PPG Industries said net sales for the 3 months ended September 30, 2024 were about $4.6 billion, down 1.5% from the prior year, and income before income taxes was $611 million, up $54 million from the prior year.

1. 01

   PPG Industries said net sales for the 3 months ended September 30, 2024 were about $4.6 billion, down 1.5% from the prior year, and income before income taxes was $611 million, up $54 million from the prior year.

2. 02

   The company said segment income for Performance Coatings in Q3 was $513 million, up 13% from the prior year, while Industrial Coatings segment income fell $47 million from the prior year.

3. 03

   The company said cash from operating activities for the 9 months ended September 2024 was $1,074 million, a decrease of $439 million, and cash used for investing activities was $511 million. It expects total capital spending of about $650 million to $700 million in 2024.

4. 04

   The company said it agreed in Q3 to sell its global silicas business to QEMETICA S.A. for about $310 million in pre-tax proceeds. It also announced on October 17, 2024 a definitive agreement to sell its architectural coatings business in the U.S. and Canada to American Industrial Partners at a transaction value of about $550 million.

Key figures

Quarter ended September 30, 2024

Revenue

$4.6B

Operating income

$712M

Net income

$468M

EPS

$2.00

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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