Strong Performance in Aerospace Coatings
Aerospace delivered high single-digit percentage organic sales growth with record quarterly sales and earnings. Customer order backlogs were stable at about $300 million.
Protective & Marine Coatings Growth
Delivered double-digit percentage organic sales growth, supported by increasing global demand and recent share gains, marking the ninth consecutive quarter with positive year-over-year sales volume growth.
Packaging Coatings Organic Sales Increase
Packaging Coatings saw organic sales increase by a high single-digit percentage year-over-year, driven by share gains significantly above industry rates.
Shareholder Value Initiatives
The company repurchased approximately $150 million of stock during the quarter, bringing the year-to-date total to $540 million, and raised the quarterly dividend per share by 4%.
Strong Performance Coatings Segment
The Performance Coatings segment delivered record net sales and earnings with a 6% increase in organic sales.