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PPG Industries Q2 sales increase 16%

23 Jul '13

4 min read

Architectural Coatings – EMEA (Europe, Middle East and Africa) segment sales for the quarter were $571 million, a decline of $30 million, or 5 percent, versus the prior year due to volume declines. Demand fell due to continued weakness in economies throughout the region. Despite the negative sales impact, segment earnings of $69 million grew by $5 million versus the prior year, aided by aggressive discretionary cost-management actions and cost improvement stemming from prior restructuring actions.

Second quarter 2013 Optical and Specialty Materials segment sales were $326 million, up $12 million, or 4 percent, versus strong prior-year results led by single-digit percentage volume gains in both optical products and silicas. Segment earnings of $96 million were up 1 percent versus the record second quarter level established in the prior year.

Glass segment sales were $269 million for the quarter, down $4 million year over year. Volumes declined in both fiber glass and flat glass, and they were partly offset by higher flat glass pricing. Segment earnings were $8 million, a decrease of $15 million from the prior-year quarter. Earnings were impacted by the lower sales, reduced equity and international licensing earnings and the negative impact of inflation, including higher transportation and natural gas unit costs.

PPG Industries