PPG is the second largest coatings company in the world by revenue, behind Sherwin-Williams. The company delivered record results in several businesses including aerospace coatings, protective and marine coatings, and packaging coatings, supported by sales of technology-advantaged products and strong brands. PPG's structural cost reduction initiatives delivered $75 million in benefits in 2025, with an additional $50 million expected in 2026.
Cyborg Score Rationale
PPG delivered net sales of $15.9 billion in 2025 with adjusted EPS of $7.58. The company guides 2026 adjusted EPS growth of mid-single-digit percentage despite soft global industrial production and mixed regional demand. Strong market positioning and cost controls offset near-term macro headwinds.
Top Insights
Performance Coatings segment delivered double-digit growth in aerospace and protective/marine coatings, plus high single-digit growth in packaging coatings in 2025.
PPG announced in October 2024 intent to sell its architectural coatings business in the U.S. and Canada to American Industrial Partners for $550 million, indicating portfolio optimization.
The company returned $1.42 billion to shareholders in 2025 through $790 million in stock repurchases and $630 million in dividends.
European manufacturing consolidation and structural cost reductions are expected to generate incremental $50 million in savings in 2026.
Named Competitors
Sherwin-Williams — Leading global coatings manufacturer
Eastman Chemical — Specialty chemicals and advanced materials
Covestro — High-performance plastics and coatings
Sika — Specialty chemicals for construction and industry
Recent Developments
(February 2026) Zacks Research reduced Q1 2026 EPS estimates to $1.69 per share
(January 2026) Sanford C. Bernstein raised price target from $123 to $130 with outperform rating
(October 2024) PPG announced agreement to sell U.S. and Canadian architectural coatings business to American Industrial Partners for $550 million
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