PPG INDUSTRIES INC SEC 10-Q Report

PPG Industries Inc., a leading global supplier of paints, coatings, and specialty materials, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, highlighting key metrics and strategic initiatives undertaken during the period.

Financial Highlights

• Net Sales: $4,195 million, a decrease of 0.9% compared to the prior year, primarily due to divestitures and partially offset by higher selling prices and sales volumes.
• Cost of Sales, Exclusive of Depreciation and Amortization: $2,432 million, a decrease of 0.7% primarily due to the impact of divestitures and increased manufacturing productivity, partially offset by raw material and other cost inflation.
• Income Before Income Taxes: $598 million, a decrease of $53 million compared to the prior year, primarily due to the unfavorable impact of raw material, wage, and other cost inflation and the impact of divestitures.
• Net Income (attributable to PPG): $450 million, reflecting the impact of divestitures and cost control measures.
• Earnings Per Common Share (attributable to PPG) - assuming dilution: $1.98, a decrease of 5.3% compared to the prior year, primarily due to cost inflation and divestitures, partially offset by increased manufacturing productivity.

Business Highlights

• Revenue Segments:
  • The Global Architectural Coatings segment reported net sales of $1,018 million for the three months ended June 30, 2025, with a decrease primarily due to divestitures.
  • The Performance Coatings segment achieved net sales of $1,512 million, reflecting growth in the United States and Canada.
  • The Industrial Coatings segment recorded net sales of $1,665 million, with a decline attributed to lower sales in the United States and Canada.
• Geographical Performance:
  • In the United States and Canada, net sales increased by 1% for the three months ended June 30, 2025, driven by higher selling prices and sales volumes.
  • In the EMEA region, net sales decreased by 1.4% due to unfavorable foreign currency translation and divestitures.
  • The Asia Pacific region saw a 1% decline in net sales, while Latin America experienced a 4.9% decrease, impacted by divestitures and economic conditions.
• Sales Units:
  • The Performance Coatings segment saw increased sales volumes in the United States and Canada, contributing to its overall growth.
  • The Industrial Coatings segment experienced a decline in sales volumes, particularly in the United States and Canada.
• Operational Efficiency: The company improved manufacturing productivity and implemented cost control measures, which partially offset the unfavorable impact of raw material, wage, and other cost inflation.
• Future Outlook: Management anticipates continued focus on enhancing manufacturing productivity and cost control measures to mitigate inflationary pressures. The company is also assessing the impact of recent divestitures on its operational performance and exploring opportunities for growth in key markets.

SEC Filing: PPG INDUSTRIES INC [ PPG ] - 10-Q - Jul. 30, 2025