PPG Industries, a coatings company based in Pittsburgh, is scheduled to announce its second-quarter results on Thursday after the market closes. Here’s a breakdown of what to expect:
Sales
According to FactSet, PPG Industries is projected to report sales of $4.84 billion for the second quarter, an increase from $4.69 billion compared to the previous year.
Adjusted Earnings
FactSet also predicts that PPG Industries will post adjusted earnings of $2.13 per share, up from $1.81 per share in the same period last year.
Net Income
PPG Industries is expected to record a net income of $484.6 million for the second quarter, as reported by FactSet, which is higher than the $443 million recorded in the previous year.
What to Watch For
Results
Investors will be closely monitoring PPG Industries’ second-quarter results, particularly considering the mixed readings in the global economy. As inflation begins to cool in key markets worldwide, there may be potential cost benefits related to raw materials and other expenses. However, demand could still face challenges in the U.S. housing and construction markets. Analysts will be keen on understanding how PPG Industries navigated these factors during the quarter and their expectations for the future.
China
Given the heightened tensions between China and the U.S., it will be essential to pay attention to PPG Industries’ comments on its operations in China. In June, the company announced two vehicle-related ventures in China. CEO Tim Knavish emphasized the company’s cautious approach toward additional investments in China due to rising tensions but acknowledged that China remains a key growth market.