PPG has a good Q1
The first quarter of 2014 was kind to PPG Industries' top-line revenue and its profits.
Net sales for the three months ended March 31 were $3.64 billion, up 17.1% year-over-year.
Profit from continued operations was $277 million, up roughly 45% from $191 million in the first quarter of 2013.
“We achieved year-over-year global volume growth of 5%, our highest level in three years,” said Charles E. Bunch, PPG chairman and CEO. “Additionally, growth rates accelerated in each region versus recent quarters, including in Europe, where our volumes grew 5 percent as we benefited from the early stages of that region’s economic recovery."
Bunch added that the company experienced increased demand related to reductions in its cost structure, and that it had more than made up for the earnings from its recently divested businesses.