Filing Flows › PPG Industries (PPG) › Q1 2025
PPG Industries (PPG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
PPG Industries (PPG) reported revenue of $3.7B for the first quarter 2025 (Q1 2025), -4% from a year earlier and +70% from the quarter before. Operating margin was 16.5%, net earnings $373M (10.1% of revenue).
PPG Industries, Q1 2025: revenue $3.7B (-4% year over year), operating margin 16.5%, net earnings $373M, operating cash flow −$18.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +70% | -4% |
| Operating profit | $607M | — | -9% |
| Net earnings | $373M | — | -7% |
| Operating cash flow | −$18.0M | — | — |
What changed
Revenue was $3.7B in Q1 2025, down 4% year over year and up 70% from the previous quarter. Industrial Coatings was the largest line at 42% of revenue. Industrial Coatings lost $0.14B year over year (down 8%), 83% of the total change.
Operating profit was $0.61B, a 16.5% margin (down 0.8 points year over year). Total costs fell 3% while revenue fell 4%. Net earnings were $0.37B, down 7% year over year. The effective tax rate was 24.4%.
Operating cash flow was −$0.02B. Non-cash charges added back $0.12B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.54B. Capital expenditures of $0.21B exceeded it, leaving free cash flow of −$0.23B.
Questions
What was PPG Industries' revenue in the first quarter 2025?
PPG Industries (PPG) reported revenue of $3.7B for the first quarter 2025 (Q1 2025), -4% from a year earlier and +70% from the quarter before.
Was PPG Industries profitable in the first quarter 2025?
Operating profit was $607M (16.5% of revenue) and net earnings $373M.
Source: PPG Industries 10-Q on SEC EDGAR.