Coatings giant PPG has reported record third-quarter earnings per share as net sales climbed 7% year over year to $4.4 billion, driven by strong performance in its aerospace and architectural coatings businesses in Latin America.

 

Organic sales rose 5%, marking the company’s seventh consecutive quarter of growth. Reported earnings per diluted share (EPS) reached a record $2.12, while adjusted EPS increased 6% year over year to $2.25.

 

The company also strengthened its cash generation and shareholder returns. Cash from operating activities totaled approximately $1.2 billion year to date, up $100 million from the same period last year. PPG repurchased about $150 million of its shares during the quarter, taking year-to-date buybacks to $320 million.

 

Buoyed by the performance, PPG raised the midpoint of its full-year 2026 adjusted EPS outlook and narrowed its guidance range to $7.90–$8.10.

 

Tim Knavish, PPG chairman and chief executive officer, credited disciplined execution, commercial initiatives and strong demand in key businesses for the results.

 

“I am extremely encouraged by our performance as we delivered record third quarter EPS, an increase of +6% year over year. Our teams around the world executed with strong discipline, driving a solid 5% increase in organic sales, which marks our seventh consecutive quarter of growth. 

 

"We outpaced the industry by 300 basis points, reflecting the quality of our businesses and the impact of our commercial actions. Adjusted EBITDA was 18.2% supported by exceptional results in our differentiated aerospace and architectural coatings Latin America businesses.”

 

PPG’s Global Architectural Coatings segment delivered 2% organic sales growth, while EBITDA margin expanded 300 basis points to 24%. Performance in Latin America and selling-price actions across all regions supported the improvement.

 

In Europe, the architectural coatings business continued to benefit from strategic initiatives focused on productivity, footprint optimization and structural cost reductions. These measures are improving efficiency and supporting year-to-date earnings and margin expansion.

 

Knavish highlighted the impact of these initiatives on the business.

 

“Our European Architectural business is benefiting from the execution of our strategy, including productivity enhancements, footprint optimization, and structural cost actions that are improving efficiency and driving year-to-date earnings and margin expansion.”

 

PPG’s Performance Coatings segment delivered stronger growth, with organic sales rising 8% on higher volumes and selling prices.

 

Demand for aerospace and protective and marine coatings remained strong, while automotive refinish products also recorded higher organic sales. Improved sales mix and the company’s efforts to offset cost-of-goods-sold inflation helped drive adjusted EBITDA margin up 220 basis points to 24%.

 

The results underscore the contribution of PPG’s differentiated coatings businesses to its earnings performance, as the company enters the final stretch of 2026 with a higher midpoint for its full-year adjusted EPS guidance.