PPG Industries said net sales for the three months ended March 31, 2025 were approximately $3.7 billion, a decrease of 4.3% compared to the prior year, and income before income taxes was $502 million, a decrease of $40 million compared to the prior year.

1. 01

   PPG Industries said net sales for the three months ended March 31, 2025 were approximately $3.7 billion, a decrease of 4.3% compared to the prior year, and income before income taxes was $502 million, a decrease of $40 million compared to the prior year.

2. 02

   The company cited the unfavorable impact of foreign currency translation, the divestiture of the global silicas business and the traffic solutions business in Argentina in 2024, and the divestiture of the remaining Russia business in Q1 2025 as factors in the net sales decrease, partially offset by higher sales volumes. It said the income before income taxes decrease was primarily due to the unfavorable impact of foreign currency translation and material, wage and other cost inflation, partially offset by higher selling prices.

3. 03

   PPG said segment income for Q1 2025 was $118 million for Global Architectural Coatings, a decrease of 29% year over year, $274 million for Performance Coatings, an increase of 9%, and $215 million for Industrial Coatings, a decrease of 14%.

4. 04

   The company said cash used for operating activities from continuing operations for the three months ended March 31, 2025 was $16 million and cash from financing activities was $698 million. Cash and short-term investments were $1.9 billion as of March 31, 2025 and $1.4 billion as of December 31, 2024.

Key figures

Quarter ended March 31, 2025

Revenue

$3.7B

Operating income

$607M

Net income

$373M

EPS

$1.63

Operating cash flow

−$18M

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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