PPG Q2 record EPS $2.24 (+9% YoY), adj $2.50 (+11%); margins up 110 bps

PPG INDUSTRIES INC

2024-Q2 EPS reported $3.93 revenue$9,105,000,000

Net sales $4.79B, reported down 2% due to FX/divestitures; organic sales flat.
Segment margins improved 110 bps YoY to 18.7% (Performance) and 14.8% (Industrial).
Share repurchases $150M in Q2, $300M YTD; net debt $5.2B, down $0.4B YoY.
Q3 adj EPS guidance $2.10-$2.20; FY adj EPS guidance $8.15-$8.30.
Aerospace coatings organic sales up double-digit; backlog ~$290M; architectural coatings Mexico record sales.

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