The reported revenue represents a surprise of -2.71% over the Zacks Consensus Estimate of $4.43 billion. With the consensus EPS estimate being $1.86, the company has not delivered EPS surprise.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how PPG Industries performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Industrial Coatings: $1.70 billion compared to the $1.73 billion average estimate based on four analysts. The reported number represents a change of -3.1% year over year.

  • Net Sales- Performance Coatings: $2.61 billion versus $2.69 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.5% change.

  • Segment Income- Industrial Coatings: $249 million versus $242.05 million estimated by four analysts on average.

  • Segment Income- Performance Coatings: $402 million versus the four-analyst average estimate of $411.10 million.

View all Key Company Metrics for PPG Industries here>>>

Shares of PPG Industries have returned -5.1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research