Tepid demand impacts PPG Q1 sales

PPG had net sales of $4,311 million for the first quarter of 2024, a decrease of 2 percent compared to net sales of $4,380 million in the first quarter of 2023. Sales were impacted by lower demand in Europe and ongoing tepid global demand. Net income was $400 million for the quarter, up 52 percent compared to net income of $264 million in the year-ago period. Adjusted net income was $441 million, up two percent compared to $432 million in the year-ago period. The Performance Coatings segment net sales were down one percent year over year; the Industrial Coatings segment net sales were down three percent.