PPG Stock Recent News

PPG Industries (NYSE: PPG) has entered into a definitive agreement to sell its US and Canada architectural coatings business to American Industrial Partners (AIP) for $550 million.

Building off strong foundations and iconic legacy brands, investment will enable the Company to accelerate profitable growth across the U.S. and Canada NEW YORK , Oct. 17, 2024 /PRNewswire/ -- American Industrial Partners ("AIP"), an industrials investor, today announced that American Industrial Partners Capital Fund VIII has entered into a definitive agreement to acquire the U.S. and Canadian architectural coatings business (the "Company") of PPG, (NYSE: PPG), a global paints, coatings, and specialty materials leader.  The transaction is expected to close in late 2024 or early 2025 and is subject to customary closing conditions.

Paints and coatings maker PPG Industries said on Thursday it would lay off 1,800 employees in the United States and Europe and close various facilities as part of its cost-reduction program.

The decline in PPG's sales in Q3 is due to soft global industrial production, which hurt demand in the Industrial Coatings segment.

PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE: PPG), a global leader in paints, coatings, and specialty materials, today announced that it has reached a definitive agreement to sell 100% of its architectural coatings business in the U.S. and Canada at a transaction value of $550 million to American Industrial Partners (AIP), an industrials investor. The transaction, which is expected to close in late 2024 or early 2025, subject to customary closing conditions, is the result of PPG's evaluation of stra.

Paints and coatings maker PPG Industries missed Wall Street estimates for third-quarter profit on Wednesday, hurt by lower sales at its industrial coatings unit.

Although the revenue and EPS for PPG Industries (PPG) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

PPG Industries (PPG) came out with quarterly earnings of $2.13 per share, missing the Zacks Consensus Estimate of $2.15 per share. This compares to earnings of $2.07 per share a year ago.

PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today reported financial results for the third quarter 2024. Third Quarter Consolidated Results $ in millions, except EPS 3Q 2024 3Q 2023 YOY change Net sales $4,575 $4,644 (1)% Net income $468 $426 +10% Adjusted net income(a) $500 $493 +1% EPS $2.00 $1.79 +12% Adjusted EPS(a) $2.13 $2.07 +3% (a) Reconciliations of reported to adjusted figures are included below Chairman and CEO Comments Tim Knavish, PPG chairman and chief executive officer, commented.

Besides Wall Street's top -and-bottom-line estimates for PPG Industries (PPG), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.