Core Viewpoint - PPG Industries reported mixed financial results for Q3 2024, with earnings per share increasing but revenues missing estimates, leading to a downward trend in stock performance and estimates [2][3][8]. Financial Performance - The company reported a profit of $468 million or $2 per share for Q3 2024, an increase from $426 million or $1.79 per share in the same quarter last year [2]. - Adjusted earnings per share rose to $2.13 from $2.07 year-over-year, but fell short of the Zacks Consensus Estimate of $2.15 [2]. - Revenues for the quarter were approximately $4.57 billion, down about 1.5% year-over-year, missing the Zacks Consensus Estimate of $4.65 billion [3]. Segment Review - The Performance Coatings segment saw revenues increase by 1.4% year-over-year to around $2.92 billion, driven by higher sales volumes and prices, with segment income climbing 13% [4]. - Conversely, the Industrial Coatings segment experienced a 6.2% decline in revenues to roughly $1.65 billion, attributed to lower sales volumes and selling prices, resulting in a 19% drop in segment income [5]. Financial Position - At the end of Q3, PPG Industries had approximately $1.25 billion in cash and cash equivalents, reflecting a 2.7% year-over-year increase [6]. - Long-term debt rose to around $6.14 billion, up from $5.6 billion in the prior-year quarter [6]. Outlook - The company anticipates flat organic sales and adjusted earnings per share at the lower end of the $8.15 to $8.30 range for the full year 2024 [7]. - There has been a downward trend in fresh estimates for the stock over the past month, indicating a negative outlook [8]. Investment Scores - PPG Industries currently holds a Growth Score of B but has a low Momentum Score of D, with an overall VGM Score of B, placing it in the middle 20% for investment strategies [9]. - The stock has a Zacks Rank of 4 (Sell), suggesting expectations of below-average returns in the coming months [9].

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, 2024 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 2/3 ––––––––––– ...

Financial Performance - The company reported sales of $4.6 billion for Q3 2024, marking the eighth consecutive quarter of year-over-year segment margin improvement [6] - Adjusted earnings per diluted share reached a record $2.13, representing a 3% year-over-year growth despite a higher tax rate impacting EPS by $0.08 or 4% [6] - Year-over-year sales volume growth was 2% in the Performance Coatings segment, driven by strong performance in Automotive Refinish and Aerospace Coatings [7][9] Business Segment Performance - The Performance Coatings segment saw above-market volume performance, particularly in Automotive Refinish, with high single-digit percentage increases in US collision-related products [7] - Aerospace Coatings achieved record quarterly sales with double-digit percentage organic sales growth, despite a backlog of approximately $290 million [7] - Architectural Coatings in Europe remained flat year-over-year, with growth in Central and Eastern Europe offset by declines in Western Europe [8] - The Industrial Coatings segment faced challenges due to a decline in global auto OEM and industrial production, leading to a mid-single-digit percentage decline in organic sales [9] Market Dynamics - The company experienced strong demand in Latin America and China, with double-digit percentage volume growth in Latin America and single-digit growth in China [9] - The automotive OEM industry faced unscheduled downtime, negatively impacting demand and sales [9] - The Packaging Coatings business achieved its third consecutive quarter of volume growth, driven by share gains [10] Strategic Direction - The company announced the sale of its silicas products business for approximately $310 million and the Architectural Coatings US and Canada business for $550 million, aimed at optimizing its portfolio [11][12] - A comprehensive restructuring program was introduced to eliminate stranded costs and rationalize the footprint, expected to deliver approximately $175 million in savings [13] - The company aims to build a sharper, more focused portfolio with higher growth and margin profiles, emphasizing cost management and productivity improvements [14] Management Commentary - Management expressed optimism about entering 2025 with a focused portfolio and higher growth potential, despite acknowledging ongoing macroeconomic challenges [20][34] - The company expects a modest uptick in automotive production in 2025, which could positively impact sales [52][66] - Management highlighted the importance of maintaining strong cash flow generation and financial flexibility to create shareholder value [10][21] Other Important Information - The company ended Q3 with approximately $1.3 billion in cash, having returned about $1 billion to shareholders through dividends and share repurchases year-to-date [10] - Raw material costs were flat year-over-year, with expectations for stability in the fourth quarter [10][36] Q&A Session Summary Question: Valuation multiple on the architectural deal - The sales of the architectural business are approximately $2 billion with a low single-digit EBITDA margin, resulting in a 14x multiple [17] Question: Growth algorithm for 2025 post-sale - Management is optimistic about volume growth potential in 2025, particularly in Performance Coatings, despite current macro challenges [20] Question: Outlook for industrial margins - The weakness in industrial margins was primarily driven by volume declines, particularly in auto OEM [22] Question: Proceeds from the architectural business sale - Expected cash proceeds from the architectural transaction are about $450 million [39] Question: Impact of raw material costs on 2025 - Raw material costs are expected to remain flat in Q4, with too early to provide guidance for 2025 [36] Question: Outlook for Aerospace business - Strong demand is projected for the Aerospace business, with high single-digit growth expected in Q4 and continued momentum into 2025 [56][60]

