PPG Industries Inc

PPG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$191.00	Hcnjj	Ttplclyq

PPG Offsets Softening Demand and Rising Costs With Robust Pricing in Fourth Quarter

Spencer Liberman

Jan 20, 2023

Narrow-moat PPG reported solid fourth-quarter results, where strong pricing gains were met with lower sales volume and continued inflationary pressure. While raw material availability continues to improve, raw material inflation has shown little sign of slowing. That said, management noted that selling price increases have almost offset raw material cost increases since over the last 2 years, which we think will provide an opportunity for margin expansion in 2023.

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