PPG industries Inc.
He said that weaker demand from industrial customers weighed on the results in the fourth quarter and warned of uncertain conditions by 2020.
The company, which supplies car manufacturers, aerospace companies and other manufacturers, has dealt with the slowdown in growth in key sectors. That challenge was carried out until the end of last year.
“We provide this solid performance despite the weakening of global manufacturing activity that impacted many of our end-use industrial markets,” said PPG’s chief executive.
He said in a statement.
PPG said it generated sales of $ 3.67 billion in the fourth quarter, in line with analyst expectations and a 0.7% increase over the previous year.
The company reported a profit of $ 292 million, or $ 1.22 per share, for the fourth quarter, compared to $ 258 million, or $ 1.08 per share, a year earlier. Its adjusted profit of $ 1.31 per share was 3 cents lower than analyst forecasts surveyed by FactSet.
PPG said sales could increase 1% to 3% this year after adjusting for currency fluctuations. The company also forecast adjusted earnings growth per share from 4% to 9%. The perspective reflects what McGarry called a higher level of uncertainty today.
Shares fell 5.5% in pre-market trade.
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