PPG Industries (PPG) Tops Q3 EPS by 4c

PPG Industries (NYSE: PPG) reported Q3 EPS of $1.61, $0.04 better than the analyst estimate of $1.57. Revenue for the quarter came in at $3.87 billion versus the consensus estimate of $4.05 billion.

At the end of the third quarter, PPG reported approximately $1.4 billion of cash and short-term investments, down from $3.0 billion in the prior-year quarter due to cash-deployment actions. During the quarter, the company repurchased about $150 million, or about 1.5 million shares, of PPG stock. Year-to-date, the company has repurchased about $500 million in PPG stock, in comparison with a 2014 year-to-date figure of $450 million. PPG has approximately $1.2 billion remaining of its current share-repurchase authorization, which was approved in 2014.

For earnings history and earnings-related data on PPG Industries (PPG) click here.

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