Financial Performance - Net sales for the three months ended March 31, 2025, were approximately $3.7 billion, a decrease of 4.3% compared to the prior year, primarily due to unfavorable foreign currency translation and divestitures [116]. - Income before income taxes was $502 million, a decrease of $40 million year-over-year, mainly due to foreign currency translation impacts and cost inflation [117]. - The effective tax rate for the three months ended March 31, 2025, was 24.3%, compared to 23.6% in the prior year [126]. - Earnings per diluted share from continuing operations decreased to $1.64, down 4.1% from $1.71 in the prior year [126]. Segment Performance - Global Architectural Coatings net sales decreased by 11.3% to $857 million, with segment income down 28.9% to $118 million [131]. - Performance Coatings net sales increased by 6.8% to $1.265 billion, with segment income rising 9.2% to $274 million [138]. - Industrial Coatings segment net sales decreased by 8.1% to $1,562 million in Q1 2025 compared to $1,699 million in Q1 2024 [146]. - Automotive OEM coatings organic sales decreased by a mid-single-digit percentage in Q1 2025 due to lower sales volumes and indexed-based selling prices [147]. - Packaging coatings organic sales increased by a low single-digit percentage compared to the prior year, driven by higher sales volumes in Europe, Latin America, and Asia Pacific [149]. - Specialty coatings and materials organic sales increased by a mid-single-digit percentage compared to Q1 2024, with segment income at $215 million, a decrease of 14% year-over-year [150]. Sales Expectations - Organic sales in the Performance Coatings segment are expected to continue growing in the second quarter of 2025, driven by industry growth and share gains [141]. - The company anticipates aggregate organic sales for the Global Architectural Coatings segment to be flat to a low single-digit percentage increase compared to the second quarter of 2024 [137]. - In the second quarter, aggregate organic sales for the aerospace coatings and protective and marine coatings segments are expected to increase by a low to mid-single-digit percentage compared to Q2 2024 [144]. Cash and Investments - Cash and short-term investments totaled $1.9 billion as of March 31, 2025, up from $1.4 billion at December 31, 2024 [154]. - Cash used for operating activities in Q1 2025 was $16 million, compared to cash from operating activities of $7 million in Q1 2024, reflecting unfavorable changes in working capital [155]. Capital Expenditures and Restructuring - Total capital spending is expected to be approximately $725 million to $775 million in 2025 to support future organic growth opportunities [159]. - The Company expects total restructuring savings of $75 million in 2025, with cash outlays related to these actions projected at approximately $100 million [166]. Debt and Financial Risk - As of March 31, 2025, the Total Indebtedness to Total Capitalization ratio was 50%, within the required limit of 60% [163]. - As of March 31, 2025, PPG had non-U.S. dollar denominated borrowings of $4.8 billion, up from $3.3 billion as of December 31, 2024 [181]. - The fair value of foreign currency forward contracts was a net liability of $31 million as of March 31, 2025, compared to $53 million as of December 31, 2024 [179]. - A 10% increase in the value of the euro to the U.S. dollar would reduce the fair value of PPG's cross currency swap contracts by $36 million as of March 31, 2025 [180]. - A weakening of the U.S. dollar by 10% against European currencies would result in unrealized translation losses of $530 million at March 31, 2025 [181]. - PPG's interest rate swaps converted $375 million of fixed rate debt to variable rate debt, with fair values of liabilities at $11 million as of March 31, 2025 [182]. - An increase in variable interest rates of 10% would increase annual interest expense by $4 million for the period ended March 31, 2025 [182]. - The potential reduction in PPG's income before income taxes from adverse changes in exchange rates was $479 million for the three months ended March 31, 2025 [179]. - The fair value of cross currency swap contracts was a net asset of $39 million as of March 31, 2025, down from $50 million as of December 31, 2024 [180]. - A 10% increase in interest rates in the U.S., Canada, Mexico, and Europe would increase annual interest expense by $4 million [182]. - There were no material changes in the Company's exposure to market risk from December 31, 2024, to March 31, 2025 [183].

Shares in paints and coatings company PPG (PPG 4.54%) rose by as much as 6.1% in early trading today as investors cheered its first-quarter earnings report and full-year guidance. Given the pressure on the economy due to the uncertainty around tariffs, any company that merely restates its full-year guidance must be looked at positively.A mixed quarter for PPGManagement reiterated guidance for adjusted earnings per share (EPS) of $7.75-$8.05, as an improvement in its performance coatings segment is more than ...

