- \n
- \nNet sales of $4.5 billion, an increase of 7% versus prior year<\/p>\n<\/li>\n
- \nOrganic sales increased 4% year over year with growth in 8 of 9 businesses led by our differentiated aerospace business<\/p>\n<\/li>\n
- \nSales volumes increased 2% and selling prices increased 2%<\/p>\n<\/li>\n
- \nReported earnings per diluted share (EPS) of $1.96 and adjusted EPS of $2.23<\/p>\n<\/li>\n
- \nCash from operating activities was approximately $600 million year to date, more than $220 million higher year over year<\/p>\n<\/li>\n
- \nShare repurchases totaled $75 million in the quarter and $175 million year to date<\/p>\n<\/li>\n
- \nReaffirming full-year 2026 adjusted EPS guidance range of $7.70 to $8.10<\/p>\n<\/li>\n<\/ul>\n
PITTSBURGH–(BUSINESS WIRE<\/a>)–
\nPPG (NYSE:PPG) today reported financial results for the second quarter 2026.<\/p>\nSecond<\/i> Quarter 2026 Consolidated Results<\/i><\/b><\/p>\n
\n
\n \n \n$ in millions, except EPS<\/p>\n<\/td>\n
\n \n2Q 2026<\/p>\n<\/td>\n
\n \n2Q 2025<\/p>\n<\/td>\n
\n \nYOY change<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$4,495<\/p>\n<\/td>\n
\n \n$4,195<\/p>\n<\/td>\n
\n \n+7%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income (a)<\/sup><\/p>\n<\/td>\n
\n \n$439<\/p>\n<\/td>\n
\n \n$450<\/p>\n<\/td>\n
\n \n(2)%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted net income (a)(b)<\/sup><\/p>\n<\/td>\n
\n \n$500<\/p>\n<\/td>\n
\n \n$504<\/p>\n<\/td>\n
\n \n(1)%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEPS (a)<\/sup><\/p>\n<\/td>\n
\n \n$1.96<\/p>\n<\/td>\n
\n \n$1.98<\/p>\n<\/td>\n
\n \n(1)%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted EPS (a)(b)<\/sup><\/p>\n<\/td>\n
\n \n$2.23<\/p>\n<\/td>\n
\n \n$2.22<\/p>\n<\/td>\n
\n \n\u2014%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(a) From continuing operations<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(b) Reconciliations of reported to adjusted figures are included below<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Chairman and CEO Comments<\/i><\/b><\/p>\n
\nTim Knavish, PPG chairman and chief executive officer, commented on the quarter:<\/p>\n
\nI am proud to announce that PPG delivered its sixth consecutive quarter of organic sales growth, a solid increase of 4%, with equal contributions from sales volumes and selling prices. We outpaced the industry by 300 basis points, achieving organic growth in all three segments and in eight of our nine businesses, demonstrating our ability to accelerate momentum in a complex and evolving environment. Adjusted EPS of $2.23 was slightly higher year over year driven by strong results in our differentiated aerospace and architectural coatings Latin America businesses, offsetting lower sales volumes in automotive refinish coatings.<\/p>\n
\nOur Global Architectural Coatings segment achieved 2% organic sales growth and EBITDA margin improvement of 100 basis points led by strength in Latin America and modest growth in Europe. Long-term organic sales and margin expansion in this segment is driven by high-performance products, strong brand recognition, and cost control actions, along with excellent commercial execution.<\/p>\n
\nPerformance Coatings segment organic sales grew 3%, benefiting from strong demand for our aerospace and protective and marine coatings products. Margin declined year over year, driven by weaker automotive refinish coatings demand, as the recovery of insurance claims improved more gradually than anticipated. Automotive refinish coatings organic sales are projected to grow in the second half of the year in the range of a low to mid-single-digit percentage due to the phasing of PPG customer order patterns last year. Aerospace industry demand is expected to remain robust, and our technology-advantaged products position us well to deliver consistent above-industry growth in this key business.<\/p>\n
\nIn our Industrial Coatings segment, we are delivering on previously communicated share gains in all three businesses, resulting in sales volume growth of 5%. This performance was due to double-digit percentage growth in packaging coatings and mid-single-digit percentage growth in both automotive original equipment manufacturer (OEM) and industrial coatings. Price was flat for the quarter, following previous price declines, as we executed new pricing actions. Our ability to outpace industry growth is driven by technology leadership, investment in product innovation, and commercial excellence.<\/p>\n
\nThe company has proactively made price adjustments globally and across all of our businesses, resulting in a 2% selling price improvement in the quarter. Costs have risen for raw materials, energy, logistics and packaging across the coatings value chain. In the second quarter we covered about 90% of the cost of goods sold inflation and expect to cover 100% by the fourth quarter, one quarter ahead of our original commitment. This represents a faster rate of price realization than we achieved during previous cycles.<\/p>\n
\nLooking ahead, we expect robust organic sales growth across most of our businesses in the third quarter, with aggregate growth in the low single-digit to mid-single-digit percentage range, led by strength in aerospace, Latin American architectural coatings, and packaging coatings. We are reaffirming our full-year earnings per share guidance range of $7.70 to $8.10. This demonstrates our confidence in our earnings trajectory given our positive momentum, realization of pricing, and execution of self-help actions.<\/p>\n
\nThank you to our PPG team around the world who make it happen and deliver on our purpose every day: We protect and beautify the world\u00ae.<\/p>\n
Additional Financial Information<\/i><\/b><\/p>\n
- \n
- \nNet sales in the quarter increased 7% year over year, due to higher sales volumes of 2%, higher selling prices of 2%, positive foreign currency translation of 2% and acquisitions of 1%<\/p>\n<\/li>\n
