Financial Performance - Net sales for 2022 increased to $17,652 million, up 5.06% from $16,802 million in 2021 [223]. - Net income attributable to PPG for 2022 was $1,026 million, a decrease of 28.8% compared to $1,439 million in 2021 [223]. - Earnings per share from continuing operations, net of tax, was $4.35 in 2022, down 27.6% from $5.98 in 2021 [223]. - Total comprehensive income for 2022 was $981 million, a decline of 24.8% from $1,304 million in 2021 [224]. - Cash from operating activities decreased to $963 million in 2022 from $1,562 million in 2021, reflecting a decline of 38.4% [229]. Assets and Liabilities - Total current assets rose to $7,173 million in 2022, up from $6,774 million in 2021 [225]. - Total liabilities decreased to $14,035 million in 2022, down from $14,940 million in 2021 [225]. - Shareholders' equity attributable to PPG increased to $6,592 million in 2022, compared to $6,286 million in 2021 [225]. - As of December 31, 2022, total receivables amounted to $3,303 million, an increase from $3,152 million in 2021 [279]. - The company's total inventories were valued at $2,272 million as of December 31, 2022, compared to $2,171 million in 2021 [279]. Cash Flow and Investments - Cash and cash equivalents increased to $1,099 million in 2022, compared to $1,005 million in 2021 [225]. - Cash used for investing activities was $461 million in 2022, a significant decrease from $2,404 million in 2021 [229]. - The net increase in cash and cash equivalents for 2022 was $94 million, contrasting with a decrease of $821 million in 2021 [229]. - The company paid dividends totaling $570 million in 2022, compared to $536 million in 2021, marking a 6.3% increase [229]. - Capital expenditures increased to $518 million in 2022 from $371 million in 2021, reflecting a 39.7% rise [229]. Impairment and Charges - The company reported an impairment and other related charges of $245 million in 2022, significantly higher than $21 million in 2021 [223]. - The company recorded impairment charges of $124 million related to indefinite-lived intangible assets and $23 million for definite-lived intangible assets due to the impact of the Ukraine conflict [256]. - In Q1 2022, the company recognized $290 million in impairment and other related charges, including $201 million for long-lived asset impairment and $89 million for other related charges due to the impact of the Russian invasion of Ukraine [290]. - The long-lived asset impairment charges included $124 million related to indefinite-lived intangible assets, $54 million for property, plant, and equipment, and $23 million for definite-lived intangible assets [291]. - The company reported a total of $245 million in impairment and other related charges in 2022, compared to $21 million in 2021 [229]. Debt and Financing - PPG had non-U.S. dollar denominated debt outstanding of $2.6 billion as of December 31, 2022, compared to $1.6 billion in 2021 [202]. - The company’s long-term debt increased to $6.806 billion in 2022 from $6.575 billion in 2021, with a weighted average interest rate of 4.4% [304]. - As of December 31, 2022, PPG had outstanding borrowings of $1.1 billion under the Term Loan Credit Agreement, down from $1.4 billion in 2021 [309]. - PPG's Credit Agreement provides for a $2.2 billion unsecured revolving credit facility, with no amounts outstanding as of December 31, 2022 [314]. - Long-term debt maturities include $303 million in 2023 and $1.396 billion in 2024 [321]. Currency and Interest Rate Exposure - A 10% increase in the value of the euro to the U.S. dollar would have reduced the fair value of PPG's U.S. dollar to euro cross currency swap contracts by $73 million as of December 31, 2022 [201]. - A weakening of the U.S. dollar by 10% against European currencies would have resulted in unrealized translation losses of $293 million as of December 31, 2022 [202]. - The fair value of foreign currency forward contracts was a net asset of $24 million as of December 31, 2022 [200]. - PPG uses interest rate swaps to manage exposure to changing interest rates, with a liability of $20 million for these swaps at December 31, 2022 [331]. - The indicative borrowing rate on a one-month, U.S. dollar denominated borrowing was 4.4% at December 31, 2022 [314]. Pension and Employee Benefits - The projected benefit obligation (PBO) for defined benefit pension plans decreased from $3.534 billion in 2021 to $2.386 billion in 2022, a reduction of approximately 32.5% [361]. - The accumulated benefit obligation (ABO) for all defined benefit pension plans was $2.3 billion as of December 31, 2022, down from $3.5 billion in 2021, representing a decline of 34.3% [361]. - The net periodic benefit cost for pensions in 2022 was a benefit of $18 million, compared to a cost of $14 million in 2021, indicating a positive shift in the financial position [365]. - The market value of plan assets decreased from $2.975 billion in 2021 to $1.974 billion in 2022, a decline of approximately 33.6% [361]. - The company recognized a non-cash pension settlement charge of $50 million in 2021 due to the purchase of group annuity contracts, which reduced pension projected benefit obligations by approximately $175 million [358]. Taxation - The total income tax expense for 2022 was $325 million, a decrease from $374 million in 2021 [346]. - The effective income tax rate for 2022 was 23.5%, an increase of 2.9% from the prior year [346]. - The total amount of unrecognized tax benefits as of December 31, 2022, was $145 million, down from $158 million in 2021 [354]. - The Company recognized a gain of $38 million in Other Comprehensive Income (OCI) related to cross currency swaps in 2022 [338]. - The Company had $4.6 billion of undistributed earnings from non-U.S. subsidiaries as of December 31, 2022 [351].

