PPG raises Q1 2023 adjusted EPS guidance to $1.52-$1.58 from prior $1.10-$1.20

PPG INDUSTRIES INC

2023-Q1 EPS reported $1.11 revenue$4,380,000,000

Adjusted EPS expected $1.52-$1.58, well above prior guidance of $1.10-$1.20.
Stronger sales in aerospace and automotive OEM coatings drove volume recovery.
PPG Comex and U.S. architectural coatings also beat expectations with new customer win.
March 2023 pension settlement charge of ~$191M ($0.61/share) excluded from adjusted EPS.
Full Q1 results and FY2023 guidance to be released on April 20 after market close.

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