- \nAt quarter end, the company had cash and short-term investments totaling $1.6 billion<\/p>\n<\/li>\n
- \nNet debt was $5.3 billion, a decrease of $415 million from the second quarter 2025<\/p>\n<\/li>\n
- \nIn the second quarter, issued long-term bonds of CHF320 million due in 2030 and 2034, at a rate of 1.22% and 1.66%, respectively<\/p>\n<\/li>\n
- \nCorporate expenses were $91 million in the second quarter, $83 million exclusive of depreciation and amortization<\/p>\n<\/li>\n
- \nSecond quarter net interest expense was $29 million<\/p>\n<\/li>\n
- \nIn the second quarter, the effective tax rate was 22.3% and the adjusted effective tax rate was 22.5%, down approximately 100 basis points year over year<\/p>\n<\/li>\n<\/ul>\n
Second<\/i> Quarter 2026 Reportable Segment Financial Results<\/i><\/b><\/p>\n
Global Architectural Coatings Segment<\/span><\/b><\/p>\n
\n
\n \n \n$ in millions<\/p>\n<\/td>\n
\n \n2Q 2026<\/p>\n<\/td>\n
\n \n2Q 2025<\/p>\n<\/td>\n
\n \nYOY change<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$1,098<\/p>\n<\/td>\n
\n \n$1,018<\/p>\n<\/td>\n
\n \n+8%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSales volumes<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1)%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling prices<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+3%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nForeign currency translation<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+6%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income<\/p>\n<\/td>\n
\n \n$185<\/p>\n<\/td>\n
\n \n$160<\/p>\n<\/td>\n
\n \n+16%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income %<\/p>\n<\/td>\n
\n \n16.8%<\/p>\n<\/td>\n
\n \n15.7%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA (a)<\/sup><\/p>\n<\/td>\n
\n \n$213<\/p>\n<\/td>\n
\n \n$187<\/p>\n<\/td>\n
\n \n+14%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA %<\/p>\n<\/td>\n
\n \n19.4%<\/p>\n<\/td>\n
\n \n18.4%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(a) Reconciliations of reported to adjusted figures are included below<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nGlobal Architectural Coatings segment net sales increased 8% compared to the second quarter 2025 driven by a benefit from foreign currency translation and organic sales growth of 2% due to higher selling prices, partially offset by lower sales volumes.<\/p>\n
\nOrganic sales for architectural coatings EMEA increased by a low single-digit percentage compared to the second quarter 2025, with higher selling prices partially offset by lower sales volumes. Organic sales for architectural coatings Latin America and Asia Pacific increased by a mid-single-digit percentage year over year driven by volume growth in Latin America and higher selling prices. In Mexico, retail sales were strong, and project-related sales improved compared to lower prior-year demand from local business and governmental investment.<\/p>\n
\nSegment EBITDA increased 14% and segment EBITDA margin improved 100 basis points compared to the prior year with realization of higher selling prices and cost-control actions partially offset by cost of goods sold inflation. In the third quarter, the company expects organic sales in the range of flat to a low single-digit percentage growth year over year and EBITDA margin to be relatively flat.<\/p>\n
Performance Coatings Segment<\/span><\/b><\/p>\n
\n
\n \n \n$ in millions<\/p>\n<\/td>\n
\n \n2Q 2026<\/p>\n<\/td>\n
\n \n2Q 2025<\/p>\n<\/td>\n
\n \nYOY change<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$1,619<\/p>\n<\/td>\n
\n \n$1,512<\/p>\n<\/td>\n
\n \n+7%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSales volumes<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling prices<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+3%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nForeign currency translation<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+1%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisitions<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+3%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income<\/p>\n<\/td>\n
\n \n$329<\/p>\n<\/td>\n
\n \n$356<\/p>\n<\/td>\n
\n \n(8)%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income %<\/p>\n<\/td>\n
\n \n20.3%<\/p>\n<\/td>\n
\n \n23.5%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA (a)<\/sup><\/p>\n<\/td>\n
\n \n$368<\/p>\n<\/td>\n
\n \n$389<\/p>\n<\/td>\n
\n \n(5)%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA %<\/p>\n<\/td>\n
\n \n22.7%<\/p>\n<\/td>\n
\n \n25.7%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(a) Reconciliations of reported to adjusted figures are included below<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nPerformance Coatings segment net sales increased 7% due to higher selling prices, a benefit from foreign currency translation, and acquisitions.<\/p>\n
\nOrganic sales improved 3% compared to the prior year led by aerospace, protective and marine coatings, and traffic solutions, partially offset by year-over-year sales volume declines in automotive refinish coatings. Aerospace achieved exceptional quarterly sales with double-digit percentage organic sales growth, while our order backlog remained near $300 million. Organic sales in automotive refinish coatings decreased by a double-digit percentage as sales volumes were lower, reflecting both a challenging comparison to customer order patterns in the second quarter of 2025 and a slower recovery in underlying industry demand. Protective and marine coatings organic sales increased by a double-digit percentage compared to the prior year, achieving its 13th consecutive quarter of sales volume growth, including above-market marine sales volume growth in Asia Pacific and Europe. Organic sales in traffic solutions increased a mid-single-digit percentage driven by strong demand.<\/p>\n
