PPG Q1 adjusted EPS $1.82 beats prior year by 33%; record sales $4.38B

PPG INDUSTRIES INC

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

Adjusted EPS $1.82 vs $1.37 YoY (+33%); reported EPS $1.11.
Record net sales $4.38B (+2% YoY); organic sales +5% on 8% higher selling prices.
Performance Coatings segment income $395M (+24%); Industrial Coatings $240M (+71%).
Operating margins up 380 bps YoY; operating cash flow improved ~$400M.
Full-year 2023 adjusted EPS guidance $6.95-$7.25; Q2 adjusted EPS $2.05-$2.15.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PPG INDUSTRIES INC reported first quarter 2023 results: revenue $4,380, net income $264, EPS $1.11.

Period: first quarter 2023
Revenue: $4,380
Net income: $264
EPS: $1.11
Result: reported results

Exact text from the filing

PPG (NYSE:PPG) today reported financial results for the first quarter 2023. First Quarter Consolidated Results $ in millions, except EPS 1Q 2023 1Q 2022 Y-O-Y change Net sales* $4,380 $4,308 +2% Net income $264 $18 +1,367% Adjusted net income** $432 $327 +32% EPS $1.11 $0.08 +1,288% Adjusted EPS** $1.82 $1.37 +33%

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Source: SEC EDGAR

accession 0000079879-23-000023

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