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 ...

PPG Industries Inc. (PPG) recently announced that its SEM Products business has launched a full line of performance abrasives aimed at simplifying complex automobile collision repairs while emphasizing technicians' demands. SEM Performance Abrasives are specifically tailored for each stage of the repair procedure. The product line includes precision grain technology, which is intended to provide rapid cutting, longevity and consistency across a wide range of repairs and substrates. SEM abrasives offer high ...