PPG reports Q4 adjusted EPS $1.61, consensus $1.63

Reports Q4 revenue $3.7B, consensus $3.97B. Tim Knavish, PPG (PPG) chairman and chief executive officer, commented on the year and quarter: “Throughout 2024, we demonstrated resilience in a challenging macro environment by growing our adjusted EPS by 6%, improving aggregate segment margins and generating $1.4 billion in operating cash flow which we returned to shareholders. During the quarter, we repurchased approximately $250 million of stock, and about $750 million for the full year, which represented approximately 3% of our outstanding shares. Combined with our dividend, we have returned $1.4 billion to our shareholders throughout the year. In 2024, we took significant steps to optimize our business portfolio through the divestitures of both our silica products and our architectural coatings U.S. and Canada businesses. These divestitures strengthen our financial profile, including an improvement in our adjusted EBITDA margin to 18.1%, and results in a more focused organization which positions the company to deliver sustainable organic growth. In both the fourth quarter and full-year 2024, organic sales declined a low single-digit percentage year over year with growth in Mexico, China and India as well as growth in the aerospace, protective and marine, and traffic solutions businesses offset by declines in the automotive original equipment manufacturer (OEM), industrial and architectural EMEA coatings businesses. Despite lower organic sales, adjusted EPS and aggregate segment EBITDA margin improved in both comparison periods driven by sales of our technology-advantaged products, moderated input costs and structural cost actions.”