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PPG Industries (PPG)
NYSE:PPG
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.65Last Year’s EPS
1.53Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 18, 2018
|% Change Since: -7.27%
|Next Earnings Date:Jul 19, 2018
Earnings Call Sentiment|Positive
PPG delivered a strong financial performance with record third-quarter adjusted EPS, driven by excellent results in segments like Aerospace Coatings. Successful divestitures and a restructuring program further optimized the company's portfolio. However, challenges in the global auto OEM and industrial production sectors negatively impacted demand and constrained growth in some segments.Company Guidance
During the third quarter 2024 earnings call for PPG, guidance provided highlighted a number of key metrics. The company reported sales of $4.6 billion and achieved record third quarter adjusted earnings per diluted share of $2.13, marking a 3% year-over-year growth. Despite a higher tax rate impacting EPS by $0.08 or 4%, PPG experienced an eighth consecutive quarter of year-over-year segment margin improvement. The Performance Coatings segment saw a 2% increase in sales volume, with notable growth in automotive refinish and aerospace coatings, which delivered record quarterly sales and ended the quarter with an order backlog of approximately $290 million. The company also completed $200 million in share repurchases and paid $160 million in dividends during the quarter. Moving forward, PPG expects raw material costs to remain flat year-over-year in the fourth quarter and plans to execute a comprehensive restructuring program projected to deliver $175 million once fully implemented, with $60 million expected in 2025. The company anticipates closing the sale of its silicas products business for approximately $310 million and its Architectural Coatings U.S. and Canada business for $550 million by late Q4 or early 2025, which is expected to improve sales volume results by over 200 basis points on a pro forma basis.Record Third Quarter Adjusted EPS
PPG reported a record third quarter adjusted earnings per diluted share of $2.13, representing a year-over-year growth of 3%, despite an unfavorable impact from a higher year-over-year tax rate.
Strong Performance in Aerospace Coatings
PPG's Aerospace Coatings business delivered record quarterly sales with double-digit percentage organic sales growth, ending the quarter with an order backlog of approximately $290 million.
Successful Divestitures
PPG reached definitive agreements to sell its silicas products business for approximately $310 million and its Architectural Coatings U.S. and Canada business for $550 million, optimizing its portfolio.
Restructuring Program Announced
PPG announced a comprehensive restructuring program to deliver approximately $175 million in savings, including $60 million in 2025.
Cash Flow and Shareholder Returns
PPG returned approximately $1 billion to shareholders through dividends and share repurchases on a year-to-date basis, supported by consistent cash flow generation.
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PPG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PPG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 16, 2024 | $129.66 | $130.65 | +0.76% |
| Jul 18, 2024 | $130.25 | $126.62 | -2.79% |
| Apr 18, 2024 | $132.96 | $128.82 | -3.11% |
| Jan 18, 2024 | $141.98 | $138.50 | -2.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does PPG Industries (PPG) report earnings?
PPG Industries (PPG) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is PPG Industries (PPG) earnings time?
PPG Industries (PPG) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PPG EPS forecast?
PPG EPS forecast for the fiscal quarter 2024 (Q4) is 1.65.
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