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Net sales of $3.9 billion, an increase of 7% versus prior year
Organic sales increased 1% year over year driven by higher selling prices
First quarter reported earnings per diluted share (EPS) of $1.70 and adjusted EPS of $1.83, an increase of 6% year over year
Segment margin of 16% and segment EBITDA margin of 19%
Share repurchases in the quarter totaled about $100 million
Reaffirms full-year 2026 EPS guidance range of $7.70 to $8.10
PITTSBURGH, April 28, 2026–(BUSINESS WIRE)–PPG (NYSE:PPG) today reported financial results for the first quarter 2026.
First Quarter 2026 Consolidated Results
$ in millions, except EPS | 1Q 2026 | 1Q 2025 | YOY change |
Net sales | $3,930 | $3,684 | +7% |
Net income (a) | $382 | $375 | +2% |
Adjusted net income (a)(b) | $411 | $396 | +4% |
EPS (a) | $1.70 | $1.64 | +4% |
Adjusted EPS (a)(b) | $1.83 | $1.72 | +6% |
(a) From continuing operations (b) Reconciliations of reported to adjusted figures are included below | |||
Chairman and CEO Comments
Tim Knavish, PPG chairman and chief executive officer, commented on the quarter:
In the first quarter, PPG delivered organic sales growth of 1%, demonstrating our ability to maintain growth momentum in a challenging environment. We delivered higher selling prices, with further selling price realization targeted to offset any inflationary impact more quickly than prior cycles. Adjusted EPS increased 6% driven by strong results in our differentiated aerospace and architectural coatings Latin America businesses, reflecting the benefits of our technology-advantaged products and strong brand recognition, along with excellent commercial execution.
Our Global Architectural Coatings segment achieved low single-digit percentage organic sales growth and EBITDA margin improvement of 230 basis points driven by strength in Latin America. In Europe, demand remains mixed whereas in Mexico, project-related sales are recovering and retail sales were especially strong.
Performance Coatings segment organic sales grew a low single-digit percentage benefitting from strong demand for aerospace and protective and marine coatings products. Aerospace industry growth is expected to remain robust, and our order backlog positions us well to deliver consistent above-industry growth in this key end market.
In our Industrial Coatings segment, we are delivering on previously communicated share gains in automotive original equipment manufacturer (OEM) coatings and packaging coatings, which allowed us to grow above industry levels. However, margins in the first quarter were negatively impacted by regional mix as China automotive production dropped in comparison to a particularly high level in the first quarter of last year. Results for packaging coatings were outstanding as we increased both organic sales and EBITDA margin.
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Read More: PPG reports first quarter 2026 financial results
