PPG Industries (NYSE: PPG) reported Q4 EPS of $1.31, $0.03 worse than the analyst estimate of $1.34. Revenue for the quarter came in at $3.7 billion versus the consensus estimate of $3.68 billion.

GUIDANCE:

PPG Industries sees Q1 2020 EPS of $1.32-$1.42, versus the consensus of $1.53.

• “As we start 2020, we expect organic growth in our Performance Coatings segment to continue as we supply various consumer-facing and aftermarkets where demand remains solid, although segment sales will be impacted due to lower production rates by an aerospace customer. With respect to our Industrial Coatings segment, we anticipate a return to volume growth in the second half of 2020. At the outset of this year, we are beginning to see a modest recovery in China industrial demand, but expect weak general industrial demand to continue in Europe and the U.S. We will continue to aggressively manage our businesses based on these forecasts. Given these expectations, our full-year 2020 financial guidance is as follows:
• Sales growth of 1 to 3 percent in constant currencies, including recently announced acquisitions
• Adjusted earnings per share growth of 4% to 9%, excluding currency translation impacts
• “Our guidance range is broad reflecting the heightened level of uncertainty at this particular time. Embedded in our guidance is first quarter earnings per diluted share from continuing operations of $1.32 to $1.42.

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