NYSE$PPG
PPG Industries Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
PPG announced an expected adjusted earnings per diluted share for Q3 2022 to be between 5% and 7% below the previously forecasted range due to softening demand in Europe and lower-than-expected recovery in China.
PPG expects Q3 2022 adjusted earnings per diluted share to be between 5% and 7% below the low end of the company's forecasted range. Sales were impacted by softening demand in Europe and lower-than-expected recovery in China. Softer demand conditions are expected to continue into the fourth quarter.
- Third quarter adjusted earnings per diluted share expected to be between 5% and 7% below the low end of the company’s forecasted range.
- Sales impacted by softening demand in Europe.
- Sequential quarterly demand recovery was lower than expected in China due to a resumption of certain pandemic-related restrictions.
- Softer demand conditions are expected to continue into the fourth quarter along with continued higher levels of unfavorable foreign currency translation impact.
Headline financials
Revenue & EPS history
PPG · Revenue · Quarterly
$4.47B
Revenue by segment
PPG · $4.13B total across 3 segments · Q3 2023
- Industrial Coatings$1.77B—42.8%
- Performance Coatings$1.32B—32.0%
- Architectural Coatings$1.04B—25.1%
Forward guidance
The company anticipates fourth quarter year-over-year segment earnings growth of near 20%, as year-over-year segment margin recovery momentum accelerates. The company is expecting selling prices to be up by between 10% and 12% compared to the prior-year fourth quarter, and up between 18% and 20% on a two-year stacked basis.
Tailwinds
- Anticipates fourth quarter year-over-year segment earnings growth of near 20%.
- Year-over-year segment margin recovery momentum accelerates.
- Expecting selling prices to be up by between 10% and 12% compared to the prior-year fourth quarter.
- Selling prices up between 18% and 20% on a two-year stacked basis.
- Raw material cost inflation remains at historically elevated levels but has begun to moderate in some regions.
Headwinds
- Softer demand conditions are expected to continue into the fourth quarter.
- Continued higher levels of unfavorable foreign currency translation impact.
- Third quarter adjusted earnings per diluted share expected to be between 5% and 7% below the low end of the company’s forecasted range.
- Sales impacted by softening demand in Europe.
- Sequential quarterly demand recovery was lower than expected in China due to a resumption of certain pandemic-related restrictions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.1%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+0.1%
Avg return
30 days after
46%
33 / 72 earnings
Positive
+11.0%
Q1 2021
Best reaction
-6.9%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | +3.0% | -4.7% | |
| Q4 2025 | +2.1% | +5.6% | +11.8% | |
| Q3 2025 | -5.9% | -9.8% | -5.0% | |
| Q1 2025 | +4.9% | +6.2% | +6.7% | |
| Q4 2024 | -6.0% | -8.3% | -7.8% | |
| Q3 2024 | +1.1% | -0.8% | -5.7% | |
| Q2 2024 | -4.3% | -5.3% | -8.5% | |
| Q1 2024 | -3.0% | -3.4% | -0.4% | |
| Q4 2023 | -1.2% | -0.4% | -0.8% | |
| Q3 2023 | -5.4% | -5.9% | +3.4% | |
| Q2 2023 | -0.6% | -2.2% | -7.1% | |
| Q1 2023 | +1.0% | -0.1% | +1.3% | |
| Q4 2022 | +2.5% | +2.5% | +1.7% | |
| Q3 2022 | -3.2% | -3.5% | -0.2% | |
| Q2 2022 | +6.4% | +5.1% | +9.9% | |
| Q1 2022 | +0.9% | -4.4% | -9.1% | |
| Q4 2021 | -4.2% | -4.7% | -7.4% | |
| Q3 2021 | +3.8% | +0.7% | +1.2% | |
| Q2 2021 | -6.9% | -4.3% | -3.3% | |
| Q1 2021 | +11.0% | +12.0% | +18.7% | |
| Q4 2020 | -4.7% | -2.4% | -5.5% | |
| Q3 2020 | -1.8% | -2.1% | +4.1% | |
| Q2 2020 | -3.2% | -4.7% | +2.9% | |
| Q1 2020 | -1.3% | -5.1% | +10.4% | |
| Q4 2019 | -1.7% | -3.7% | -8.1% | |
| Q3 2019 | +4.4% | +5.3% | +8.9% | |
| Q2 2019 | +0.8% | +2.0% | -5.1% | |
| Q1 2019 | -0.1% | +0.2% | -4.8% | |
| Q4 2018 | +2.8% | +1.8% | +6.4% | |
| Q3 2018 | +3.3% | +2.6% | +9.2% | |
| Q2 2018 | -1.6% | -0.7% | +1.6% | |
| Q1 2018 | -3.8% | -6.6% | -7.3% | |
| Q4 2017 | +3.4% | +2.4% | +1.4% | |
| Q3 2017 | +4.3% | +4.0% | +0.8% | |
| Q2 2017 | -6.4% | -5.7% | -10.1% | |
| Q1 2017 | +0.9% | +5.5% | +1.6% | |
| Q4 2016 | +2.4% | +5.3% | +5.9% | |
| Q3 2016 | -0.2% | -1.4% | +2.8% | |
| Q2 2016 | -2.2% | -3.0% | -4.8% | |
| Q1 2016 | -2.5% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +3.5% | — | — | |
| Q2 2015 | -4.4% | — | — | |
| Q1 2015 | -0.3% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q4 2008 | -1.2% | — | — | |
| Q3 2014 | +3.7% | — | — | |
| Q4 2011 | -0.0% | — | — | |
| Q2 2014 | +1.8% | — | — | |
| Q1 2014 | +2.6% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | +5.8% | — | — | |
| Q2 2013 | +1.5% | — | — | |
| Q1 2013 | +6.9% | — | — | |
| Q4 2012 | -1.4% | — | — | |
| Q3 2012 | -1.0% | — | — | |
| Q2 2012 | +9.3% | — | — | |
| Q1 2012 | +2.8% | — | — | |
| Q4 2010 | +2.4% | — | — | |
| Q3 2011 | -5.3% | — | — | |
| Q2 2011 | -2.9% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q4 2009 | +1.6% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q2 2010 | +1.7% | — | — | |
| Q1 2009 | -3.3% | — | — | |
| Q1 2010 | +0.7% | — | — | |
| Q4 2007 | +1.1% | — | — | |
| Q3 2009 | -0.6% | — | — | |
| Q3 2008 | -0.6% | — | — | |
| Q2 2008 | +0.0% | — | — | |
| Q2 2009 | +0.0% | — | — |
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