PPG Industries (PPG) Tops Q1 EPS by 1c
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PPG Reports First Quarter 2020 Financial Results
April 27, 2020 4:20 PM EDTFirst quarter net sales of about $3.4 billion, approximately 7% lower than the prior year and down nearly 5% in constant currencies First quarter reported earnings per diluted share (EPS) of $1.02 and adjusted EPS of $1.19 Net sales and EPS includes an estimated unfavorable impact from the effects of the COVID-19 pandemic of approximately $225 million and $0.35, respectively Rapid implementation of cash and cost management actions Cash and short-term investments of approximately $1.9 billion at quarter-end; supplemented by an additional $700 million from recent April short-term borrowing Completed bolt-on acquisitions of ICR and Alpha Coating... More
