PPG Industries gains after Q1 profit beat

PPG Industries

30/04/2025 15:52

Updates

** Shares of global paint supplier PPG Industries PPG.N rise 3.4% to $107.34

** Co beat Q1 profit estimates on higher sales at its performance coatings segment

** PPG posts Q1 adj profit of $1.72/shr vs analysts' expectation of $1.62/shr - data compiled by LSEG

** Performance coatings segment net sales rose to $1.27 billion compared with $1.18 billion a year earlier

** PPG expects to deliver $75 million in annual savings this year, along with additional cost management actions

** Brokerage Mizuho raises price target to $125 from $118; implying a 20.4% upside to stock's last close

** Including session's moves, company's shares are down 7% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))