PPG Industries (NYSE:PPG) recovered Friday from earlier losses, after reporting strong second-quarter results. The supplier of paints, coatings and other materials posted adjusted earnings of $2.25 on revenue of $4.87 billion. Analysts polled by StreetAccount expected earnings of $2.14 per share and revenue of $4.84 billion. The company also raised its current-quarter and full-year earnings guidance.
The revenue figures of $4.87B beat projections by $30 million,
Organic sales grew 4% year over year Y/Y, led by higher selling prices.
Significant progress on margin recovery; segment margins up 330 basis points Y/Y
Strong year-to-date operating cash flow of about $620 million; up about $750 million Y/Y.
This week, PPG was recognized by Newsweek magazine in its 2023 list of America’s Greatest Workplaces. Newsweek and research firm Plant-A Insights Group conducted an independent study of companies with 1,000 or more employees to rank their performance in empowerment of women, promotion of veterans, development of entry-level employees and support of
The stocks traveled upward $1.50, or 1%, to $151.22.
