PPG's revenue remained flat year-on-year at $15.9 billion for the full year last year, while net profit surged 17% to $1.6 billion.

Industrial Coatings: In the fourth quarter of 2025, organic sales of industrial coatings were flat year-on-year; volume increased, but this gain was offset by a decline in index-based pricing. Industrial production performance varied across regions: robust growth in Asia Pacific, modest year-on-year growth in the U.S. and Europe, and a decline in Latin America. PPG’s volumes rose primarily in Europe and Asia Pacific, but declined in the U.S. and Latin America—partially offsetting the overall growth. Sales across multiple product categories exceeded prior-year levels, including notable growth in transportation, heavy equipment, and extruded products. The most pronounced weakness appeared in consumer electronics and kitchen & bakeware applications. Packaging Coatings: In the fourth quarter of 2025, organic sales of packaging coatings grew by a double-digit percentage year-on-year. Although volumes increased, this was slightly tempered by lower index-based pricing. These results reflect positive momentum driven by market share gains in the U.S., Asia Pacific, and Europe—bolstered by expanded regulatory policy implementation in Europe. Globally, demand for beverage packaging remained stable, and PPG’s volume growth outpaced the broader market. Looking ahead, global industrial production is expected to remain relatively low in the first quarter, with modest improvement anticipated in the U.S., Europe, and Asia Pacific—partially offset by declining demand in Latin America. Global automotive production is projected to decline by a low-single-digit percentage year-on-year, with output down in Asia, the U.S., and Europe, while Latin America sees growth—partially offsetting the overall decline. We anticipate that lower volumes this quarter will pressure margins; however, we expect to outperform automotive production growth across all regions through further market share gains. Packaging coatings are also expected to deliver strong growth, supported by continued market share expansion. Consequently, the segment’s overall organic sales are projected to decline by a low-single-digit percentage to remain flat sequentially in the first quarter of 2025. 5 Outlook At the end of the fourth quarter, total cash and short-term investments stood at $2.2 billion, and total net debt amounted to $5.1 billion—approximately $630 million higher than the prior-year level. Operating cash flow for 2025 totaled $1.9 billion, an increase of approximately $500 million year-on-year. PPG Industries expects continued challenges in demand from European and global industrial end markets. Despite macroeconomic uncertainty, PPG anticipates organic sales growth driven by aerospace coatings and architectural coatings in Mexico, as well as market share gains within its industrial coatings segment—resulting in overall organic sales growth ranging from flat to low-single-digit positive. This reflects the strength derived from our focused organizational structure and optimized portfolio of technologically differentiated products and services. Our decisive cost-reduction initiatives—including global structural cost cuts and consolidation of European manufacturing operations—are expected to generate an additional $50 million in pre-tax savings in 2026. The combination of organic sales growth and cost-savings measures aims to improve gross margin across the entire segment by approximately 100 basis points year-on-year.

PPG’s first-half performance: net sales of RMB 56.4 billion, with high-performance coatings continuing to lead.

Huizheng Information, July 29: PPG released its financial results for the second quarter of 2025. The report shows net sales of $4.2 billion (approximately RMB 29.93 billion), down 1% year-on-year (impacted by business divestitures). Net income was $450 million (approximately RMB 3.2 billion), down 9% year-on-year. Adjusted net income was $504 million (approximately RMB 3.6 billion), also down 9% year-on-year. Organic sales grew 2% year-on-year—driven by increases in both volume and price. Diluted earnings per share (EPS) were $1.98; adjusted EPS was $2.22. Segment operating margin was 17.7%, and segment EBITDA margin was 20.3%. During the quarter, the company repurchased $150 million worth of shares; year-to-date share repurchases totaled $540 million. Chairman and CEO Commentary Tim Knavish, Chairman and CEO of PPG, commented on the quarter’s performance: “We are pleased with our momentum—achieving 2% organic sales growth this quarter, with volume and price each contributing one percentage point. This result underscores PPG’s ability to deliver amid an increasingly volatile macro environment, powered by our strong product portfolio and global commercial execution. The High-Performance Coatings segment set new quarterly records for both sales and profitability, with organic sales up 6%, fueled by robust customer demand for our technology-leading products and services. The Industrial Coatings segment stabilized its volume after several quarters of contraction, and early benefits from market share expansion are beginning to emerge. Overall demand for architectural coatings in Europe remains weak—particularly in Eastern Europe—though organic sales growth in Northern Europe and the UK partially offsets this softness. Retail architectural coatings demand in Mexico remains solid, although project-related spending improved sequentially yet remains below prior-year levels. Regionally, organic sales in the U.S. and Canada posted mid-single-digit growth—the second consecutive quarter of year-on-year growth—while Latin America also delivered comparable organic growth. Looking ahead, we expect volume growth momentum to accelerate in the second half, driving strong year-on-year profit growth. Market share gains in Industrial Coatings will continue to yield benefits, with low-single-digit volume growth anticipated in the third and fourth quarters—especially in automotive OEM, packaging coatings, and industrial coatings, where growth is expected to outpace industry averages. Most businesses within the High-Performance Coatings segment will maintain steady growth, though automotive refinish sales may decline due to reduced industry activity and shifting customer ordering patterns. Additionally, architectural coatings will benefit from improved project demand in Mexico, expected in the second half of 2025. Accelerating volume growth, combined with ongoing self-help initiatives, positions us to deliver high-single-digit year-on-year EPS growth in the second half. PPG’s diversified global business portfolio, consistent execution of productivity initiatives, stable cash generation, and strong balance sheet give me confidence in achieving our full-year goals. We reaffirm our 2025 full-year EPS guidance range of $7.75 to $8.05.” Segment Performance ● Global Architectural Coatings Segment Impacted by the divestiture of PPG’s architectural coatings business in Russia and lower sales volumes, the Global Architectural Coatings segment’s net sales declined 5% year-on-year to $1.018 billion (approximately RMB 7.28 billion) versus Q2 2024.

PPG Industries anticipates high single-digit EPS growth in H2 2025 as share gains accelerate

Jul 9, 2026

PPG Industries forecasts high single-digit earnings per share growth for H2 2025, driven by accelerating market share gains. Management expressed strong confidence in the company's future performance based on this positive outlook.

MSN

2026-02-02

PPG Industries Q4 Earnings Miss Expectations

2026-04-11

PPG Industries Q1 2026 Earnings Preview

2026-04-13

PPG Industries Develops a Low-Cost Integrated OLED Substrate

2026-04-16

PPG Industries (PPG) Surges 5.37% Amid Positive Market Sentiment

2026-04-17

RPM International Inc Stock: Why Its Coatings Leadership Matters More Now for Investors