According to the report, the company’s revenue across currencies was up 5% on pricing, despite flat volumes, while reported revenue was 4% down on unfavorable exchange rates.
Reportedly, consolidated net sales increased 1.1% in the quarter to $6.12 billion. All comparisons are to the third-quarter of the prior year, unless otherwise noted.
Tim Knavish, PPG Chairman and Chief Executive Officer, commented on the quarter, saying, “ We achieved record third-quarter net sales and adjusted earnings per share aided by the breadth and resiliency of our business portfolio."
Fiscal 2024 first-quarter adjusted EBIT was reportedly an all-time record and was in addition to strong growth in the prior-year period when adjusted EBIT increased 33.1%.
Over the last few years, businesses of all sizes have faced significant challenges, from labor shortages to high inflation, and ongoing supply chain challenges. The NACD worked with PCI to convene members for a roundtable discussion to examine these pressing distribution issues, enhanced sustainability expectations, and the implementation of innovative technology into business practices.
This month’s edition of TiPMC Solution’s TiO2 Insider focuses on global TiO2, mineral sands, and coatings producers’ first half earnings reports, and their outlooks for the remainder of 2023. The prolonged slump seems all but certain to continue for the rest of 2023. TiPMC believes 2023 will see a 5-8% drop in overall TiO2 demand as compared to 2022, when the market declined an estimated 8% vs. the previous year.
According to a report from MarketsandMarkets, the market size for powder coatings was USD 14.7 billion in 2022 and is projected to reach USD 19.9 billion by 2028, at a CAGR of 5.2% during the forecast period. Economic growth in developing countries, end-use industry expansion, investment in infrastructure, stringent environmental regulations, and growing purchasing power drive the powder coatings market.
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