If I don’t understand something, I’ll just ask: Will the U.S. dollar exchange rate continue rising? Is it possible it could reach 7.5?

If you think Barclays is an expert, go long on the U.S. dollar; if you think it’s a clown, go long on the RMB. But even a three-month forward target of 7.4 feels somewhat unrealistic to me.

PPG’s full-year revenue remained flat at $15.9 billion, while net profit surged 17% to $1.6 billion.

On January 27, PPG announced its financial results for the fourth quarter and full year 2025. For the full year 2025, the company achieved net sales of $15.875 billion—flat year-on-year—driven by increases in both sales volume and pricing, as well as favorable foreign exchange translation effects; however, the impact of business divestitures was also significant. Sales price increased by 1%, though part of this gain was offset by reductions in index-based pricing. Sales volume rose 1% year-on-year, with notable growth in the high-performance coatings segment—including aerospace coatings, protective coatings, marine coatings, and transportation solutions—as well as increased market share in the industrial coatings segment across automotive OEM coatings, industrial coatings, and packaging coatings. However, declines in the automotive refinish coatings business and the global architectural coatings segment partially offset these gains. PPG Industrial’s Full-Year 2025 Operating Performance For the full year 2025, the group reported EBITDA of $2.631 billion, up 9.26% year-on-year. Operating profit totaled $1.587 billion, up 15.25%; net income reached $1.571 billion, up 17%. Net profit margin improved from 8.5% in the prior year to 9.9%. Adjusted net income amounted to $1.722 billion, down 7.0% year-on-year. Amid a challenging macroeconomic environment, the company posted earnings per share (EPS) of $6.92 for 2025, and adjusted EPS of $7.58—a 4% decline year-on-year. EBITDA margins across the three industrial business segments stood at 19%. These results reflect strong sales performance driven by technologically advanced products and powerful brands, with record achievements across multiple businesses—including aerospace coatings, protective and marine coatings, and packaging coatings. In 2025, the company demonstrated remarkable adaptability amid a challenging macroeconomic backdrop: sales volume and pricing rose across all four quarters, delivering 2% organic sales growth. It generated $1.9 billion in operating cash flow, with a free cash flow yield of 5%. During the year, the company repurchased approximately $790 million worth of shares—about 3% of its outstanding shares. Including dividends, PPG returned $1.4 billion to shareholders in 2025. Factors Affecting PPG’s Q4 2025 Operating Performance PPG’s net sales for Q4 2025 totaled $3.914 billion, up 5.0% year-on-year. Organic sales rose 3%—the highest quarterly growth achieved this year—fueled by broad-based growth across all three business segments. Overall sales prices rose 1% year-on-year, though part of this increase was offset by lower pricing under certain index-based customer contracts. Overall sales volume increased 2% compared to Q4 2024. Net sales also included a 4% benefit from foreign exchange translation and a 2% reduction due to business divestitures. Key growth drivers included aerospace coatings, protective and marine coatings, and architectural coatings in Mexico. Gains in market share within the industrial coatings segment further offset declines in the automotive refinish coatings business and in architectural coatings across Europe and the Middle East.

Barclays sets USD 136.00 target for PPG Industries stock

Oct 15, 2026

Barclays initiated coverage on PPG Industries with an Overweight rating and a $136 price target, signaling 26% upside potential ahead of Q3 2026 earnings release on October 27.

ad-hoc-news.de

2026-05-11

Sherwin-Williams stock (US8243481051): Bensler LLC cuts stake by 24,380 shares

2026-05-27

Sherwin-Williams Freight Partnership Highlights Supply Chain Execution And Margin Focus

2026-06-10

Fjarde AP Fonden Reduces PPG Industries Stake by 78.4%

2026-07-19

PPG Industries Stake Reduced by Financiere des Professionnels Fonds d’Investissement Inc.

2026-07-19

PPG Industries, Inc. Shares Sold by Regents Gate Capital LLP