PPG Industries Inc. (PPG) stock fell, post second quarter financial results


PPG Industries Inc. (NASDAQ: PPG) stock plunged at last close with a margin of 2.61% while during the after-hour session PPG stock price further declines by 5.73%. PPG Industries, Inc. is a Fortune 500 business based in the United States that manufactures paints, coatings, and specialty materials. It is the largest global coatings firm by revenue, backed by AkzoNobel.

>> 7 Top Picks for the Post-Pandemic Economy << 

Financial Results.

PPG Industries has released its second quarter 2021 financial results. Given below is the summary:

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


  • Net sales of over $4.4 billion in the second quarter set a new high, up 45 percent from the previous year.
  • Earnings per diluted share (EPS) of $1.80 were reported, with adjusted EPS of $1.94.
  • Sales volumes increased by roughly 24% year over year, owing to a robust rebound in demand across several end-use areas.
  • Year-over-year cost inflation was in the mid-to-high teens due to widespread raw material supply interruptions.
  • Additional pricing actions are being taken as well as a 3.5 percent rise in selling prices.
  • During the quarter, PPG completed the purchases of Tikkurila, Wörwag, and Cetelon. Since December 2020, five acquisitions have been made, generating $1.7 billion in yearly revenue.

Read More

Michael H. McGarry, PPG chairman and chief executive officer stated,

PPG high organic sales increase reflects a partial rebound in demand following the pandemic, with above-market contributions across several of their businesses. However, many supply and component interruptions, such as those that affected their clients’ total production capabilities, slowed their volume increase substantially. Furthermore, despite significant underlying end-use customer demands, numerous coatings raw material limitations and transportation problems limited their ability to completely fill the current order book throughout the quarter. The recent acquisitions have also contributed to their excellent year-over-year sales increase, and they are performing well.

Future Expectations

Furthermore, given current global economic activity, PPG made the following forecasts for the third quarter of 2021. Due to worldwide computer chip constraints, ongoing coatings raw material availability difficulties, and the near-term economic uncertainties linked with the pandemic’s prolonged impact, customers’ output limitations have been widened:

  • When contrasted to the third quarter of 2020, total net sales, including purchases, is expected to increase by 21% to 23%, with organic revenue growth in the low single digits.
  • Approximately $30 million in structural cost reductions through restructuring efforts year over year.
  • In the second quarter, corporate costs were $52 million, and in the third quarter, they are projected to be about $60 million.
  • $28 million to $30 million is anticipated as the total interest expense.
  • PPG’s global effective tax rate is currently between 21% and 23%.
  • Adjusted profits per diluted share for the full year are expected to range between $7.40 and $7.60.


Please enter your comment!
Please enter your name here