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PPG Profits: Coatings company reports record-breaking full year 2022 financials

Pennsylvania, United States — As with the other big automotive coatings players, PPG also reported increased sales⁠—record-breaking full-year results, in fact.

Sales for 2022 were reported at US$17.7 billion, aided by eight percent organic growth, said PPG. Meanwhile, overall sales volumes fell by five percent year-over-year.

The company also delivered record net sales for Q4 2022 in the automotive refinish and PPG Comex coatings businesses, said Tim Knavish, PPG president and chief executive officer.

PPG said Q4 2022 automotive refinish coatings organic sales grew by “a low double-digit percentage” driven by both higher selling prices and sales volumes.

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