Ppg Industries, Inc. · NYSE:PPG
Ppg Industries — Q3 2025 Earnings Presentation
17 slides from Ppg Industries's earnings presentation, Oct 29, 2025
Slide 1: Third Quarter 2025 Financial Results
Third Quarter 2025 Financial Results October 28, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. You can identify forward-looking statements by the fact that they do not relate strictly to current or historic facts. Fo
Slide 3: Third Quarter 2025 Highlights
Third Quarter 2025 Highlights Share Repurchases Third consecutive quarter of sales volume growth ~$150MM Growth momentum led by aerospace, protective and marine, packaging, and automotive OEM Record Adjusted EPS Automotive OEM net sales +8% reflecting share gains and customer mix $2.13 +5% Low autom
Slide 4: Third Quarter Net Sales
Third Quarter Net Sales Organic sales up 2% driven by strength in Industrial Coatings segment Net Sales ($ in millions) 2% 1% $4,082 Selling prices: Positive with targeted increases 1% $4,032 -3% partially offset by carryover of index-based pricing in certain customer contracts Volumes: Growth in In
Slide 5: Global Architectural Coatings
Global Architectural Coatings Growth in Mexico offset by lackluster European demand Net Sales 3Q’25 21.0% ($ in millions) Segment 4% EBITDA +20 bps 2% $1,012 Margin $1,004 -2% -3% 3Q’25 Organic Sales Results 3Q'24 Price Volume Currency Divestitures & 3Q'25 Other Architectural LSD EMEA Highlights Arc
Slide 6: Performance Coatings
Performance Coatings Organic sales growth of 2% with strength in aerospace and protective and marine coatings Net Sales 3Q’25 21.7% ($ in millions) Segment 4% EBITDA 1% $1,414 -280 bps $1,373 Margin -2% 3Q’25 Organic Sales Results 3Q'24 Price Volume Currency 3Q'25 Aerospace DD Refinish DD Highlights
Slide 7: Performance Coatings Segment is a Growth Engine
Performance Coatings Segment is a Growth Engine Aerospace expected to accelerate organic sales growth Aerospace Net Sales 3-Year CAGR 2025-2028 Est. Aerospace Net Sales 10-Year CAGR +MSD to +HSD% +MSD% 2015 2025E Automotive Refinish Aerospace Protective & Marine Traffic Solutions 7 Note: Bar chart r
Slide 8: Aerospace Trends Driving Increased Demand for PPG Products
Aerospace Trends Driving Increased Demand for PPG Products PPG is investing >$0.5B to capture profitable multi-year OEM and aftermarket growth PPG Aerospace Coatings, Transparencies and Passenger Aircraft Delivery Sealants Investment # of Aircraft Advantages • #1 industry position • Supporting the g
Slide 9: Industrial Coatings
Industrial Coatings Strong volume growth driven by share gains and demand for technology advantaged products Net Sales 3Q’25 17.0% ($ in millions) Segment 4% 1% EBITDA $1,655 $1,656 +180 bps Margin -1% -4% 3Q’25 Organic Sales Results 3Q'24 Price Volume Currency Divestitures 3Q'25 Auto OEM MSD and Ot
Slide 10: Strong Balance Sheet and Cash
Strong Balance Sheet and Cash Cash deployment focused on shareholder value creation 3Q’25 Activity Cash Deployed to Shareholders ($ in millions) $600 $1.9B $310MM $500 Cash Balance Dividends and Share $400 September 30, 2025 Repurchases $300 $200 $5.4B 2.0x $100 Net Debt Net Debt / Adjusted $0 Septe
Slide 11: Fourth Quarter and Full-Year 2025 Financial Projections
Fourth Quarter and Full-Year 2025 Financial Projections Fourth Quarter 2025 Full Year 2025 Adjusted EPS $7.60 - $7.70 per share Segment organic sales (YOY %): Flat to +LSD +LSD Global Architectural Coatings Flat to +LSD -LSD to Flat Performance Coatings -LSD to Flat +LSD to +MSD Industrial Coatings
Slide 12: PPG: A Compelling Long-Term Investment
PPG: A Compelling Long-Term Investment Coatings and digital services that enable Leading Positions in All Coatings Verticals customer productivity Strong Brands, Technologies and Services Organic and inorganic growth opportunities Asset-Light, Highly Flexible Cost Structure Accelerating margin expan
Slide 13: Appendix
Appendix
Slide 14: Segment Margin Reconciliation
Segment Margin Reconciliation $ in millions, except margin % 2023 2024 2025 Global Architectural Coatings FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Segment Margin, As Reported 16.7% 17.2% 19.7% 18.2% 13.4% 17.3% 13.8% 15.7% 18.2% Net Sales $4,021 $966 $1,070 $1,004 $881 $3,921 $857 $1,018 $1,012 Segment Income 673
Slide 15: Adjusted EBITDA Reconciliations
Adjusted EBITDA Reconciliations $ in millions, except margin % 2024 2025 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 FY Reported net income from continuing operations $ 405 $ 493 $ 444 $2 $ 1,344 $ 375 $ 450 $ 444 $ 1,269 Interest expense, net of interest income 13 17 19 15 64 13 18 23 54 Income tax expense 128 149 128
Slide 16: Adjusted EPS Reconciliation
Adjusted EPS Reconciliation $ in millions, except EPS Total PPG Third Quarter 2025 Net Income EPS(a) Net Income from Continuing Operations, As Reported $ 444 $ 1.96 Acquisition-related amortization expense 24 0.11 Business restructuring-related costs, net(b) 7 0.03 Portfolio optimization(c) - - Impa
Slide 17: Thank You For Your Interest In PPG
Thank You For Your Contact Information: Interest In PPG INVESTORS: Alex Lopez phone: +1 412 434 3466 email: alejandrolopez@ppg.com MEDIA: Greta Edgar Borza phone: +1 724 316 7552 email: edgar@ppg.com 17