PPG Industries sees Q3 adjusted EPS $1.54-$1.57, consensus $1.71
PPG announced that the third quarter 2016 reported loss per share from continuing operations is expected to be in the range of 74 cents to 77 cents compared to reported earnings per share from continuing operations of $1.52 in the third quarter 2015. Reported earnings include previously disclosed pension settlement charges that totaled $2.31 per share in third quarter 2016 and 2 cents per diluted share in the previous year. Adjusted earnings from continuing operations for the third quarter 2016 are expected to be in the range of $1.54 to $1.57 per share, compared to $1.54 per diluted share in the prior year's quarter. Net sales for the third quarter 2016 are expected to be approximately $3.8 billion. Consensus is $3.84B. Figures for both periods exclude results for the recently divested flat glass business, which are now reported as discontinued operations.