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    Home > Chemicals Industry > International Chemical > PPG achieves record sales in a row

    PPG achieves record sales in a row

    • Last Update: 2022-09-22
    • Source: Internet
    • Author: User
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      On July 21, PPG announced its financial results for the second quarter of 2022
    .
    The financial report shows that in the second quarter of this year, the company’s net sales were $4.
    7 billion, an increase of about 8% year-on-year, and the seventh consecutive quarter to achieve record quarterly sales; net profit was $440 million, a year-on-year increase of 3%

    .
    In addition, PPG's organic sales rose 8% in the second quarter, and were up 15% over two years, driven by higher selling prices

    .

      PPG delivered sales growth despite weak consumer demand in Europe, combined with severe disruptions from the global pandemic and unfavorable currency translation
    .
    Michael H.
    McGarry, Chairman and Chief Executive Officer of PPG, said: "We achieved record quarterly sales for the seventh consecutive quarter, driven by our continued implementation of real-time sales price increases to fully offset inflation and from recent acquisitions In

    addition, while overall industry demand remains well below pre-pandemic levels, our Aerospace Coatings business has achieved double-digit sales growth and is gaining momentum
    .

      Looking ahead to this year, McGarry is confident: "Potential demand for PPG products in most major regions and end markets is expected to remain stable
    .
    Several of our major business areas are expected to experience strong growth in the second half of the year

    .
    "



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