PPG reported third-quarter 2025 financial results that included net sales of $4.082 billion, an increase of 1% year over year, and adjusted earnings per diluted share of $2.13, up 5% and a third-quarter record. Organic sales increased 2% on higher volumes and prices. The company reported a segment margin of 17% and segment EBITDA margin of 20%. Share repurchases totaled about $150 million in the quarter and $690 million year to date. PPG said its global scale and commercial execution drove share gains.

“PPG delivered an organic sales increase of 2%, including our third consecutive quarter of sales volume growth in a challenging macro environment. This result reflects the benefits of PPG's global breadth and the team's strong commercial execution across our businesses, which is driving share gains. Solid sales improvement, combined with our aggressive cost management, drove an adjusted earnings per share increase of 5% year over year, establishing a third quarter record of $2.13,” said Tim Knavish, chairman and CEO.

The company cited demand for technology-advantaged products, including double-digit organic growth in aerospace coatings, protective and marine coatings, and packaging coatings. Automotive OEM coatings posted above-market volume growth stemming from share gains. Architectural coatings improved sequentially with organic sales flat in the quarter, as growth in Mexico offset a modest decline in Europe. Automotive refinish coatings volumes were lower in the quarter, which the company attributed to distributor ordering patterns that favored the first half of the year and softer industry collision claims in the United States.

PPG said it is on pace to deliver about $75 million of restructuring savings for the year, incremental to other cost management actions. The company has deployed $1.2 billion toward share repurchases and dividends year to date. Looking ahead, PPG expects fourth-quarter organic growth driven by share gains in automotive OEM, packaging and industrial coatings, and continued strength in aerospace and protective and marine coatings. The company said it anticipates lower sales in automotive refinish coatings due to industry demand and customer inventory management. PPG issued full-year earnings guidance of $7.60 to $7.70 per diluted share.

Additional segment detail included a 3% increase in Performance Coatings net sales on higher prices and currency translation, offset by lower volumes, with record aerospace sales and ongoing growth in protective and marine. Global Architectural Coatings net sales increased 1% on higher pricing and currency, offset by divestitures and lower volumes. Industrial Coatings net sales were flat, with a 4% volume increase offset by lower index-based pricing, currency and divestiture effects. The company said automotive OEM volumes outpaced the global automotive industry by about 300 basis points, industrial coatings organic sales declined low single digits on softer demand in Europe and the United States, and packaging coatings organic sales increased by a double-digit percentage on share gains.

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