\nCompared to the second quarter 2025, segment EBITDA decreased by 5% and segment EBITDA margin declined 300 basis points, driven by lower automotive refinish coatings sales volumes. In the third quarter, the company expects organic sales growth in the range of a mid-single-digit percentage to a high single-digit percentage year over year. In the second half of 2026, we expect EBITDA margin expansion driven by pricing actions and automotive refinish stabilization.<\/p>\n
Industrial Coatings Segment<\/span><\/b><\/p>\n
\n
\n \n \n$ in millions<\/p>\n<\/td>\n
\n \n2Q 2026<\/p>\n<\/td>\n
\n \n2Q 2025<\/p>\n<\/td>\n
\n \nYOY change<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$1,778<\/p>\n<\/td>\n
\n \n$1,665<\/p>\n<\/td>\n
\n \n+7%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSales volumes<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+5%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling prices<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nForeign currency translation<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n+2%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income<\/p>\n<\/td>\n
\n \n$229<\/p>\n<\/td>\n
\n \n$227<\/p>\n<\/td>\n
\n \n+1%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income %<\/p>\n<\/td>\n
\n \n12.9%<\/p>\n<\/td>\n
\n \n13.6%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA (a)<\/sup><\/p>\n<\/td>\n
\n \n$282<\/p>\n<\/td>\n
\n \n$276<\/p>\n<\/td>\n
\n \n+2%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA %<\/p>\n<\/td>\n
\n \n15.9%<\/p>\n<\/td>\n
\n \n16.6%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(a) Reconciliations of reported to adjusted figures are included below<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nIndustrial Coatings segment net sales increased 7% compared to the second quarter 2025, led by higher sales volumes and a benefit from foreign currency translation. Organic sales increased 5% due to sales volume growth in all three businesses, reflecting the benefits from share gains.<\/p>\n
\nAutomotive OEM coatings organic sales increased a low single-digit percentage, with mid-single-digit percentage sales volume growth, including share gains, outpacing global automotive industry production by about 500 basis points. Industrial coatings organic sales improved a mid-single-digit percentage driven by sales volume and selling price growth in Asia Pacific, Europe and North America. Packaging coatings organic sales increased by a double-digit percentage versus the prior year period and sales volumes were up over 20% on a two-year stacked basis, due to share gains as customers adopt our leading technologies.<\/p>\n
\nSegment EBITDA increased 2% and segment EBITDA margin declined 70 basis points compared to the second quarter 2025. This margin decline was driven by cost of goods sold inflation partially offset by higher sales volumes. In the third quarter, the company expects organic sales in the range of flat to a low single-digit percentage growth year over year. In the second half of 2026, we expect EBITDA margin compression due to the timing of index-based pricing.<\/p>\n
Outlook<\/i><\/b><\/p>\n
\nThe company expects third quarter organic sales growth in the range of a low single-digit to a mid-single-digit percentage and company adjusted EBITDA margin in the range of flat to a decline of 100 basis points year over year. We are reaffirming our full-year adjusted earnings per share guidance range of $7.70 to $8.10. This reflects the momentum of share gains and self-help actions, along with an updated view of global economic activity, foreign exchange rates as well as regional and business mix.<\/p>\n
\nAdditional information related to 2026 financial projections is posted within the slides associated with the second quarter earnings documents on the Investors section of PPG.com.<\/p>\n
The term organic sales as used in this press release is defined as net sales excluding the impact of currency, acquisitions and divestitures.<\/i><\/p>\n
PPG: WE PROTECT AND BEAUTIFY THE WORLD\u00ae<\/b><\/p>\n
\nAt PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers\u2019 biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com<\/a>.<\/p>\n
\nThe PPG Logo<\/i> and We protect and beautify the world<\/i> are registered trademarks of PPG Industries Ohio, Inc.<\/p>\n
Additional Information<\/b><\/p>\n
\nPPG will provide additional information regarding its financial performance, including presentation-slide content, on the PPG Investor Center at www.ppg.com<\/a> at about 4:30 p.m. ET today, July 28. The company will hold a conference call to review its second quarter 2026 financial performance on July 29, at 8:00 a.m. ET. Participants can pre-register for the conference by navigating to https:\/\/events.q4inc.com\/attendee\/123720578<\/a>.The conference call also will be available in listen-only mode via Internet broadcast from the PPG Investor Center at www.ppg.com<\/a>. A web replay will be available shortly after the call on the PPG Investor Center at www.ppg.com<\/a>, and will remain through Tuesday, July 27, 2027.