PPG Industries, Inc. - PPG STOCK NEWS

PPG (NYSE:PPG) has completed a COLORFUL COMMUNITIES® project in West Palm Beach, Florida, in collaboration with Heart of America. Over 100 global leaders from PPG participated, revitalizing the Florence De George Boys & Girls Club by repainting various areas. More than 120 gallons of PPG PURE PERFORMANCE® paint were donated, alongside financial support for STEM activities. The club serves over 220 students, offering educational and personal development programs. PPG's Colorful Communities initiative aims to enhance local environments through volunteer efforts and donations, impacting over 7.5 million people globally since 2015.

PPG reported fourth quarter 2022 net sales of $4.2 billion, up 5% in constant currencies. Earnings per diluted share from continuing operations were $1.01, with adjusted EPS at $1.22. The company achieved a record full-year 2022 sales of approximately $17.7 billion. However, net income for the fourth quarter decreased by 11% to $238 million, reflecting a higher effective tax rate which reduced EPS by $0.25 year-over-year. While the company faced challenges, including a 5% decline in sales volume due to pandemic impacts in China, it anticipates a recovery with several positive catalysts in 2023.

The Board of Directors of PPG has declared a quarterly dividend of 62 cents per share, payable on March 10 for shareholders of record as of February 17. This dividend marks the company's 498th consecutive payment and follows a tradition of increasing annual dividends for 51 consecutive years. PPG, headquartered in Pittsburgh, reported net sales of $16.8 billion in 2021, serving various markets including construction and transportation.

PPG (NYSE: PPG) has appointed Pedro Serret Salvat as president and general counsel for PPG EMEA, effective immediately. He takes over from Ram Vadlamannati, who will lead a new operations organization while overseeing the EMEA region. Serret Salvat has been with PPG since 2011 and has extensive experience in legal affairs and leadership. His role will focus on maximizing growth through operational alignment across Europe, the Middle East, and Africa.

PPG (NYSE:PPG) has announced leadership changes effective immediately, aimed at enhancing its global operations. Ram Vadlamannati will lead a newly established operations organization, overseeing various functions including supply chain and manufacturing, while maintaining leadership in the EMEA region. Amy Ericson steps into the role of senior vice president for protective and marine coatings and will oversee the Latin America region. Kevin Braun will manage global automotive and specialty coatings, and Chancey Hagerty will continue as vice president for global automotive refinish while overseeing the Asia Pacific region.

PPG (NYSE: PPG) announced the details of its fourth-quarter 2022 earnings release, scheduled for January 19, after U.S. stock markets close. A teleconference call will follow on January 20 at 8 a.m. ET, featuring PPG’s executives including Tim Knavish and Vincent J. Morales. Dial-in registration is available online, and a live webcast can be accessed via the PPG Investor Center. Replay options for the call will be available until February 3, 2023.

PPG (NYSE: PPG) announced the completion of a COLORFUL COMMUNITIES® project in Des Plaines, Illinois, revitalizing facilities for the nonprofit Clean Up – Give Back. The initiative involved 30 volunteers from PPG and Ardagh Metal Packaging, who enhanced the organization's new headquarters with fresh paint and murals. Clean Up – Give Back has nearly 1,400 volunteers who contributed over 9,500 service hours in 2021, collecting more than 41,000 pounds of trash. PPG's Colorful Communities program supports such projects globally, having completed over 400 initiatives since 2015.