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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dave Begleiter | Deutsche Bank | 8 questions · 13% challenging |
| Kevin McCarthy | Vertical Research Partners | 7 questions · 29% challenging |
| Ghansham Panjabi | Robert W. Baird | 7 questions · 0% challenging |
| John Roberts | Mizuho Securities | 7 questions · 0% challenging |
| Chris Parkinson | Wolfe Research | 7 questions · 0% challenging |
| Duffy Fischer | Goldman Sachs | 6 questions · 17% challenging |
| Patrick Cunningham | Citigroup | 6 questions · 0% challenging |
| Vincent Andrews | Morgan Stanley | 6 questions · 33% challenging |
| Josh Spector | UBS | 6 questions · 33% challenging |
| John McNulty | BMO Capital Markets | 6 questions · 50% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Deutsche Bank | 1 analyst | 8 questions · 13% challenging |
| Vertical Research Partners | 1 analyst | 7 questions · 29% challenging |
| Mizuho Securities | 1 analyst | 7 questions · 0% challenging |
| Morgan Stanley | 2 analysts | 7 questions · 29% challenging |
| Robert W. Baird | 1 analyst | 7 questions · 0% challenging |
| UBS | 2 analysts | 7 questions · 29% challenging |
| Fermium Research | 2 analysts | 7 questions · 0% challenging |
| Wolfe Research | 1 analyst | 7 questions · 0% challenging |
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PPG closed FY2025 with adjusted EPS of $7.58, as Q4 delivered the strongest organic growth of over 3% for the year. Record aerospace sales and earnings continued with sustained investment, while Mexico recovery accelerated to high-single-digit organic growth. Management introduced FY2026 EPS guidance at mid-single-digit growth with flat to low-single-digit organic sales, as corporate expenses compressed Q4 results.
Demand | Competitive Dynamics | Margin | Revenue Growth | Capital Allocation | Guidance Reliability | Geographic Expansion | Pricing | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 2 | 2 | 4 | 2 | 3 | 3 | 2 |
| 2025Q1 | 12 | 5 | 3 | 4 | 1 | 4 | 2 | 2 |
| 2025Q2 | 8 | 5 | 5 | 5 | 2 | 1 | 2 | |
| 2025Q3 | 5 | 3 | 3 | 2 | 4 | 1 | 2 | 1 |
| 2025Q4 | 6 | 4 | 3 | 3 | 2 | 3 | 2 | 1 |
| 2026Q1 | 6 | 2 | 4 | 1 | 2 | 1 | 5 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 4 | 12 | 8 | 5 | 6 | 6 |
| Competitive Dynamics | 2 | 5 | 5 | 3 | 4 | 2 |
| Margin | 2 | 3 | 5 | 3 | 3 | 4 |
| Revenue Growth | 4 | 4 | 5 | 2 | 3 | 1 |
| Capital Allocation | 2 | 1 | 2 | 4 | 2 | 2 |
| Guidance Reliability | 3 | 4 | 1 | 1 | 3 | |
| Geographic Expansion | 3 | 2 | 2 | 2 | 2 | 1 |
| Pricing | 2 | 2 | 1 | 1 | 5 |
Calendar quarter Q4 2025Earnings call Jan 28, 2026
FY2025 Q4 in brief
PPG closed FY2025 with adjusted EPS of $7.58, as Q4 delivered the strongest organic growth of over 3% for the year.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for PPG Industries (PPG), FY2025 Q4: 8/10. Scores: PPG Industries’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: PPG daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.17B | -4.7% | $-1.20 | -415.8% | 17.6% | -12.9% | $148M |
| FY2025 Q1 | $3.68B | -4.0% | $1.63 | -3.6% | 13.1% | 10.1% | $-227M |
| FY2025 Q2 | $4.20B | -0.9% | $1.98 | -11.6% | 15.5% | 10.7% | $266M |
| FY2025 Q3 | $4.08B | +1.0% | $2.00 | 0.0% | 10.7% | 11.1% | $538M |
| FY2025 Q4Selected | $3.91B | +5.0% | $1.33 | +210.8% | 11.5% | 7.7% | $586M |
| FY2026 Q1 | $3.93B | +6.7% | $1.70 | +4.3% | 13.4% | 9.7% | $-163M |
| FY2026 Q2 | $4.50B | +7.2% | $1.95 | -1.5% | 14.1% | 9.7% | $472M |
| Year | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2022 | $17.65B | — | $4.33 | — | 9.7% | 5.8% | $445M |
| FY2023 | $18.25B | +3.4% | $5.34 | +23.5% | 11.5% |
GAAP revenue YoY +5.00% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
| 7.0% |
| $1.86B |
| FY2024 | $15.29B | -16.2% | $4.73 | -11.4% | 14.7% | 7.3% | $699M |
| FY2025Selected | $15.88B | +3.9% | $6.94 | +46.7% | 12.7% | 9.9% | $1.16B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
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|---|---|---|---|
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| ECL Ecolab | 8 | +4.8% | |
| IFF International Flavors & Fragrances | 6 | -6.6% | |
| LIN Linde plc | 6 | +5.8% | |
| LYB LyondellBasell | 2 | -25.3% | |
| SHW The Sherwin-Williams Company | 7 | +5.6% |