PPG Industries: How Are Their Portfolio Changes Impacting Profitability and Growth?

PPG Industries, a global supplier of paints, coatings, and specialty materials, reported their second quarter 2024 financial results highlighting an all-time record earning per share (EPS) of $2.50 that signified an 11% year-over-year growth. Despite increasingly challenging macroeconomic conditions, the company posted sales of $4.8 billion, marking the seventh consecutive quarter of year-over-year segment margin improvement. However, their aggregate volumes in the quarter remained flat year-over-year, falling below their initial expectations due to weak demand in Europe and global automobile manufacturing.