PPG Industries Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 10/18 10:42

PPG Industries (NYSE:PPG) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$4.58b (down 1.5% from 3Q 2023).
  • Net income: US$468.0m (up 9.9% from 3Q 2023).
  • Profit margin: 10% (up from 9.2% in 3Q 2023). The increase in margin was driven by lower expenses.
  • EPS: US$2.01 (up from US$1.80 in 3Q 2023).
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NYSE:PPG Earnings and Revenue Growth October 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

PPG Industries Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 1.2%.

Looking ahead, revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Chemicals industry in the US.

Performance of the American Chemicals industry.

The company's shares are up 3.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for PPG Industries you should know about.