PPG Industries Q2 Review: Solid Margin Performance But Auto Risks Remain

  • PPG Industries' Q2 results showed resilience in aerospace but ongoing weakness in autos and global architectural coatings, with margins outperforming expectations. Auto tariffs and sluggish global growth are likely to keep industrial coatings under pressure, limiting near-term earnings recovery, despite aerospace momentum. PPG's balance sheet remains strong, supporting its secure 2.5% dividend and modest buybacks, but free cash flow is seasonally weak and inventories are elevated.