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PPG Industries (PPG) investor relations material
PPG Industries Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Net sales reached $4.1 billion, up 1% year-over-year, with 2% organic growth driven by higher volumes and prices, led by aerospace, protective/marine, packaging, and automotive OEM segments.
Achieved record Q3 adjusted EPS of $2.13, up 5% year-over-year, with three consecutive quarters of sales volume growth despite macroeconomic headwinds.
Performance was driven by strong commercial execution, share gains in industrial and packaging coatings, and double-digit organic growth in aerospace and protective/marine coatings.
Automotive refinish sales declined due to distributor order patterns and industry-wide drop in collision claims.
Share repurchases totaled $150 million in Q3 and $690 million year-to-date.
Financial highlights
Adjusted EPS increased 5% year-over-year to $2.13, setting a Q3 record.
Segment EBITDA margin reached 20% for the quarter; segment margin was 17%.
Net income from continuing operations was $444 million; adjusted net income was $481 million.
Cash and short-term investments at quarter-end totaled $1.9 billion; net debt was $5.4 billion.
$150 million in share repurchases and $160 million in dividends in Q3; $1.2 billion returned to shareholders year-to-date.
Outlook and guidance
Full-year adjusted EPS guidance updated to $7.60–$7.70.
Expect continued organic sales and earnings growth, with low single-digit inflation for the year.
Q4 outlook: structural strength in aerospace and protective/marine coatings, but lower automotive refinish and architectural coatings sales due to inventory management and soft demand.
Anticipate margin expansion from operational excellence and volume growth, offset by lower earnings in performance coatings due to business mix.
Capital spending for 2025 projected at $725–$775 million; restructuring savings expected to reach $75 million for the year.
Auto refinish inventory impact on Q4?
Funding for
600M Q4 debt maturity?
Which tech-advantaged products drive growth?
Refinish recovery drivers and timing?
Aerospace/PMC investment impact on margins?
AI's role in product innovation?
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Next PPG Industries earnings date
Q4 202523 Jan, 2026
Next PPG Industries earnings date
Q4 202523 Jan, 2026
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Frequently asked questions
Paints and Coatings
Pittsburgh Plate Glass Industries, more often than not referred to as PPG, is an American company supplying paints, coatings, and specialty materials. Founded in 1883 by Captain John B. Ford and John Pitcairn, in Pittsburgh, Pennsylvania, PPG has become a trusted name in the coatings industry. The company's products are used in various industries ranging from automotive to aerospace and it has operations in roughly 70 countries.
Beginnings in Plate Glass
In its early days, PPG primarily focused on plate glass production, positioning itself as a key supplier for the burgeoning American construction industry. However, with foresight and adaptation, the company diversified and ventured into the paint and coatings sector. This proved to be a game-changing move, propelling PPG to the forefront of the industry. Today, PPG competes with companies such as Akzo Nobel, Sherwin Williams, and Axalta, to name a few.
An Expansive Product Portfolio
The range of products offered by PPG is vast. From protective coatings that shield airplanes from environmental wear to paints that enhance and beautify homes, PPG has a solution for nearly every surface. The company's lineup includes solutions for automotive and commercial coatings, industrial finishes, and a plethora of architectural paints. Furthermore, PPG has not confined itself to just traditional coatings. The company has delved into digital color-matching tools and sustainable paint solutions, demonstrating an acute awareness of both technological advancements and environmental considerations.
Serving Diverse Industries Globally
With its vast range of products, PPG caters to a multitude of industries. Automotive manufacturers trust PPG coatings to give vehicles their lasting shine and protective finish. In the aerospace sector, aircraft are coated with PPG products that offer protection against extreme conditions. Residential and commercial builders rely on PPG paints to transform spaces and bring visions to life. The company's reach extends beyond these sectors to marine, industrial, and consumer electronics applications, among others.
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