PPG Industries (PPG) Increases Q3 Sales Estimates

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Go back to PPG Industries (PPG) Increases Q3 Sales Estimates

PPG Provides July Sales Update and Increases Third Quarter 2020 Sales Estimates

August 11, 2020 8:16 AM EDT

PITTSBURGH--(BUSINESS WIRE)-- PPG (NYSE: PPG) today announced that aggregate company net sales for July exceeded the companys original estimate, reflecting a continuation of the solid demand recovery experienced in June. Due to the stronger sales performance in July, the company now expects third quarter 2020 sales volumes versus the third quarter 2019 to be down 6% to 11%, excluding foreign currency translation, compared to the previously expected year-over-year decrease of 8% to 15%.

In addition, the company now expects third quarter operating margin decrements to be between 10% to 15%, which is better than the approximate 25% experienced in... More