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Investing.com – PPG Industries (NYSE:PPG) reported on Thursday fourth quarter earnings and revenue that beat analysts’ forecasts despite ongoing supply disruptions and rising costs.
PPG Industries shares lost 3.3% in after-hours trading following the report.
PPG Industries announced earnings per share of $1.26 on revenue of $4.19 billion. Analysts polled by Investing.com anticipated EPS of $1.18 on revenue of $4.05 billion.
The beat on the bottom line comes even as the company reported that raw material cost inflation was up 30% year over year in the fourth quarter amid ongoing supply disruptions.
Looking ahead to the first quarter 2022, net sales volumes were expected to be down a mid-single-digit percentage on a year-over-year basis, the company said.
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