PPG INDUSTRIES Reports Earnings Results for Q2 of FY2023
August 2, 2023
🌥️Earnings Overview
PPG ($NYSE:PPG) Industries on July 20 2023 reported second quarter earnings results for FY2023, showing total revenue of USD 4872.0 million, a 3.9% increase from the same period in the previous year. Net income for the quarter ending June 30 2023 was USD 490.0 million, a 11.1% increase from the same period last year.
Stock Price
The stock opened at $150.2 and closed at $149.7, down by 0.4% from the previous closing price of 150.3. This marked a slight decline from the performance of its first quarter, in which it reported an increase in revenue of 3%. This jump was attributed to higher operating income driven by increased sales and cost reduction initiatives. Profit margins also increased, indicating a positive outlook for the company’s future operations. The company also noted that higher sales in the consumer segment contributed to the overall increase in revenue.
Additionally, the company highlighted how it was able to maintain the pace of growth despite cost increases associated with raw materials and production costs. Looking ahead, PPG Industries is optimistic about its future prospects. The company has already implemented a number of cost-reduction initiatives and is confident that these efforts will continue to drive meaningful growth over time. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ppg Industries. More…
| Total Revenues | Net Income | Net Margin |
| 17.91k | 1.32k | 7.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ppg Industries. More…
| Operations | Investing | Financing |
| 1.72k | -461 | -409 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ppg Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 22.1k | 14.85k | 30.34 |
Key Ratios Snapshot
Some of the financial key ratios for Ppg Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.8% | 5.5% | 11.0% |
| FCF Margin | ROE | ROA |
| 8.2% | 17.2% | 5.5% |
Analysis
GoodWhale recently conducted an analysis of the wellbeing of PPG INDUSTRIES. After taking into account various factors, including financial and business aspects, the Risk Rating for PPG INDUSTRIES is medium risk. We detected 1 risk warning in the balance sheet, and those who are registered with us can access the details. We recommend that those considering investing in PPG INDUSTRIES conduct their own research and draw their own conclusions on the level of risk associated with such an investment. More…
Peers
PPG Industries Inc and its competitors Trinseo PLC, LyondellBasell Industries NV, Covestro AG are all engaged in a fierce competition to be the leading chemical company globally. All four companies have their own unique strengths and weaknesses, and each is trying to gain an edge over the others. The competition between these companies is expected to heat up even further in the coming years.
– Trinseo PLC ($NYSE:TSE)
Trinseo PLC is a global materials company with a market cap of 630.21M as of 2022. The company has a strong focus on sustainability and is committed to being a force for good in the world. Trinseo’s products are used in a wide variety of applications, including automotive, consumer electronics, and construction. The company has a strong focus on research and development, and is constantly innovating to bring new and better products to market. Trinseo’s return on equity is 20.36%.
– LyondellBasell Industries NV ($NYSE:LYB)
LyondellBasell Industries NV is a Netherlands-based company engaged in the production of chemicals and polymers. The Company’s product portfolio includes olefins and polyolefins, and a range of derived products. LyondellBasell Industries NV, through its subsidiaries, operates in Europe, the United States, Asia Pacific, the Middle East and Africa.
– Covestro AG ($OTCPK:COVTY)
Covestro AG is a world-leading producer of high-performance polymers. The company’s innovative and sustainable products are used in a wide range of industries, from construction and electronics to sports and leisure. Covestro is headquartered in Leverkusen, Germany, and has around 16,800 employees worldwide. The company’s market cap is 6.67B as of 2022, and it has a return on equity of 14.83%. Covestro is a publicly traded company on the Frankfurt Stock Exchange.
Summary
PPG Industries experienced positive growth in its second quarter of fiscal year 2023, with total revenue increasing to USD 4872.0 million, representing a 3.9% increase year-on-year. Net income also increased 11.1%, to USD 490.0 million, compared to the same period last year. This strong financial performance is a promising sign for investors, suggesting that PPG Industries has the potential to generate a return on investment. With an improved outlook on the company’s future, investors may want to consider PPG Industries as a possible addition to their portfolios.