<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nStatements contained herein relating to matters that are not historical facts are forward-looking statements reflecting PPG\u2019s current view with respect to future events and financial performance. These matters within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, involve risks and uncertainties that may affect PPG\u2019s operations, as discussed in the company\u2019s filings with the Securities and Exchange Commission pursuant to Sections 13(a), 13(c) or 15(d) of the Exchange Act, and the rules and regulations promulgated thereunder. Accordingly, many factors could cause actual results to differ materially from the forward-looking statements contained herein. Such factors include statements related to earnings guidance, global economic conditions, geopolitical issues, the amount of future share repurchases, increasing price and product competition by our competitors, fluctuations in cost and availability of raw materials, energy, labor and logistics, the ability to achieve selling price increases, margins, share gains, customer inventory levels, PPG inventory levels, the ability to maintain favorable supplier relationships and arrangements, the timing of realization of anticipated cost savings from restructuring and other initiatives, the ability to identify additional cost savings opportunities, the timing and expected benefits of potential future and completed acquisitions, difficulties in integrating acquired businesses and achieving expected synergies therefrom, economic and political conditions in international markets, the imposition and magnitude of tariffs, the ability to penetrate existing, developing and emerging foreign and domestic markets, foreign exchange rates and fluctuations in such rates, fluctuations in tax rates, the impact of future legislation, the impact of environmental regulations, unexpected business disruptions, global human health issues, the unpredictability of existing and possible future litigation, including asbestos litigation, and governmental investigations. However, it is not possible to predict or identify all such factors. Consequently, while the list of factors presented here and in our 2025 Annual Report on Form 10-K are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results compared with those anticipated in the forward-looking statements could include, among other things, lower sales or earnings, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on PPG\u2019s consolidated financial condition, results of operations or liquidity.<\/p>\n
\nAll information in this release speaks only as of July 28, 2026, and any distribution of this release after that date is not intended and will not be construed as updating or confirming such information. PPG undertakes no obligation to update any forward-looking statement, except as otherwise required by applicable law.<\/p>\n
Regulation G Reconciliation<\/b><\/p>\n
\nPPG believes investors\u2019 understanding of the company\u2019s performance is enhanced by the disclosure of net income, earnings per diluted share from continuing operations, PPG\u2019s effective tax rate adjusted for certain items, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, adjusted EBITDA margin, and segment EBITDA. PPG\u2019s management considers this information useful in providing insight into the company\u2019s ongoing performance because it excludes the impact of items that cannot reasonably be expected to recur on a quarterly basis or that are not attributable to our primary operations. Net income, earnings per diluted share from continuing operations and the effective tax rate adjusted for these items, EBITDA, adjusted EBITDA, adjusted EBITDA margin, and segment EBITDA are not recognized financial measures determined in accordance with U.S. generally accepted accounting principles (\u201cU.S. GAAP\u201d) and should not be considered a substitute for net income, earnings per diluted share, the effective tax rate, segment income or other financial measures as computed in accordance with U.S. GAAP. In addition, adjusted net income, adjusted earnings per diluted share, the adjusted effective tax rate, EBITDA, adjusted EBITDA, adjusted EBITDA margin and segment EBITDA may not be comparable to similarly titled measures as reported by other companies. PPG is not able to provide a reconciliation of third quarter 2026 or full-year 2026 expected adjusted earnings per diluted share or adjusted EBITDA to the most directly comparable GAAP financial measure without unreasonable effort because certain items that impact such measure are uncertain or cannot be reasonably predicted at this time.<\/p>\n
\n
\n \n Regulation G Reconciliation – Net Income, Earnings per Diluted Share, Effective Tax Rate and Segment Income<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n($ in millions, except per-share amounts and percentages)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0<\/p>\n<\/td>\n
\n Second Quarter<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Second Quarter<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n EPS(a)<\/sup><\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n EPS (a)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nReported net income from continuing operations<\/p>\n<\/td>\n
\n \n$439<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.96<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.98<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisition-related amortization expense<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.09<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.11<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBusiness restructuring-related costs, net(b)<\/sup><\/p>\n<\/td>\n
\n \n10<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.04<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n15<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.07<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPortfolio optimization(c)<\/sup><\/p>\n<\/td>\n
\n \n4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.02<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.01<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLegacy environmental remediation charges(d)<\/sup><\/p>\n<\/td>\n
\n \n19<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.08<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.05<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLegal settlement(e)<\/sup><\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0.04<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted net income from continuing operations, excluding certain items<\/p>\n<\/td>\n
