PPG beats Q3: record $4.6B sales, adj EPS $2.07; raises FY guidance

PPG INDUSTRIES INC

2023-Q3 EPS reported $4.97 revenue$13,896,000,000

Q3 net sales $4.644B (+4% YoY), adj EPS $2.07 (+25% YoY), both records.
Segment margin up 260 bps YoY, fourth consecutive quarter of improvement.
YTD operating cash flow >$1.5B, up >$1.1B vs prior year.
FY2023 adj EPS guidance raised to $7.58-7.64; Q4 adj EPS guided $1.44-1.50.
Performance Coatings income +25% ($452M); Industrial Coatings +28% ($246M).

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 0.9

PPG INDUSTRIES INC updated its full-year guidance (raised).

Period: full-year
Guidance: raised
Result: guidance update

Exact text from the filing

PPG reports third quarter financial results; raises full-year EPS guidance

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PPG INDUSTRIES INC reported third quarter 2023 results: revenue $4,644, net income $426, EPS $1.79. Guidance raised.

Period: third quarter 2023
Revenue: $4,644
Net income: $426
EPS: $1.79
Guidance: raised
Result: reported results

Exact text from the filing

– PPG (NYSE:PPG) today reported financial results for the third quarter 2023. Third Quarter Consolidated Results $ in millions, except EPS 3Q 2023 3Q 2022 Y-O-Y change Net sales $4,644 $4,468 +4% Net income $426 $329 +29% Adjusted net income (a) $493 $393 +25% EPS $1.79 $1.39 +29% Adjusted EPS (a) $2.07 $1.66 +25% (a) Reconciliations of reported to adjusted

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PPG INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000079879-23-000060

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