Ppg Industries Inc

Company facts

Industry

Paints, Varnishes, Lacquers, Enamels & Allied Prods

Headquarters

Pittsburgh, Pennsylvania

Most recent report

10-Q, filed Oct 28, 2026

Incorporated

Pennsylvania

Filings on record

1,002+ filings

On EDGAR

CIK 79879

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 3 positive, 8 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Balance-sheet swings, debt activity, discontinued ops loss, and environmental reserves all carry company-specific numbers.
  Notable

  • Total debt-to-capitalization covenant ratio was 43% at Sep 2026, well below the 60% limit.
  • PPG issued CHF320M Swiss franc notes in Jun 2026, net proceeds $403M, designated as net investment hedge.

• Management's Discussion (Item 2)

  Full MD&A with key results, segment divergence, and tariff/macro impacts.
  Positive

  • Net sales up 7% to $4.4B in Q3 2026, with price (+3%) and volume (+2%) driving growth.
  • Income before income taxes rose $75M to $631M in Q3 2026, helped by aerospace, Latin America architectural, and refinish coatings.
  • Cash from operations increased $104M to $1.158B for nine months 2026 due to improved working capital performance.
  Notable

  • Tariffs had no significant adverse impact in first nine months of 2026; company continues to monitor and prepare actions.
  • Middle East conflict raised raw material/energy costs; company made 3% price adjustments in Q3 2026 fully offsetting inflation.
  • Repaid $700M 1.2% notes in March 2026 using cash on hand; issued CHF 180M/140M notes in June 2026 and entered €250M Euro credit facility.
  Negative

  • Industrial Coatings segment income fell 14.2% in Q3 2026 ($200M vs $233M) due to cost of goods sold inflation.

• Legal Proceedings (Item 1)

  A $700M+ judgment against PPG, with Westlake refusing to pay, creates a massive liquidity risk.
  Notable

  • PPG settled a Pennsylvania environmental citizen suit with a $250K donation and enhanced cleanup plan.
  • Special Master recommended $9M in attorneys' fees for the Pennsylvania environmental suit; judge reviewing.
  • PPG sued Westlake in Delaware to enforce indemnification; trial held May 2025, decision expected late 2026/early 2027.
  Negative

  • Brazilian court entered a $700M+ award against PPG; Westlake won't pay or post bond, leaving PPG exposed.
  • Westlake informed PPG it will not post bond, pay judgment, or prevent execution against PPG.

What changed: Sep 2026 vs. Jun 2026

About 5% of PPG's Sep 2026 10-Q is new information. 19 paragraphs were added, 179 changed, and 18 removed. Below are the most important lines SECSift identified.

• Item 1 77
• Item 2 64
• Item 5 5
• Item 3 5
• Item 6 2