PPG Industries, Inc. (NYSE:PPG) Q4 2023 Earnings Conference Call January 19, 2024 8:00 AM ET Company Participants Jonathan Edwards - Director of IR Tim Knavish - President and CEO Vince Morales - SVP and CFO John Bruno - VP of Finance Conference Call Participants David Begleiter - Deutsche Bank John McNulty - BMO Ghansham Panjabi - Baird Duffy Fischer - Goldman Sachs Stephen Byrne - Bank of America/Merrill Lynch John Roberts - Mizuho Josh Spector - UBS Kevin McCarthy - VRP Michael Leithead - Barclays Jeff Z ...

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, 2023 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 2023 Earnings Conference Call October 19, 2023 8:00 AM ET Company Participants John Bruno - VP, IR Tim Knavish - President & CEO Vince Morales - SVP & CFO Conference Call Participants John McNulty - BMO Duffy Fischer - Goldman Sachs Ghansham Panjabi - Baird Christopher Parkinson - Mizuho Michael Leithead - Barclays Vincent Andrews - Morgan Stanley Stephen V. Byrne - Bank of America Jeffrey Zekauskas - JPMorgan Josh Spector - UBS David Begleiter - Deutsche Bank Kevin McCart ...

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: June 30, 2023 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) Q2 2023 Earnings Conference Call July 21, 2023 8:00 AM ET Company Participants John Bruno - VP of IR Tim Knavish - President and CEO Vince Morales - SVP and CFO Conference Call Participants Christopher Parkinson - Mizuho Ghansham Panjabi - Baird Josh Spector - UBS David Begleiter - Deutsche Bank Jeffrey Zekauskas - JPMorgan Stephen V. Byrne - Bank of America John McNulty - BMO Vincent Andrews - Morgan Stanley Duffy Fischer - Goldman Sachs Patrick Cunningham - Citigroup Michae ...

12 Reconciliation: ROS Segment Margin and Adjusted EPS Excluding Amortization | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------|-------|-------|-------------|-------|-------|-------|-------|-------------|-------|-------------------------------------------------------------------------------------------------|-------| | $ in millions, except ROS % \nPerformance Segment | Q1 | Q2 | 2021 \nQ3 | Q4 | FY | Q1 | Q2 | 2022 \nQ3 | Q4 | FY ...

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: March 31, 2023 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 ––––––––––––––––––– ...

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® 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 ...

PPG Industries, Inc. (NYSE:PPG) Q1 2023 Earnings Conference Call April 21, 2023 8:00 AM ET Company Participants John Bruno - VP, IR Timothy Knavish - President & CEO Vince Morales - SVP & CFO Conference Call Participants Duffy Fischer - Goldman Sachs Ghansham Panjabi - Baird Stephen Byrne - Bank of America Merrill Lynch John McNulty - BMO Christopher Parkinson - Mizuho David Begleiter - Deutsche Bank Jeff Zekauskas - JPMorgan Vincent Andrews - Morgan Stanley Josh Spector - UBS Aleksey Yefremov - KeyBanc Mic ...

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].