secwatch.observer — SEC 8-K summary
======================================

Issuer:     PPG INDUSTRIES INC (PPG)
CIK:        0000079879
Form:       8-K
Filed at:   2022-10-19T23:59:59+00:00
Accession:  0000079879-22-000075
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PPG Q3 2022: Record sales $4.5B, but EPS misses; guides Q4 adjusted EPS $1.05-$1.20
--------------------------------------------------------------------------------

- Record Q3 net sales $4.468B (+2% reported, +8% constant currency); organic sales +9% driven by 12% higher selling prices.
- Reported EPS $1.39, adjusted EPS $1.66 (down 2% YoY); raw material cost inflation ~40% on two-year stack.
- Performance Coatings segment income fell 11% to $362M; Industrial Coatings income rose 37% to $192M on higher prices and volumes.
- Q4 outlook: reported EPS $0.90-$1.05, adjusted EPS $1.05-$1.20; expects improving year-over-year segment margins in Q4 and 2023.
- New restructuring program targeting $70M annualized savings; aerospace and auto refinish order backlogs total ~$200 million.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/79879/000007987922000075/0000079879-22-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/79879/000007987922000075/ppg-20221019.htm
  HTML page:      https://secwatch.observer/filing/0000079879-22-000075

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer