PPG Industries Full Year 2024 Earnings: Misses Expectations

PPG Industries (NYSE:PPG) Full Year 2024 Results

Key Financial Results

• Revenue: US$15.8b (down 2.4% from FY 2023).
• Net income: US$1.34b (up 9.9% from FY 2023).
• Profit margin: 8.5% (up from 7.5% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: US$5.75 (up from US$5.18 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

PPG Industries Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 34%.

The primary driver behind last 12 months revenue was the Industrial Coatings segment contributing a total revenue of US$6.69b (42% of total revenue). Notably, cost of sales worth US$9.21b amounted to 58% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$3.28b (62% of total expenses). Explore how PPG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in the US.

Performance of the American Chemicals industry.

The company's shares are down 3.6% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for PPG Industries that you need to take into consideration.

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