Tim Knavish, President and Chief Executive Officer Vince Morales, Senior Vice President and Chief Financial Officer John Bruno, Vice President Investor Relations We protect and beautify the world® Forward-Looking Statements All of this information speaks only as of January 19, 2023, and any distribution of this presentation after that date is not intended and will not be construed as updating or confirming such information. PPG undertakes no obligation to update any forward-looking statement, except as othe ...

Financial Data and Key Metrics Changes - The company's Q4 2022 sales reached $4.2 billion, close to record levels from 2021, despite adverse foreign currency translation [9] - Adjusted earnings per diluted share from continuing operations were $1.22, exceeding the midpoint of the guidance provided in October [19] - For the full year 2022, the company achieved record sales of $17.7 billion, although it did not meet its own earnings expectations [24] Business Line Data and Key Metrics Changes - The automotive refinish coatings business gained over 2,000 net new body shop wins, indicating strong demand for its product technology and services [10] - The aerospace business experienced organic sales growth of over 20% year-over-year, driven by a recovering global order book and military-related growth [11] - PPG Comex in Mexico achieved record sales and earnings, surpassing $1 billion in annual sales [18] Market Data and Key Metrics Changes - In Europe, despite soft demand, earnings remained stable due to effective selling price realization and cost management [20] - The company anticipates coatings demand stabilization in Europe beginning in Q2, which is expected to result in higher year-over-year earnings [17] - The U.S. market is expected to benefit from the recovery of aerospace and automotive refinish businesses, supported by strong order books [17] Company Strategy and Development Direction - The company is focused on enhancing its relationship with Home Depot and has launched a new U.S. architectural Pro program [14] - PPG plans to introduce additional sustainable products and unveil new 2030 sustainability goals [16] - The company aims to recover its historical margin profile and achieve mid- to high-teen percentage segment margins [29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in 2022, including cost inflation, geopolitical issues, and supply chain disruptions, but expressed confidence in future earnings growth catalysts [13][25] - The company expects Q1 demand to remain similar to Q4, with potential improvements in supply chain and raw material costs flowing through to the P&L starting in Q2 [25] - Management remains cautious about the impact of a potential second wave of COVID-19 in China on Q1 performance [36][86] Other Important Information - The company has made progress in reducing SG&A as a percentage of sales, achieving a decrease of about 100 basis points [15] - PPG is actively working on cost savings initiatives, particularly in Europe, to address the challenging macroeconomic environment [21] Q&A Session Summary Question: Can the company achieve the consensus EPS target for the full year? - Management is focused on Q1 due to uncertainties but sees multiple potential earnings growth catalysts for 2023 [35] Question: What is the volume outlook for cyclical and less cyclical markets? - The biggest impact is expected from China, with a significant recovery anticipated starting in Q2 [37][39] Question: How is the pricing environment evolving? - The company has maintained pricing momentum, with an 11% increase in Q4 and expects additional price increases in Q1 [44] Question: How does the company view the U.S. architectural market? - The company sees a bifurcation in the market, with strong performance in commercial and maintenance segments despite a slowdown in DIY and new housing construction [48][50] Question: What are the expectations for raw material costs? - Management expects modest raw material deflation in Q1, with significant impacts on the P&L anticipated in Q2 [63][93] Question: How is the backlog in aerospace and other segments? - Aerospace backlogs are historically strong, and the company sees high backlogs in refinish and commercial segments as well [121]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ––––––––––––––––––––––––––––––––––––––––––––––––– FORM 10-Q ––––––––––––––––––––––––––––––––––––––––––––––––– ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 1-1687 ––––––––––––––– ...

