PPG Industries beats quarterly profit estimates, raises FY earnings forecast

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New vehicle sales in the United States had risen in the reported quarter on improving supply and steady demand, leading to increasing demand for coatings and...

- PPG Industries on Wednesday beat Wall Street estimates for third-quarter profit and raised its full-year earnings outlook, as high sales volumes in the automotive and aerospace sector helped boost coatings sales at the company.New vehicle sales in the United States had risen in the reported quarter on improving supply and steady demand, leading to increasing demand for coatings and furnishings materials.

The company said its industrial coatings income rose 28% to $246 million in the reported quarter from a year ago, helped by higher selling price and lower costs. PPG raised its full-year 2023 earnings forecast to a range of $7.58 and $7.64 per share from $7.28 to $7.48 per share, higher than analysts' average estimate of $7.49.TFSA: Invest in These 2 Stocks for a Real Shot at $1 Million

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