\n \n$500<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$2.23<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$504<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$2.22<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Second Quarter<\/b><\/p>\n
2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Second Quarter<\/b><\/p>\n
2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Income Before Income Taxes<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Tax Expense<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Effective Tax Rate<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Income Before Income Taxes<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Tax Expense<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Effective Tax Rate<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nEffective tax rate, continuing operations<\/p>\n<\/td>\n
\n \n$569<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$127<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$598<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$140<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n23.4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisition-related amortization expense<\/p>\n<\/td>\n
\n \n26<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n33<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBusiness restructuring-related costs, net(b)<\/sup><\/p>\n<\/td>\n
\n \n13<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22.0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n23.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPortfolio optimization(c)<\/sup><\/p>\n<\/td>\n
\n \n5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLegacy environmental remediation charges(d)<\/sup><\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLegal settlement(e)<\/sup><\/p>\n<\/td>\n
\n \n11<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted effective tax rate, continuing operations, excluding certain items<\/p>\n<\/td>\n
\n \n$649<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$146<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22.5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$669<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$157<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n23.5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Second Quarter<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReported net income from continuing operations<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n439<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense, net of interest income<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n29<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n18<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n127<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n140<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income attributable to noncontrolling interests<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings before interest and taxes (“EBIT”)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n598<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n616<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n102<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n91<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n26<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n33<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEBITDA<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n726<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n740<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBusiness restructuring-related costs, net(b)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPortfolio optimization(c)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLegacy environmental remediation charges(d)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLegal settlement(e)<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n11<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted EBITDA<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n780<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n778<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n4,495<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n4,195<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income margin<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9.8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n10.7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEBIT margin<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13.3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14.7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted EBITDA margin<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n17.4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n18.5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n(a)<\/p>\n<\/td>\n
\n \nEarnings per diluted share is calculated based on unrounded numbers. Figures in the table may not recalculate due to rounding.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(b)<\/p>\n<\/td>\n
\n \nBusiness restructuring-related costs, net include business restructuring charges, offset by releases related to previously approved programs, which are included in Other charges, net on the consolidated statement of income, accelerated depreciation of certain assets, which is included in Depreciation on the consolidated statement of income, and other restructuring-related costs, which are included in Cost of sales, exclusive of depreciation and amortization, Selling, general and administrative and Other charges, net on the consolidated statement of income.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(c)<\/p>\n<\/td>\n
