Q4 PPG sales up four percent year over year

PPG had sales of $4.4 billion in the fourth quarter of 2023, up four percent over net sales of $4.2 billion in the fourth quarter of 2022, including organic sales growth of one percent. Net sales for the performance coatings segment increased five percent year over year, led by higher selling prices and favourable foreign currency translation. Sales for the industrial coatings segment were slightly higher than the fourth quarter of 2022, aided by favourable foreign currency translation. Overall net income for the company was $90 million for the quarter, down 62 percent compared to net income of $238 million in the prior-year period.