Filing Flows › PPG Industries (PPG) › Q2 2026 › vs Q1 2026
PPG Industries (PPG) Q2 2026 vs Q1 2026 (quarter over quarter)
PPG Industries's revenue rose $565M (+14%) from $3.9B in Q1 2026 to $4.5B in Q2 2026. The biggest changes: Performance Coatings +$285M (+21%); Industrial Coatings +$147M (+9%); Global Architectural Coatings +$133M (+14%). Operating margin 16.5% against 16.2% (+0.3 pts).
PPG Industries, Q2 2026: revenue $4.5B (+7% year over year), operating margin 16.5%, net earnings $437M, operating cash flow $559M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 16.5% | 16.2% | +0.3 pts |
| Net margin | 9.7% | 9.7% | +0.0 pts |
| Free cash flow margin | 9.9% | -4.1% | +14.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Industrial Coatings | $1.8B | $1.6B | $147M | +9% |
| Performance Coatings | $1.6B | $1.3B | $285M | +21% |
| Global Architectural Coatings | $1.1B | $965M | $133M | +14% |
| Revenue | $4.5B | $3.9B | $565M | +14% |
| Operating profit | $743M | $636M | $107M | +17% |
| Costs & expenses | $3.8B | $3.3B | $458M | +14% |
| Pre-tax earnings | $567M | $517M | $50.0M | +10% |
| Other expense, net | $176M | $119M | $57.0M | +48% |
| Cost of revenue | $2.7B | $2.3B | $412M | +18% |
| Research & development | $107M | $113M | −$6.0M | -5% |
| SG&A | $931M | $885M | $46.0M | +5% |
| Other operating costs | $27.0M | $21.0M | $6.0M | +29% |
| Net earnings | $437M | $382M | $55.0M | +14% |
| Minority interests | $3.0M | $3.0M | $0 | 0% |
| Income tax | $127M | $132M | −$5.0M | -4% |
| Depreciation & amortization | $134M | $132M | $2.0M | +2% |
| Share-based compensation | $16.0M | $11.0M | $5.0M | +45% |
| Working capital & other | $28.0M | $492M | −$464M | -94% |
| Operating cash flow | $559M | $33.0M | $526M | 17× |
| Free cash flow (OCF − capex) | $446M | −$163M | $609M | — |
| Capital expenditures | $113M | $196M | −$83.0M | -42% |
Questions
How much did PPG Industries's revenue grow quarter over quarter in Q2 2026?
PPG Industries's revenue rose $565M (+14%) from $3.9B in Q1 2026 to $4.5B in Q2 2026.
What drove PPG Industries's revenue change in Q2 2026?
Performance Coatings +$285M (+21%); Industrial Coatings +$147M (+9%); Global Architectural Coatings +$133M (+14%).