PPG Q2 Profit Drops on War-Driven Costs, EPS Misses Estimates
PPG sits 23% above its 52-week low of $93.385 on elevated volume (1.9× avg).
Summary
PPG's Q2 net income fell to $437 million ($1.95/share) from $450 million a year ago, missing adjusted EPS estimates by 2 cents. Revenue beat at $4.5 billion, but higher raw material, energy, and logistics costs tied to the Iran war eroded margins. The company reiterated full-year adjusted EPS guidance of $7.70-$8.10. This follows an earlier report highlighting 4% organic sales growth; the profit miss and cost headwinds add a negative tilt. Watch for margin recovery if input costs ease or further price actions take hold.
At the time of this announcement, PPG was trading at $114.84 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $26.5B. The 52-week trading range was $93.39 to $133.43. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.