Earnings Call
Jul 28, 2026
Q2 FY2026
EPS Estimate
2.25
EPS Actual
2.23
Post-Earnings Close
$111.83
Earnings Reaction
-6.0%
PPG's second quarter 2026 results reflect a company executing well against a backdrop complicated by the Iran conflict's ripple effects through raw material, energy, and logistics costs. Net sales of $4.5 billion rose 7% year-over-year, with organic growth of 4% split evenly between volume and price, the sixth consecutive quarter of organic expansion. Adjusted EPS of $2.23 came in just below the $2.25 consensus estimate, with the shortfall attributable almost entirely to a sharp year-over-year decline in Automotive Refinish volumes rather than any broad deterioration in the business. Management reaffirmed full-year adjusted EPS guidance of $7.70, $8.10, signaling confidence that the Refinish headwind is transitory and that pricing momentum will close the remaining cost-inflation gap by Q4.
Report generated on Jul 30, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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