PPG Industries reported fourth-quarter 2024 net sales of $3.729 billion, a 5% decrease year-over-year, and a net income of $2 million, down 98%. Adjusted earnings per diluted share (EPS) for the quarter increased 3% to $1.61, including an unfavorable foreign currency impact of $0.05.
For the full year 2024, net sales were $15.845 billion, down 2% from the prior year, while adjusted EPS grew 6% to $7.87. The company generated $1.4 billion in operating cash flow and returned $1.4 billion to shareholders through approximately $750 million in share repurchases and $620 million in dividends.
PPG completed the divestitures of its silicas products and U.S. and Canada architectural coatings businesses in 2024, which strengthened its financial profile and improved its adjusted EBITDA margin to 18.1%. The company also expanded its segment reporting structure to include Global Architectural Coatings as a separate segment.
Looking ahead, PPG anticipates a slow start to 2025, with first-quarter organic growth expected to be flat to slightly down, but projects stronger performance in the second half. The company issued full-year 2025 adjusted EPS guidance in the range of $7.75 to $8.05, reflecting expected benefits from share gains and ongoing cost reduction programs.
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