PPG INDUSTRIES INC
For the period ended Jun 30, 2024. Filed Jul 19, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 19, 2024
PPG$124.42-0.7%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Statement of Income
Condensed Consolidated Statement of Income (Unaudited)
| Three Months Ended June 30 | Six Months Ended June 30 | |||
|---|---|---|---|---|
| ($ in millions, except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Net sales | $4,794 | $4,872 | $9,105 | $9,252 |
| Cost of sales, exclusive of depreciation and amortization | 2,734 | 2,866 | 5,179 | 5,462 |
| Selling, general and administrative | 1,077 | 1,069 | 2,141 | 2,061 |
| Depreciation | 98 | 93 | 201 | 185 |
| Amortization | 36 | 40 | 74 | 81 |
| Research and development, net | 111 | 110 | 220 | 214 |
| Interest expense | 62 | 67 | 117 | 126 |
| Interest income | (45) | (32) | (87) | (57) |
| Pension settlement charge | — | — | — | 190 |
| Other charges/(income), net | 28 | 13 | 29 | (9) |
| Income before income taxes | $693 | $646 | $1,231 | $999 |
| Income tax expense | 156 | 149 | 285 | 229 |
| Net income attributable to controlling and noncontrolling interests | $537 | $497 | $946 | $770 |
| Net income attributable to noncontrolling interests | (9) | (7) | (18) | (16) |
| Net income (attributable to PPG) | $528 | $490 | $928 | $754 |
| Earnings per common share (attributable to PPG) | $2.25 | $2.08 | $3.95 | $3.20 |
| Earnings per common share (attributable to PPG) - assuming dilution | $2.24 | $2.06 | $3.93 | $3.18 |
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