PPG Q1 2024 adjusted EPS $1.86, net sales $4.31B; guides FY adj EPS $8.34-$8.59

PPG INDUSTRIES INC

2024-Q1 EPS reported $1.69 revenue$4,311,000,000

GAAP EPS $1.69 (record), adjusted EPS $1.86; net income $400M up 52% YoY.
Net sales $4.31B down 2% YoY; organic sales down 2% (1% excl prior year large customer load-in).
Segment margins improved 60 bps to 15.4% Performance Coatings and 14.7% Industrial Coatings.
Share repurchases of ~$150M in Q1; net debt $5.0B down $0.8B YoY.
Q2 adj EPS guidance $2.42-$2.52; FY adj EPS $8.34-$8.59; organic sales growth low single digits.

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 2024 results: revenue $4,311, net income $400, EPS $1.69.

Period: first quarter 2024
Revenue: $4,311
Net income: $400
EPS: $1.69
Result: reported results

Exact text from the filing

– PPG (NYSE:PPG) today reported financial results for the first quarter 2024. First Quarter Consolidated Results $ in millions, except EPS 1Q 2024 1Q 2023 YOY change Net sales $4,311 $4,380 (2)% Net income $400 $264 +52% Adjusted net income (a) $441 $432 +2% EPS $1.69 $1.11 +52% Adjusted EPS (a) $1.86 $1.82 +2% (a) Reconciliations of reported to adjusted

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Source: SEC EDGAR

accession 0000079879-24-000094

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