PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

JPCL FREE Trial

Paint and Coatings Industry News

Main News Page


PPG Posts Q2 Sales and Earnings

Tuesday, August 18, 2009

Comment | More

PPG Industries (Pittsburgh, PA) reported that it ended the second quarter of 2009 with more than $1 billion of cash on hand and with an increase in earnings over Q4 2008 and Q1 2009. Sales for Q2 2009, which ended June 30, were $3.1 billion, a decline of 30% and $1.4 billion, versus Q2 2008.

Charles E. Bunch, chairman and CEO, stated, “While sales and earnings were down versus last year, our cash generation was up 25%, and our earnings rose considerably in comparison to the previous two quarters.” He noted that the coatings segments combined with the Optical and Specialty Materials segment accounted for 90% of total segment earnings and were considerably stronger than the previous quarter. “Specifically, our Architectural Coatings—EMEA and Performance Coatings segments delivered nearly flat year-over-year earnings in local currencies,” said Bunch.

The Performance Coatings segment decreased by 16%, or $203 million, compared to Q2 2008. The protective and marine coatings and aerospace businesses experienced mild volume declines.

The Industrial Coatings segment’s sales fell by $411 million, or 36%, and segment earnings were $28 million, down by $81 million from Q2 2008. However, earnings in the segment were $68 million higher than in the fourth quarter of 2008.

Architectural Coatings—EMEA segment fell by $140 million, or 21%, but volume trends improved from Q1 2009.

Optical and Specialty Chemicals were down by $55 million, or 18%, as a result of lower sales volumes, including a 35% decline in silicas business sales. Commodity Chemicals had a sales decline of $176 million, or 36%.

Glass segment sales decreased by $374 million compared with the prior year due largely to the AG&S business divestiture, according to the company.

   

Tagged categories: Finance; PPG

Comment Join the Conversation:

Sign in to our community to add your comments.

DeHumidification Technologies
HUMIDITY PROBLEMS?

DH Tech has the most innovative and reliable equipment available to
control humidity efficiently
and effectively.
IT'S UNDER CONTROL!


CS Unitec
Surface Prep Tools for Hazardous Conditions

CS Unitec's Trelawny™
line of surface prep tools
is safe and efficient for
use in marine & protective coatings applications including Ex Zones & Hot Work Zones.


KTA-Tator, Inc. - Corporate Office
KTA Analyzes
Coating Failures

• Field Diagnosis
• Lab Diagnosis
• Determination of Cause
• Recommendations
www.kta.com
800-245-6379


Carboline Company
Hyrdrocarbon Fire & Jet Fire Protection

Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


Blastox/The TDJ Group, Inc.
Blastox - One Step
Lead Abatement

Don't waste $$ on added labor steps with other methods. Don't mix, meter or apply at the job-site. Avoid strict hazardous waste rules.
Let your painters paint!


DRYCO
DEHUMIDIFICATION FOR
ANY SIZE PROJECT!

Temporary climate control equipment. Dehumidifiers,
Heaters, A/C, Power, More…
Toll Free: 866-379-2600


Graco Inc.
Learn more and sign-up for a Free Demo

The XForce HD Cordless Airless Sprayer is designed for spot repair, small jobs and touch-up. Easily sprays the toughest protective and marine coatings.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com