HighGravityData

PPG Industries — Oct 16, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000079879-24-000213
Open on SEC.gov ↗
Showing in the filing
Adjusted earnings per share
“low end of the $8.15 to $8.30 range”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 2
Sales (organic sales) for FY2024
“flat”
Adjusted earnings per share for FY2024
“low end of the $8.15 to $8.30 range”
Exhibit 99.1 · the passage around this item
… earlier in the release
Our balance sheet remains strong, which continues to provide us with the financial flexibility to drive shareholder value creation going forward. Looking ahead, we maintain our full-year 2024 sales and EPS guidance, expecting organic sales to be flat and adjusted earnings per share to be at the low end of the $8.15 to $8.30 range. The pending closure of the silicas products business divestiture and the architectural coatings U.S. and Canada strategic review reflects the execution of our enterprise growth strategy to focus our resources on businesses where we have the greatest growth and margin opportunities. Finally, we remain committed to our heritage of strong cost management and improved productivity that reinforces our ability to maintain momentum in driving higher margins and earnings growth. This strong performance would not be possible without the dedication of our employees to deliver growth for PPG. Thank 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®. Third Quarter 2024 Reportable Segment Financial Results Performance Coatings segment $ in millions 3Q 2024 3Q 2023 YOY change Net sales $2,921 $2,880 +1% Segment income $513 $452 +13% Segment income % 17.6% 15.7% Sales volumes +2% Selling prices +1% Foreign currency translation (1)% Divestitures (1)% Performance Coatings net sales increased, as higher sales volumes and selling prices were partially offset by the divestitures of the non-North American portion of the tra
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.