PPG recently reported third quarter 2016 net sales of $3.8 billion.
PPG recently reported third quarter 2016 net sales of $3.8 billion, up almost 2% vs. the prior-year figure of $3.7 billion. Sales volumes grew 1.6% and acquisition-related sales contributed more than 2%, partly offset by a slight decline in selling prices. Unfavorable foreign currency translation impacted net sales by nearly 2%, or about $65 million.
“We grew adjusted earnings per share by 1% vs. the prior year, which is well below our expectations but reflective of the sluggish global economy,” said Michael H. McGarry, chairman and CEO. “Our third-quarter global sales volumes grew 1.6% despite a noticeable and broad deceleration of volume growth trends in Europe, where most of our coatings businesses experienced lower growth rates compared to the second quarter.”