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Reporting soon: earnings call Tuesday, Oct 27
A pre-earnings brief is ready for PPG: the setup, what peers and partners said this season, and which analysts to watch.Reading it is a Tellvest Pro feature.
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 |
PPG posted Q1 adjusted EPS of $1.83, up 6%, with net sales of $3.9 billion increasing 7% year-over-year on 1% organic growth. Aerospace continued double-digit growth with a $350 million backlog, and Global Architectural segment income surged over 30%. Management reaffirmed FY2026 EPS guidance of $7.70-$8.10 despite geopolitical headwinds, while PMC delivered its twelfth consecutive quarter of volume growth.
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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 Q1 2026Earnings call Apr 29, 2026
FY2026 Q1 in brief
PPG posted Q1 adjusted EPS of $1.83, up 6%, with net sales of $3.9 billion increasing 7% year-over-year on 1% organic growth.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
GAAP revenue YoY +6.68% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for PPG Industries (PPG), FY2026 Q1: 6/10. 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 | Net margin | FCF |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.73B | — | $-1.20 | -415.8% | -7.5% | $148M |
| FY2025 Q1 | $3.68B | -4.3% | $1.63 | -3.6% | 10.1% | $-227M |
| FY2025 Q2 | $4.20B | -0.9% | $1.98 | -11.6% | 10.7% | $266M |
| FY2025 Q3 | $4.08B | +1.2% | $2.00 | 0.0% | 11.1% | $538M |
| FY2025 Q4 | $3.91B | +5.0% | $1.34 | +13300.0% | 7.7% | $586M |
| FY2026 Q1Selected | $3.93B | +6.7% | $1.70 | +4.3% | 9.7% | $-163M |
| FY2026 Q2 | $4.50B | +7.2% | $1.95 | -1.5% | 9.7% | $446M |
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).
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| PPGPPG Industries | 6 | +6.7% | Fifth consecutive quarter of organic growth despite challenging macro | |
| ALBAlbemarle Corporation | 9 | +32.7% | Revenue surges 33% with adjusted EBITDA more than doubling | |
| APDAir Products | 9 | +8.8% | Air Products delivered Q2 EPS of $3.20 growing 19% as sales rose 9% driven by volume-led growth across the core industrial gas portfolio, the strongest top-line performance in several quarters | |
| DDDuPont | 6 | -45.2% | Strong Start to 2026 with Beat and Raise | |
| ECLEcolab | 7 | +10.0% | Adjusted EPS grows 13% with accelerating organic momentum | |
| IFFInternational Flavors & Fragrances | 6 | -3.6% | Solid 3% CCN growth with all segments contributing | |
| LINLinde plc | 9 | +8.3% | Sales surged 8% to $8.8 billion with EPS of $4.33 up 10%, or 5% excluding favorable currency translation, as margin expansion tracked at the upper end of the range | |
| LYBLyondellBasell | 4 | -6.3% | Middle East conflict disrupts >20% of global PE/PP capacity | |
| SHWThe Sherwin-Williams Company | 6 | +6.8% | Aggressive share gains across all segments |
Fifth consecutive quarter of organic growth despite challenging macro
Revenue surges 33% with adjusted EBITDA more than doubling
Air Products delivered Q2 EPS of $3.20 growing 19% as sales rose 9% driven by volume-led growth across the core industrial gas portfolio, the strongest top-line performance in several quarters
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| PPG | 5 | 5 | 4 | 2 | 8 | 6 |
| ALB | 3 | 2 | 3 | 4 | 9 | 9 |
| APD | 4 | 2 | 6 | 6 | 7 | 9 |
| DD | 8 | 7 | 7 | 7 | 5 | 6 |
| ECL | 7 | 6 | 5 | 7 | 8 | 7 |
| IFF | 6 | 5 | 6 | 4 | 6 | 6 |
| LIN | 7 | 5 | 7 | 7 | 6 | 9 |
| LYB | 3 | 2 | 2 | 2 | 2 | 4 |
| SHW | 6 | 5 | 3 | 6 | 7 | 6 |
Adjusted EPS grows 13% with accelerating organic momentum
Solid 3% CCN growth with all segments contributing
Sales surged 8% to $8.8 billion with EPS of $4.33 up 10%, or 5% excluding favorable currency translation, as margin expansion tracked at the upper end of the range
Middle East conflict disrupts >20% of global PE/PP capacity