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PPG 2024 financials

PPG Releases Q4 and Full-Year Financial Results for 2024, Outlook for 2025

PPG recently released financial data for the full 2024 year and Q4 of 2024, as well as a hopeful outlook for 2025.

Q4 2024

Net sales from continuing operations reached $3.7 billion in 2024 in Q4, compared to $3.9 billion in 2023, down 5% year over year. Q4 earnings per diluted share from continuing operations (EPS) were reported at $0.01 and adjusted EPS of $1.61, an increase of 3% year over year.

Net sales for the Global Architectural Coatings segment were $881 million in Q4, down from 2023’s $943, a 7% decrease year over year. The Performance Coatings segment reached $1,262 million in Q4 and the Industrial Coatings segment hit $1,586 million in Q4 of 2024, down 9% from Q4 2023.

Full-Year 2024

For the full year, net sales were $15.8 billion, with operating cash flow of $1.4 billion. PPG reported EPS of $5.72 and adjusted EPS of $7.87 for 2024, an increase of 6% year over year

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,” says Tim Knavish, PPG chairman and chief executive officer. “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.”

2025 Outlook 

PPG anticipates adjusted EPS for 2025 will range from $7.75 to $8.05, reaching a growth rate of 7%. Estimates for this range are based on foreign exchange rates, ongoing soft global industrial production, current global activity and mixed demand across the regions where PPG operates.

Over $100 million share gains in the Industrial Coatings segment are also expected in 2025, beginning in the second half of the year.

“Looking ahead, I am excited about 2025 and beyond. We anticipate a slow start to 2025 as demand in Europe and in global industrial end-use markets remains challenged,” Knavish says. “Despite the macroeconomic environment, we expect to deliver organic sales growth of a low single-digit percentage for the year, with first quarter organic growth flat to slightly down and stronger results in the second half of the year driven by share gains.”

About Annie Palmer

Annie joined the NHPA staff in 2024 as a content development coordinator on the editorial team. Annie was born and raised in the Indianapolis area and graduated from Lipscomb University with a B.B.A. in Marketing. Her favorite hobbies include baking, photography, traveling and visiting coffee shops.

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