PPG Reports Q2 2026: Organic Sales +4%, Adjusted EPS $2.23, Reaffirms Full-Year Guidance

summarizeSummary

PPG posted Q2 2026 organic sales growth of 4% and adjusted EPS of $2.23, missing estimates by a small margin but reaffirming full-year guidance. The quarter showed resilient demand across most segments, with aerospace and Latin America leading, while automotive refinish lagged.

check_boxKey Events · Earnings and Guidance · PPG

• Q2 Organic Sales +4%

  Organic sales grew 4% year-over-year, with 2% from higher volumes and 2% from pricing, marking the sixth consecutive quarter of organic growth.

• Adjusted EPS $2.23, Slightly Below Estimates

  Adjusted EPS of $2.23 was flat versus $2.22 a year ago and missed consensus by about 2%, as reported net income fell to $439 million from $450 million.

• Full-Year Guidance Reaffirmed

  PPG reaffirmed its 2026 adjusted EPS guidance range of $7.70 to $8.10, citing momentum from share gains, pricing actions, and self-help initiatives.

• Share Repurchases and Bond Issuance

  The company repurchased $75 million of stock in Q2 ($175 million YTD) and issued CHF320 million in long-term bonds at blended rates below 1.7%.

auto_awesomeAnalysis · PPG · Industrial Applications And Services

PPG delivered its sixth consecutive quarter of organic sales growth, up 4%, with equal contributions from volume and price. Adjusted EPS of $2.23 was flat year-over-year, as strong aerospace and Latin American architectural coatings offset weakness in automotive refinish. The company reaffirmed its full-year adjusted EPS guidance of $7.70 to $8.10, signaling confidence despite cost inflation. Share repurchases of $175 million year-to-date and a CHF320 million bond issuance at low rates highlight a strong balance sheet. The results slightly missed consensus adjusted EPS estimates, but the reaffirmed guidance and broad-based organic growth across eight of nine businesses are the key takeaways.