This morning, Seeking Alpha reported PPG Industries (NYSE: PPG) was being sold off 9% due to a warning about their Q3 EPS forecast. I recently did anarticle on PPG in July, in which I discussed their value prospects. With the stock down ~9% since then, I would like to take another look at their future, and see if this represents an opportunity, or if investors should stay away.

In a release today on PPG's website, quarterly earnings for Q3 2016 were revised to its first loss since 2009. The company is now expecting earnings to come in between a loss of $0.74 and $0.77 per share compared to a positive $1.52 per share in this quarter last year. This news was not received well, since earnings were expected to be ~$1.71 per share for the quarter. The reason for this sudden loss is a one-time writedown of pension settlement charges that totaled $2.31 per share. Outside of this one-time charge, earnings per share would come in between $1.54-$1.57, for a 1-3% increase in earnings YOY. This is still well below analysts' estimates of a 12.5% increase.

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