Core Insights - American Industrial Partners (AIP) has entered into a definitive agreement to acquire PPG's architectural coatings business in the U.S. and Canada, which generated approximately $2 billion in revenue in 2023 [1][2] - The transaction is expected to close in late 2024 or early 2025, pending customary closing conditions [1] - AIP aims to leverage its operational expertise and customer focus to enhance the architectural coatings business and expand into new markets [3] Company Overview - PPG's architectural coatings business is a leading producer of various paint and coating products, including interior and exterior paints, stains, and adhesives, with a strong market presence and iconic brands such as GLIDDEN® and DULUX® [2] - The business employs over 6,000 individuals across its U.S. and Canadian facilities, which include 750 company-owned stores [2] - AIP manages approximately $16 billion in assets and focuses on industrial businesses across diverse markets, aiming to generate differentiated returns through strategic investments [4]

PPG Industries, Inc. (PPG) reported a third-quarter 2024 profit of $468 million or $2 per share, up from $426 million or $1.79 per share in the year-ago quarter. In the reported quarter, excluding one-time items, adjusted earnings per share increased to $2.13 from $2.07 in the year-ago quarter, missing the Zacks Consensus Estimate of $2.15. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. The company's revenues were $4,575 million in the quarter, down roughly 1.5% year over year. The ...

PPG Industries (PPG) reported $4.58 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 1.5%. EPS of $2.13 for the same period compares to $2.07 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $4.65 billion, representing a surprise of -1.67%. The company delivered an EPS surprise of -0.93%, with the consensus EPS estimate being $2.15. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

PPG Industries (PPG) came out with quarterly earnings of $2.13 per share, missing the Zacks Consensus Estimate of $2.15 per share. This compares to earnings of $2.07 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -0.93%. A quarter ago, it was expected that this paint and coatings maker would post earnings of $2.48 per share when it actually produced earnings of $2.50, delivering a surprise of 0.81%. Over the last four quarte ...

Exhibit 99 News PPG Media Contact: Mark Silvey Corporate Communications +1-412-434-3046 silvey@ppg.com PPG Investor Contact: Alex Lopez Investor Relations +1-412-434-3466 alejandrolopez@ppg.com investor.ppg.com PPG reports third quarter 2024 financial results • Record reported earnings per diluted share (EPS) of $2.00 and adjusted EPS of $2.13 • Net sales of $4.6 billion; organic sales flat versus prior year • Segment margins improved 60 basis points year over year, marking eight consecutive quarters of mar ...

PPG Industries Inc. (PPG) is set to release third-quarter 2024 results after the closing bell on Oct. 16. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. PPG Industries beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters while delivering in-line results on the other occasion. It has a trailing four-quarter earnings surprise of around 2.2%, on average. The paint giant is expected to have benefited from acquisitions, pricing actions and restructuring ...

Wall Street analysts forecast that PPG Industries (PPG) will report quarterly earnings of $2.15 per share in its upcoming release, pointing to a year-over-year increase of 3.9%. It is anticipated that revenues will amount to $4.65 billion, exhibiting an increase of 0.2% compared to the year-ago quarter. The current level reflects a downward revision of 0.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised ...