2024 Financial Highlights and PPG Shareholder Information
2024 Overview
| Item | 2024 | 2023 | 2022 |
| (in millions, except per-share information) | |||
| Net Sales | $15,845 | $16,242 | $15,614 |
| Adjusted Earnings Per Diluted Share (from continuing ops) (1) | $7.87 | $7.42 | $5.84 |
| Dividends Per Share | $2.66 | $2.54 | $2.42 |
Net Sales by Reportable Segment
| Item | 2024 | 2023 | $ Change | % Change |
| (in millions, except per-share information, percentages and number of employees) | ||||
| Net Sales | $15,845 | $16,242 | ($397) | (2%) |
| Net Income (attributable to PPG) | ||||
| Income from continuing operations | $1,377 | $1,262 | $115 | 9% |
| (Loss)/income from discontinued operations | ($228) | $47 | ($275) | N/A |
| Net income (attributable to PPG) | $1,149 | $1,309 | ($160) | (12%) |
| Earnings per diluted share from continuing operations | $5.72 | $5.16 | $0.56 | 11% |
| (Loss)/Income Per Diluted Share from Discontinued Operations | ($0.97) | $0.19 | ($1.16) | N/A |
| Total Earnings Per Diluted Share | $4.75 | $5.35 | ($0.60) | (11%) |
| Adjusted Earnings Per Diluted Share (from continuing operations) (1) | $7.87 | $7.42 | $0.45 | 6% |
| Dividends Per Share | $2.66 | $2.54 | $0.12 | 5% |
| Return on Average Capital | 9.4% | 10.4% | (1.0%) | (10%) |
| Cash from Operating Activities - Continuing Operations | $1,391 | $2,294 | ($903) | (39%) |
| Capital Spending (excluding business acquisitions) | $721 | $516 | $205 | 40% |
| Research and Development | $423 | $424 | ($1) | 0% |
| Average Shares Outstanding - Assuming Dilution | 234.9 | 237.2 | (2.3) | (1%) |
| Average Number of Employees | 46,000 | 53,000 | (7,000) | (13%) |
| PPG Shareholders' Equity | $6,785 | $7,832 | ($1,047) | (13%) |
1. Adjusted earnings per diluted share amounts in 2024, 2023 and 2022 excludes certain per diluted share amounts of $2.15, $2.26 and $1.60, respectively. For detailed information regarding these adjustments, see the Regulation G Reconciliation in Item 7 of the Form 10-K.
PPG Shareholder Information
| Quarterly Stock Market Price | 2024 | 2023 | ||
| Quarter Ended | High | Low | High | Low |
| 31-Mar | $148.68 | $136.55 | $137.74 | $120.90 |
| 30-Jun | $145.60 | $123.84 | $149.01 | $130.65 |
| 30-Sep | $143.39 | $118.07 | $152.89 | $126.94 |
| 31-Dec | $133.44 | $118.50 | $151.16 | $120.33 |
The number of holders of record of PPG common stock as of January 31, 2025 was 12,449 as shown on the records of the Company's transfer agent.
| Dividends | 2024 | 2023 | ||
| Month of Payment | Amount (millions) | Per Share | Amount (millions) | Per Share |
| March | $153 | $0.65 | $146 | $0.62 |
| June | $152 | $0.65 | $146 | $0.62 |
| September | $159 | $0.68 | $153 | $0.65 |
| December | $158 | $0.68 | $153 | $0.65 |
| Total | $622 | $2.66 | $598 | $2.54 |