PPG reports fourth quarter and full-year 2017 financial results

PPG has paid uninterrupted annual dividends since 1899

Fourth quarter net sales of approximately USD 3.7 billion, up about 8% versus prior year; fourth quarter reported earnings per diluted share from continuing operations of USD 0.72 and adjusted earnings per diluted share from continuing operations of USD 1.19; sales volume growth of 3% in the fourth quarter versus prior year; share repurchases of USD 400 million in the fourth quarter and slightly more than USD 800 million for the year; strong financial flexibility with approximately USD 1.5 billion of cash and short-term investments at year-end; commitment to deploy at least USD 2.4 billion on acquisitions and share repurchases in 2018.

PPG has reported fourth quarter 2017 net sales of approximately USD 3.7 billion, up nearly 8% versus the prior year. Sales volumes increased by 3% year-over-year and selling prices improved sequentially for the third consecutive quarter, adding less than 1% to sales growth. Favourable foreign currency translation improved net sales by more than 3%, or about USD 115 million, and acquisitions-related sales, net of divestitures, added less than 1% to sales growth.
The board of directors of PPG declared a regular quarterly dividend of 45 cents per share, payable 12 March to shareholders of record 16 February.
This marks the company’s 478th consecutive dividend payment. PPG has paid uninterrupted annual dividends since 1899.
The board of directors of PPG declared a regular quarterly dividend of 45 cents per share, payable 12 March to shareholders of record 16 February.