Industrial Segment Leads PPG Sales

PPG had net sales of $4.5 billion for the third quarter of 2022, an increase of two per cent over net sales of $4.4 billion in the third quarter of 2021. Net sales in constant currencies increased eight per cent year over year. Third quarter net sales for the performance coatings segment decreased two per cent year over year while net sales in the industrial coating segment increased nine per cent. Overall net income was $329 million for the quarter, a decrease of four per cent compared to $344 million in the year-ago period. The company says results were impacted by inflationary cost pressures and increased energy costs.