Earnings Summary: Highlights of PPG Industries’ Q2 2023 results

PPG Industries, Inc. (NYSE: PPG), a leading manufacturer of paints, coatings, and specialty materials, on Thursday, reported financial results for the second quarter of 2023.

• Second-quarter net sales increased to a record high of $4.9 billion from $4.69 billion in the year-ago quarter
• Organic sales growth was 4% year over year, which mainly reflects higher selling prices
• Unadjusted earnings per share rose to $2.06 during the three-month period from $1.86 last year
• Adjusted earnings advanced to an all-time high of $2.25 per share in Q2 from $1.81 per share a year earlier
• Year-to-date operating cash flow was an impressive $620 million, which is up $750 million YOY
• The company raised its full-year adjusted earnings guidance to the range of $7.28 per share to $7.48 per share