\n \nPortfolio optimization includes advisory, legal, accounting, valuation, other professional or consulting fees, and certain internal costs directly incurred to effect acquisitions, as well as similar fees and other costs to effect divestitures and other portfolio optimization exit actions. These costs are included in Selling, general and administrative expense on the condensed consolidated statement of income. Portfolio optimization also includes charges related to the step-up of acquired inventory. These costs are included in Cost of sales, exclusive of depreciation and amortization on the condensed consolidated statement of income. Portfolio optimization also includes a $7 million gain recognized on the sale of a business in the first quarter 2025, which is included in Other charges, net on the condensed consolidated statement of income. There was no tax expense associated with that gain.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(d)<\/p>\n<\/td>\n
\n \nLegacy environmental remediation charges represent environmental remediation costs at certain non-operating PPG manufacturing sites. These charges are included in Other charges, net in the condensed consolidated statement of income.<\/p>\n<\/td>\n<\/tr>\n
\n (e)<\/td>\n In the second quarter 2026, the Company settled a legal matter. The related charge is included in Other charges, net on the consolidated statement of income.<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Second Quarter<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Global Architectural Coatings<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$1,098<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,018<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income<\/p>\n<\/td>\n
\n \n$185<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$160<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment depreciation and amortization<\/p>\n<\/td>\n
\n \n28<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n27<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA<\/p>\n<\/td>\n
\n \n$213<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$187<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Segment EBITDA %<\/i><\/p>\n<\/td>\n
\n 19.4<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 18.4<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n Performance Coatings<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$1,619<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,512<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income<\/p>\n<\/td>\n
\n \n$329<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$356<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment depreciation and amortization<\/p>\n<\/td>\n
\n \n39<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n33<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA<\/p>\n<\/td>\n
\n \n$368<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$389<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Segment EBITDA %<\/i><\/p>\n<\/td>\n
\n 22.7<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 25.7<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n Industrial Coatings<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$1,778<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,665<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment income<\/p>\n<\/td>\n
\n \n$229<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$227<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment depreciation and amortization<\/p>\n<\/td>\n
\n \n53<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n49<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSegment EBITDA<\/p>\n<\/td>\n
\n \n$282<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$276<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Segment EBITDA %<\/i><\/p>\n<\/td>\n
\n 15.9<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 16.6<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n PPG INDUSTRIES, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED STATEMENT OF INCOME (unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n(All amounts in millions except per-share data)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n
June 30<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Six Months Ended<\/b><\/p>\n
June 30<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet sales<\/p>\n<\/td>\n
\n \n$4,495<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$4,195<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$8,425<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$7,879<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of sales, exclusive of depreciation and amortization<\/p>\n<\/td>\n
\n \n2,687<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,432<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,962<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,574<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling, general and administrative<\/p>\n<\/td>\n
\n \n931<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n872<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,816<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,710<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation<\/p>\n<\/td>\n
\n \n108<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n102<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n213<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n191<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmortization<\/p>\n<\/td>\n
\n \n26<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n33<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n53<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n65<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and development, net<\/p>\n<\/td>\n
\n \n107<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n106<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n220<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n208<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense<\/p>\n<\/td>\n
