PPG 2Q Earnings Pregame Scorecard
Having beaten analysts' expectations in each of the last five quarters, PPG (NYSE:PPG) will announce on Thursday whether the streak is alive or snapped.
Analysts currently expect PPG to come in with earnings of $2.37 per share on revenues of $4.16 billion. Analyst estimates range from $2.15 per share to $2.50 per share. Over the past three months, the average estimate has moved up from $2.30.
Last Quarter's Results
In the first quarter, profit fell 94.3% to $13 million (8 cents a share) from $228 million ($1.40 a share) the year earlier, but exceeded analyst expectations. Revenue rose 6.2% to $3.75 billion from $3.53 billion.
Analysts are bullish on the stock as nine analysts rate it as a buy and there are no sell ratings. Wall Street has warmed to the stock over the past three months, with the average analyst estimate increasing to Moderate buy from Hold.
The stock fell $6.40 per share between May 3, 2012 and May 23, 2012. Looking at change over the last three months, from April 18, 2012 and July 13, 2012, the stock price is up $4.87 (4.9%), from $98.47 to $103.34.
Company Fundamental Trends
Reporting Period: 2Q
Date of Release: Thursday, July 19, 2012 before market open
Revenue Estimate: $4.16 billion
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)