PPG Industries Inc

PPG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	&$M	LOCK\|$$n>	LOCK\|!#L?lBz

PPG Earnings: Lackluster Industrial Demand Offset by Performance Coatings Volume Gains

Spencer Liberman

Oct 17, 2024

Narrow-moat PPG reported third-quarter results that came with few surprises. Net sales fell roughly 1.5% year over year as gains in the performance coatings segment were offset by continued declines in industrial coatings. End market demand for PPG remains mixed, but we are encouraged by sequential improvements in some of its largest businesses like aerospace and automotive refinish. We've increased our fair value estimate to $120 from $118 per share due to time value of money.

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PPG Industries Inc

PPG Earnings: Lackluster Industrial Demand Offset by Performance Coatings Volume Gains

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