PPG Industries, Inc. (NYSE:PPG) Q3 2022 Earnings Conference Call October 20, 2022 8:00 AM ET Company Participants John Bruno - Vice President, Investor Relations Michael McGarry - Chairman & Chief Executive Officer Tim Knavish - Incoming Chief Executive Officer & Chief Operating Officer Vince Morales - Senior Vice President & Chief Financial Officer Conference Call Participants Christopher Parkinson - Mizuho Ghansham Panjabi - Baird Josh Spector - UBS John McNulty - BMO Capital Markets Stephen Byrne - Bank ...

PPG employees transform 36 schools worldwide in July and August PPG INNOVEL® PRO coating launches Investment to double powder coatings capacity in San Juan del Rio Third Quarter 2022 Financial Results Michael H. McGarry, Chairman and CEO Tim M. Knavish, COO Vince J. Morales, CFO John Bruno, VP Investor Relations We protect and beautify the world® All content within is proprietary to PPG. Information current as of October 19, 2022. This presentation contains forward-looking statements that reflect the Compan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2022 WASHINGTON, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ ––––––––––––––––––––––––––––––––––––––––––––––––– FORM 10-Q ––––––––––––––––––––––––––––––––––––––––––––––––– Commission file number 1-1687 –––––––––––––––––––– ...

Financial Data and Key Metrics Changes - The company reported record net sales of $4.7 billion for Q2 2022, with adjusted earnings per diluted share from continuing operations at $1.81 [8][9] - Selling prices increased by approximately 12% year-over-year, marking the 21st consecutive quarter of higher selling prices [15][29] - Adjusted earnings performance was toward the upper end of the April financial guidance, despite negative impacts from foreign currency translation [14][30] Business Line Data and Key Metrics Changes - The global automotive refinish, traffic solutions, and U.S. packaging coatings businesses each set all-time quarterly sales records in Q2 [12][19] - The Traffic Solutions business achieved 15% sales growth in Q2, benefiting from anticipated increased infrastructure spending [19] - The aerospace business saw improvements in domestic travel leading to higher aftermarket demand, with expectations for further growth [13] Market Data and Key Metrics Changes - Consumer demand in Europe softened, and COVID-related disruptions in China were longer than anticipated, negatively impacting sales [10][25] - The company expects strong sequential growth in Asia due to higher industrial production compared to Q2, which was heavily impacted by COVID restrictions [25] - Economic conditions in Europe are expected to remain soft, with double-digit declines projected in certain markets [26][43] Company Strategy and Development Direction - The company is focused on cost mitigation initiatives in Europe due to slower demand and has contingency plans for a broader economic slowdown [18][23] - PPG is advancing its sustainability strategy, committing to near-term company-wide emission reductions in line with climate science [24] - The company plans to continue cash deployment in the most accretive manner for shareholders, including stock buybacks and debt reduction [22][74] Management's Comments on Operating Environment and Future Outlook - Management remains confident about future earnings capabilities, citing strong underlying demand for PPG products in most major regions [25][31] - The company anticipates that supply chain conditions will continue to improve, with better raw material and transportation availability [27][28] - Management expects sequential quarterly momentum on operating margin improvement to continue, despite significant unfavorable currency impacts [30][31] Other Important Information - The company repurchased $135 million of its stock during the quarter at attractive prices [22] - Corporate governance was enhanced with the necessary shareholder vote threshold for Board declassification and elimination of supermajority voting requirements [23] - The company is closely monitoring the COVID situation in China, expecting minimal impact on sales and operations from any further restrictions [25] Q&A Session Summary Question: Has the path to $9 of EPS in 2023 been pushed out due to the current economic backdrop? - Management acknowledged challenges but remains confident in the outlook due to strong demand in refinish and aerospace sectors, along with synergies and cash deployment options [36] Question: How do you view the current business cycle in a continued slowdown scenario, especially in Europe? - Management noted that full employment in the U.S. may sustain consumer spending, while they are less worried about gas rationing in Europe due to the importance of the automotive and chemical businesses [40][41] Question: Can you comment on the current raw material supply situation in Europe? - Management indicated that raw material supply is improving, with some rotation of raw materials from China to Europe anticipated [42] Question: What are the key highlights regarding margin outlook and pricing? - Management expects significant improvements in margins due to better manufacturing schedules and improved pricing dynamics, with a focus on maintaining pricing despite raw material declines [46][50] Question: How do you expect the European DIY market to perform in a recession? - Management reported a double-digit decline in DIY volumes in Europe, with expectations for continued weakness, while trade volumes remain stronger [67][68] Question: What is the outlook for M&A activity? - Management stated that the M&A pipeline remains steady, with ongoing evaluations of portfolio options, including potential acquisitions and divestitures [73][74] Question: How is the company managing raw material inventories and sourcing? - Management is being conservative with inventories in Europe while also planning to destock as raw material availability improves [78] Question: How resilient is the current portfolio in a potential recession? - Management believes the company has built a more resilient portfolio, with strong demand in traffic solutions and a significant deficit in automotive and aerospace sectors [95][99]