\n \n71<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n62<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n132<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n118<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income<\/p>\n<\/td>\n
\n \n(42<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(44<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(79<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(87<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther charges, net<\/p>\n<\/td>\n
\n \n38<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n34<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income taxes<\/p>\n<\/td>\n
\n \n$569<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$598<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,086<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,100<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n127<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n140<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n259<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n262<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome from continuing operations<\/p>\n<\/td>\n
\n \n$442<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$458<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$827<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$838<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss from discontinued operations, net of tax<\/p>\n<\/td>\n
\n \n(2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income attributable to controlling and noncontrolling interests<\/p>\n<\/td>\n
\n \n$440<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$458<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$825<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$836<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income attributable to noncontrolling interests<\/p>\n<\/td>\n
\n \n(3<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(8<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(6<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(13<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income (attributable to PPG)<\/p>\n<\/td>\n
\n \n$437<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$819<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$823<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmounts attributable to PPG:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome from continuing operations, net of tax<\/p>\n<\/td>\n
\n \n$439<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$821<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$825<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss from discontinued operations, net of tax<\/p>\n<\/td>\n
\n \n(2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income (attributable to PPG)<\/p>\n<\/td>\n
\n \n$437<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$819<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$823<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings per common share (attributable to PPG):<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome from continuing operations, net of tax<\/p>\n<\/td>\n
\n \n$1.97<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.98<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.68<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.63<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss from discontinued operations, net of tax<\/p>\n<\/td>\n
\n \n(0.01<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.01<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.01<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings per common share (attributable to PPG)<\/p>\n<\/td>\n
\n \n$1.96<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.98<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.67<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.62<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings per common share (attributable to PPG) – assuming dilution:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome from continuing operations, net of tax<\/p>\n<\/td>\n
\n \n$1.96<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.98<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.66<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.61<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLoss from discontinued operations, net of tax<\/p>\n<\/td>\n
\n \n(0.01<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.01<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(0.01<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings per common share (attributable to PPG) – assuming dilution<\/p>\n<\/td>\n
\n \n$1.95<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1.98<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.65<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3.60<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage shares outstanding<\/p>\n<\/td>\n
\n \n223.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n226.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n223.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n227.4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage shares outstanding – assuming dilution<\/p>\n<\/td>\n
\n \n223.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n227.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n224.2<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n228.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n PPG INDUSTRIES, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS HIGHLIGHTS (unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n($ in millions)<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Six Months Ended<\/b><\/p>\n
June 30<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash from\/(used for) operating activities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash from operating activities – continuing operations<\/p>\n<\/td>\n
