PPG Industries reports recent $300 million fourth-quarter earnings

(File Photo of the PPG Industries Inc. Logo)

PITTSBURGH (AP) — PPG Industries Inc. (PPG) on Tuesday reported fourth-quarter earnings of $300 million.

The Pittsburgh-based company said it had profit of $1.33 per share. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, came to $1.51 per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The paint and coatings maker posted revenue of $3.91 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $3.74 billion.

For the year, the company reported profit of $1.58 billion, or $6.94 per share. Revenue was reported as $15.88 billion.

PPG Industries expects full-year earnings in the range of $7.70 to $8.10 per share.