Second Quarter 2022 Financial Results Michael H. McGarry, Chairman and CEO Tim M. Knavish, COO Vince J. Morales, CFO John Bruno, VP Investor Relations We protect and beautify the world® All content within is proprietary to PPG. Information current as of July 21, 2022. 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 ...

Financial Data and Key Metrics Changes - The company reported record net sales of $4.3 billion for Q1 2022, with adjusted earnings per diluted share from continuing operations at $1.37, significantly above the upper end of January guidance [18][21][29] - Selling prices increased by 10% year-over-year, marking the 20th consecutive quarter of higher selling prices, with a 12% increase on a 2-year stack basis compared to Q1 2020 [22][25] - The company experienced a sequential margin improvement of over 200 basis points compared to Q4 2021, with expectations for continued improvement in Q2 [25][26] Business Line Data and Key Metrics Changes - The automotive refinish business saw strong sales volumes in the U.S. and Europe, contributing positively to overall performance [20] - The aerospace business benefited from year-over-year improvements, with expectations for further industry demand growth as it remains below pre-pandemic levels [20] - The Traffic Solutions business achieved over 10% sales growth, with record sales in Q1 and a large order backlog entering Q2 [23][80] Market Data and Key Metrics Changes - Sales in Latin America reached a record high during the quarter, driven by strong demand [19] - The company noted that DIY sales in Europe were a concern, while the Pro Painter backlog remained strong [45][46] - The company is optimistic about recovery in the automotive market, particularly in Europe, as consumers shift towards electric vehicles [43] Company Strategy and Development Direction - The company is focusing on real-time pricing strategies to combat inflation, with plans to implement further price increases in Q2 [26][33] - The acquisition of Arsonsisi's Powder Coatings business aligns with the company's strategy to grow its powder coatings manufacturing capabilities [29] - The company is committed to advancing its ESG program, having issued its inaugural DE&I report [30] Management's Comments on Operating Environment and Future Outlook - The management highlighted ongoing uncertainties due to the Ukraine-Russia crisis and COVID-19 restrictions in China, which have impacted regional demand [14][31] - Despite these challenges, the company expects to see improvements in supply chain disruptions and inventory rebuilding as the year progresses [34] - The management remains confident in achieving earnings catalysts and returning to prior peak operating margins [34][35] Other Important Information - The company recorded a pre-tax charge of $290 million for impairment of assets related to its Russian operations, which represented approximately 1% of total net sales for 2021 [12] - The company is experiencing raw material shortages, with an overall sales backlog growing to about $180 million [27] Q&A Session Summary Question: Can you provide an update on inflation outlooks and input shortages? - Management noted that input shortages remain consistent, with improvements in reliability in Europe and Asia, and a decrease in force majeures from over 100 to about 50 [38] Question: What is the demand and supply chain situation in Europe and China? - Management indicated that the automotive situation in China is being impacted but is expected to recover, while DIY sales in Europe are a concern [43][46] Question: Are there any competitive pricing pressures in the U.S. architectural market? - Management stated that they have not seen discounting in the market and are successfully implementing price increases [52] Question: How is the relationship with Home Depot progressing? - The company has stocked 60% of Home Depot stores and expects to ramp up availability as supply improves [60][62] Question: What are the expectations for EPS in 2023? - Management remains confident in achieving EPS greater than $9, supported by improving market conditions and pricing strategies [72] Question: How is the automotive OEM business performing? - Management reported improvements in operational efficiencies and noted strong demand for electric vehicle applications [100]