\n \n$594<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$371<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash used for operating activities – discontinued operations<\/p>\n<\/td>\n
\n \n($2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n($2<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash from operating activities<\/p>\n<\/td>\n
\n \n$592<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$369<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash used for investing activities – continuing operations:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCapital expenditures<\/p>\n<\/td>\n
\n \n$309<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$330<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash used for financing activities – continuing operations:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDividends paid on PPG common stock<\/p>\n<\/td>\n
\n \n$317<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$308<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPurchase of treasury stock<\/p>\n<\/td>\n
\n \n$175<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$540<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n PPG INDUSTRIES, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONDENSED CONSOLIDATED BALANCE SHEET HIGHLIGHTS (unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n($ in millions)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n June 30<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n December 31<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n June 30<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents<\/p>\n<\/td>\n
\n \n$1,520<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$2,163<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,561<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term investments<\/p>\n<\/td>\n
\n \n74<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n56<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n64<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nReceivables, net<\/p>\n<\/td>\n
\n \n3,912<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,336<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,891<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories<\/p>\n<\/td>\n
\n \n2,226<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,996<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,224<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current assets<\/p>\n<\/td>\n
\n \n529<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n408<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n450<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets<\/p>\n<\/td>\n
\n \n$8,261<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$7,959<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$8,190<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term debt and current portion of long-term debt<\/p>\n<\/td>\n
\n \n$691<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$706<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,413<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable and accrued liabilities<\/p>\n<\/td>\n
\n \n4,307<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,957<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,061<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of operating lease liabilities<\/p>\n<\/td>\n
\n \n135<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n138<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n141<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRestructuring reserves<\/p>\n<\/td>\n
\n \n96<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n99<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n147<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities<\/p>\n<\/td>\n
\n \n$5,229<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$4,900<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$5,762<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt<\/p>\n<\/td>\n
\n \n$6,195<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$6,602<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$5,919<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n PPG OPERATING METRICS (unaudited)<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n($ in millions)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n June 30<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n December 31<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n June 30<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2026<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating Working Capital(a)<\/sup><\/p>\n<\/td>\n
\n \n$3,279<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$2,748<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$3,249<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAs a percent of quarter sales, annualized<\/p>\n<\/td>\n
\n \n18.2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n17.6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n19.4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(a) Operating working capital includes: (1) receivables from customers, net of allowance for doubtful accounts, (2) FIFO inventories and (3) trade liabilities.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260728298088\/en\/<\/a><\/span><\/p>\n
Media Contact:
\n<\/b>
Greta Edgar Borza
\n
Corporate Communications
\n
+1-724-316-7552
\n
edgar@ppg.com<\/a><\/span><\/p>\nInvestor Contact:
\n<\/b>
Alex Lopez
\n
Investor Relations
\n
+1-412-434-3466
\n
alejandrolopez@ppg.com
\n<\/a><\/span>
investor.ppg.com<\/a><\/p>\nKEYWORDS:<\/b> Pennsylvania United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Home Goods Residential Building & Real Estate Building Systems Chemicals\/Plastics Retail Commercial Building & Real Estate Construction & Property Manufacturing Other Retail Specialty Other Manufacturing Textiles Interior Design Other Construction & Property Engineering<\/p>\n
MEDIA:<\/b><\/p>\n
\n