PPG Industries: Will Its Strategy Of Portfolio Pruning & Acquisitions Pay Off?

The first quarter 2024 earnings of PPG Industries revealed insights into the company’s financial position, portfolio strategy, and outlook. During the quarter, the firm achieved sales of $4.3 billion and its sixth consecutive quarter of year-on-year segment margin increases, reporting adjusted earnings per diluted share of $1.86, $0.02 above the midpoint of the range provided in January. This represents the second-best Q1 adjusted EPS in the company’s history. The increased earnings were driven by moderating input costs and improved manufacturing performance.