PPG Posts Record Fourth-Quarter and Full-Year Results
PITTSBURGH – Paint and coatings manufacturer PPG Industries, Pittsburgh, has reported fourth-quarter 2012 net sales of $3.6 billion and record fourth-quarter adjusted earnings per share of $1.53, up 10 percent versus 2011. Earnings for the coatings segment grew 30 percent in the fourth quarter and 20 percent for the year. The company reported full-year adjusted earnings per share of $7.94 and full-year sales of $15.2 billion. The company did well across regions, with improved full-year earnings in each major global region.
Net income for the quarter was $227 million, or $1.46 per diluted share, including nonrecurring charges. Adjusted net income for the quarter, excluding the nonrecurring charges, was $238 million, or $1.53 per diluted share. Fourth-quarter 2011 net sales were $3.5 billion, and net income was $216 million, or $1.39 per diluted share.