PPG Industries (PPG) Q2 Revenue Tops Consensus

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Go back to PPG Industries (PPG) Q2 Revenue Tops Consensus

PPG Reports Second Quarter 2020 Financial Results

July 16, 2020 4:15 PM EDT

Net sales of $3.0 billion, 25% lower than the prior year and down about 22% in constant currencies Reported earnings per diluted share from continuing operations (EPS) of $0.42 and adjusted EPS of $0.99 Net sales and EPS were significantly impacted by the effects of the COVID-19 pandemic Strong aggregate segment operating margins supported by rapid implementation of cost management actions that resulted in second quarter interim cost savings of about $170 million and more than $20 million of structural cost savings Strong liquidity; cash and short-term investments of approximately $2.3 billion at quarter-end; net debt reduced by about... More