PITTSBURGH (AP) — PITTSBURGH (AP) — PPG Industries Inc. (PPG) on Thursday reported a loss of $280 million in its fourth quarter.
The Pittsburgh-based company said it had a loss of $1.20 per share. Earnings, adjusted for restructuring costs and to account for discontinued operations, came to $1.61 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The paint and coatings maker posted revenue of $3.73 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $4.01 billion.
For the year, the company reported profit of $1.12 billion, or $4.75 per share. Revenue was reported as $15.85 billion.
PPG Industries expects full-year earnings in the range of $7.75 to $8.05 per share.
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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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