Financial Data and Key Metrics Changes - The company reported sales of $3.7 billion for Q1 2025, a decrease of 4% compared to Q1 2024, primarily due to unfavorable foreign currency translation and business divestitures [7][9] - The first quarter segment EBITDA margin was 19.4%, and adjusted earnings per diluted share was $1.72 [9] - Approximately $400 million of stock was repurchased during the quarter, maintaining a strong balance sheet [9][20] Business Line Data and Key Metrics Changes - In the Global Architectural Coatings segment, net sales were significantly impacted by unfavorable foreign currency translation, decreasing sales by 7% [11] - Performance Coatings segment saw a 9% increase in organic sales, with double-digit growth in Aerospace [13] - Industrial Coatings segment net sales declined due to foreign currency translation and divestiture impacts, with organic sales down less than 2% [16][17] Market Data and Key Metrics Changes - Organic sales growth in Asia was driven by strong performance in China, India, and Vietnam [7] - The U.S. achieved 4% organic sales growth after six quarters of declines, while European organic sales were down 1%, showing improvement compared to prior quarters [8] - Latin America saw slight organic sales growth, tempered by geopolitical uncertainties [8] Company Strategy and Development Direction - The company is focused on executing its enterprise growth strategy launched in 2023, optimizing its portfolio, and investing in innovation [9][10] - PPG aims to navigate the current economic conditions by leveraging its diversified global business portfolio and flexible manufacturing processes [21][22] - The company is committed to driving shareholder value through disciplined capital allocation and share repurchases [20][86] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate uncertainties due to its structural advantages and strong cash generation capabilities [22][24] - The company anticipates project spending in Mexico to resume as economic conditions stabilize, despite current pauses [32][33] - Management reaffirmed full-year earnings per share guidance of $7.75 to $8.50, reflecting confidence in operational momentum and share gains [26][68] Other Important Information - The company issued €900 million of debt at 3.25% during the quarter, with upcoming euro debt maturities [19] - Management highlighted the importance of monitoring customer order patterns and adjusting operations accordingly in response to macroeconomic changes [22][24] Q&A Session Summary Question: How do you expect margins to trend in Q2 for Global Architectural? - Management expects margin recovery driven by sequential volume improvement and positive pricing [28][29] Question: How much was the COMEX business down in Q1? - The business was impacted by a pause in project-related spending, but core retail sales remained solid [30][31] Question: What is happening in the Refinish industry? - The lumpiness in sales is due to the two-step distribution model, but pricing remains strong due to the value proposition offered [35][36] Question: Can you unpack the sales guidance for Global Architectural Coatings? - Management expects project pauses in Mexico to continue into Q2, but anticipates improvements in Europe [42][46] Question: What are the expectations for Performance Coatings volume this year? - Management is confident in achieving mid-single-digit growth due to strong performance across various business units [50][52] Question: What is the impact of tariffs on the company? - The company has minimal impact from tariffs due to its localized sourcing strategy and is prepared to adjust pricing as necessary [60][61] Question: What is the split between residential and commercial in the COMEX business? - The core business is mostly residential, with recent expansions into project business [115] Question: What is the updated full-year currency EPS headwind? - The company expects a $0.09 impact from currency in Q1, which will diminish in subsequent quarters [117]

PPG Industries (PPG) Q1 2025 Earnings Call April 30, 2025 08:00 AM ET Company Participants Alejandro Lopez Bustamante - Director - IRTimothy Knavish - CEO & ChairmanKevin McCarthy - PartnerMichael Sison - Managing DirectorVincent Morales - Senior VP & CFOJohn Roberts - Managing DirectorFrank Mitsch - PresidentChristopher Parkinson - Managing DirectorMichael Leithead - Director - Equity ResearchJosh Spector - Executive Director Conference Call Participants David Begleiter - AnalystDuffy Fischer - AnalystGhan ...

PPG Industries, Inc. (PPG) reported first-quarter 2025 profit of $396 million or $1.64 per share, down from $443 million or $1.71 per share in the year-ago quarter.Barring one-time items, adjusted earnings per share (EPS) fell to $1.72 from $1.87 in the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $1.62.The company’s revenues were $3,684 million in the reported quarter, down around 4% year over year. The downside can be attributed to unfavorable currency translations and business d ...

First Quarter 2025 Financial Results April 29, 2025 Forward-Looking Statements This presentation contains forward-looking statements that reflect the Company's current views with respect to future events and financial performance. You can identify forward-looking statements by the fact that they do not relate strictly to current or historic facts. Forward-looking statements are identified by the use of the words "aim," "believe," "expect," "anticipate," "intend," "estimate," "project," "outlook," "forecast" ...

For the quarter ended March 2025, PPG Industries (PPG) reported revenue of $3.68 billion, down 14.5% over the same period last year. EPS came in at $1.72, compared to $1.86 in the year-ago quarter.The reported revenue represents a surprise of +0.77% over the Zacks Consensus Estimate of $3.66 billion. With the consensus EPS estimate being $1.62, the EPS surprise was +6.17%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

PPG Industries (PPG) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.62 per share. This compares to earnings of $1.86 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.17%. A quarter ago, it was expected that this paint and coatings maker would post earnings of $1.65 per share when it actually produced earnings of $1.61, delivering a surprise of -2.42%.Over the last four quarters ...

News PPG Media Contact: Mark Silvey Corporate Communications +1-412-434-3046 silvey@ppg.com Exhibit 99 PPG Investor Contact: Alex Lopez Investor Relations +1-412-434-3466 alejandrolopez@ppg.com investor.ppg.com PPG reports first quarter 2025 financial results PITTSBURGH, April 29, 2025 – PPG (NYSE:PPG) today reported financial results for the first quarter 2025. (c) Includes an unfavorable year-over-year foreign currency translation impact of $0.09 and business divestitures impact of $0.03 Chairman and CEO ...

PPG Industries Inc. (PPG) is set to release first-quarter 2025 results after the closing bell on April 29. PPG Industries missed the Zacks Consensus Estimate for earnings in two of the trailing four quarters, beat once while delivering in-line results on the other occasion. It delivered a trailing four-quarter negative earnings surprise of around 0.6%, on average. While the company is expected to have benefited from acquisitions and restructuring cost savings in the first quarter, its performance is likely ...