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PPG · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 7.2% y/y to $4.50B, operating margin 13.3% vs 14.7%, net income $437M (−2.9% y/y).
Net income attributable to PPG
$437M
down 2.9% y/y
Net sales
$4,495M
up 7.2% y/y
Operating income (calculated)
$598M
down 2.9% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $4,495 · +7.2% |
| Cost of sales, exclusive of depreciation and amortization | $2,687 · +10.5% |
| Selling, general and administrative | $931 · +6.8% |
| Research and development, net | $107 · +0.9% |
| Depreciation and amortization (calculated) | $134 · −0.7% |
| Other charges, net | $38 · +11.8% |
| Operating income (calculated) | $598 · −2.9% · 13.3% margin |
| Interest expense, net of interest income (calculated) | $29 · +61.1% |
| Income before income taxes | $569 · −4.8% |
| Income tax expense | $127 · −9.3% · 22.3% effective rate |
| Loss from discontinued operations, net of tax | $2 · vs $0 |
| Net income attributable to noncontrolling interests | $3 · −62.5% |
| Net income attributable to PPG | $437 · −2.9% · $1.95/sh · 9.7% margin |
Verdict: revenue grew 7.2% y/y to $4.50B, operating margin 13.3% vs 14.7%, net income $437M (−2.9% y/y).
Diluted EPS $1.95 vs $1.98 a year earlier ($1.96 from continuing operations); adjusted EPS $2.23 (non-GAAP); full-year 2026 adjusted EPS guidance of $7.70 to $8.10 reaffirmed; share repurchases $75 million in the quarter.
Source and notation
Source: PPG Industries earnings release, 8-K EX-99 of 07/28/2026 (SEC EDGAR). The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match the company's 10-Q.
Open as an image: PPG, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “PPG Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/ppg/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/ppg/q2-2026"><img src="https://whoreportstoday.com/t/ppg/q2-2026/sankey.png" alt="PPG Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/ppg/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/ppg/q2-2026/sankey.png
<a href="https://whoreportstoday.com/t/ppg/q2-2026">PPG Q2 2026 earnings chart (Who Reports Today)</a>
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- Net sales rose 7% to $4,495M: sales volumes increased 2% and selling prices 2%, the sixth consecutive quarter of organic sales growth.
- Cost of sales grew faster than sales, to $2,687M from $2,432M, so income before income taxes fell to $569M from $598M.
- Operating income was $598M, a 13.3% margin vs 14.7% a year earlier.
- The effective tax rate was 22.3% vs 23.4% a year earlier.
- Diluted EPS was $1.95 vs $1.98 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
PPG — PPG Industries manufactures paints, coatings and specialty materials for construction, consumer products, automotive, aerospace and industrial customers.
Headquarters: Pittsburgh, Pennsylvania.
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