PPG Industries — Jul 29, 2025 release

In addition, we expect benefits in our architectural coatings business in Mexico as project-related demand is anticipated to improve during the second half of 2025. The accelerated momentum in volume growth and execution of our self-help actions is expected to drive year-over-year EPS growth of a high single-digit percentage in the second half of the year. PPG's diverse, global business portfolio, execution of self-help actions and demonstrated track record of consistent cash generation, coupled with our strong balance sheet, gives me confidence in delivering on our full-year commitments. We are reaffirming our full-year earnings per share guidance range of $7.75 to $8.05. 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®. Additional Financial Information • Net sales in the quarter benefited from sales volumes growth of 1% and higher selling prices of 1% offset by business divestitures which reduced year-over-year sales by 3%. • At quarter end, the company had cash and short-term investments totaling $1.6 billion. Net debt was $5.7 billion, an increase of $479 million from the second quarter 2024. • The company retired €300 million of debt at maturity in the second quarter and has a €600 million debt maturity due in the fourth quarter 2025. • Corporate expenses were $89 million in the second quarter. • Second quarter net interest expense was $18 million. • In the second quarter, the effective tax rate was approximatel