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Sep 30, 2025
PPG Q3 2025 Earnings Report
PPG reported solid Q3 2025 results with record adjusted EPS and continued share repurchases.
Key Takeaways
PPG delivered a strong third quarter, achieving record adjusted EPS of $2.13 and net income of $444 million. Revenue rose slightly year-over-year, supported by organic growth in key coatings segments. Operational efficiency and strategic focus on high-performing sectors like aerospace and OEM coatings drove profitability.
Achieved record adjusted EPS of $2.13 for a third quarter.
Net income remained stable at $444 million.
Share repurchases reached $150 million during the quarter.
Strong performance in aerospace, marine, and OEM coatings offset softness in refinish and architectural segments.
Revenue by Segment
Forward Guidance
PPG expects to continue organic growth in Q4 despite macro challenges, driven by strength in aerospace, marine, and industrial coatings.
Positive Outlook
- Continued above-market growth in OEM coatings.
- Strong demand for aerospace and marine coatings.
- Incremental recovery in architectural coatings in Mexico.
- Operational efficiencies expected to deliver $75 million in savings.
- Strong portfolio of tech-differentiated products supporting pricing.
Challenges Ahead
- Softening global demand compared to early 2025.
- Inventory adjustments expected in refinish coatings.
- Modest sales decline in architectural coatings in Europe.
- Lower demand in U.S. refinish due to industry-wide claims decline.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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