RTTNews | Jul 20, 2021 10:46AM EDT

10:45 Tuesday, July 20, 2021 (RTTNews.com) - Shares of PPG Industries, Inc. (PPG) are trading 5% lower on Tuesday after its earnings failed to match the analysts’ estimates in the second quarter.

The net income for the company was $431 million or $1.80 per share, up from $102 million or $0.43 per share in the same quarter last year. Excluding special items, the share earnings were $1.94 per share. Nineteen analysts polled by Thomson Reuters expected earnings of $2.2 per share. Analysts usually leave out one-time items while projecting.

The company's revenue saw a 44% hike to $4.36 billion from $3.02 billion in the prior year. Thirteen analysts gave a consensus estimate of $4.33 billion.

The shares are currently trading hands at $158.12, down $7.63 or 4.60% from their previous closing at $165.75 on Monday. The shares opened at $154.80 in the morning and in the 52-week period, the shares have ranged between $105.94 and $182.97

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