PPG 4th Quarter Earnings Released

Coatings giant PPG Industries' ( PPG ) recorded adjusted earnings from continuing operations (excluding acquisition-related expenses of $4 million or 3 cents per share) of $1.81 a share for fourth-quarter 2013, up 45% year over year from $1.25 per share reported in the year-ago quarter. The results exceeded the Zacks Consensus Estimate of $1.73 per share.
The company has delivered 14 straight quarters of record adjusted earnings (including the fourth quarter), fueled by a strong coatings portfolio, broad global footprint, prudent cash deployment and measurable results from the strategic actions.

Profit from continued operation (as reported) was $254 million or $1.78 per share in the fourth quarter, surging roughly 33% from $191 million or $1.23 per share posted in the prior-year quarter. Healthy results in the fourth quarter were also backed by continuing operating and cost discipline coupled with a higher level of organic sales growth.