The hottest PPG released the third quarter financi

PPG released its financial report for the third quarter of 2016

• the net sales in the third quarter was $3.8 billion, with a loss of 75 cents per share

• excluding the impact of adverse exchange rate factors, the adjusted earnings per share was 1. After all, the life cycle cost of graphene cable may be lower than that of traditional products 56 U.S. dollars, up 1% year-on-year

• completed the sale of European glass fiber and flat glass businesses on October 1

• announced the sale of 50% of the shares of the Asian glass fiber joint venture

• as of the end of the third quarter, cash and short-term investments totaled about $1billion

Pittsburgh, USA, October 26, 2016 - PPG (New York Stock Exchange code: PPG) recently announced its third quarter 2016 financial results, achieving a net sales of $3.8 billion, Compared with us $3.7 billion in the same period last year, it increased by nearly 2%. The total sales volume increased by 1.6% year-on-year, and the contribution of the acquisition business to the sales volume exceeded 2%, but to a certain extent, it was affected by the slight decline in the sales price. Adverse exchange rate factors dragged down net sales by $65million, with an impact range of nearly 2%

in the third quarter of 2016, the net loss of continuing operations was $201 million, equivalent to 75 cents per share. The adjusted net profit from continuing operations in the same period was US $415million, equivalent to US $1.56 per share. The adjusted net profit excludes the after tax cost of 616 million yuan brought by the previously announced pension settlement, which is equivalent to $2.31 per share. The effective tax rate in the third quarter was 52.5%, and the adjusted effective tax rate was 24.4%

as a reference, the net profit and diluted earnings per share of continuing operations in the third quarter of 2015 were $415million and $152 respectively. The adjusted net profit was $421million, equivalent to $1.54 per diluted share, including after tax costs of pension settlement and transaction related costs, totaling $6million, equivalent to 2 cents per diluted share. The effective tax rate after adjustment in the same period is 24%

all the financial data of the above two quarters exclude the recently sold flat glass business, which has been classified as a non continuing business

Michael H. McGarry, chairman and CEO of PPG, said: "Adjusted earnings per share 3. The provision of Chinese versions of operation and operation manuals, maintenance manuals and other relevant materials increased by 1% year-on-year, much lower than our expectations, but this reflects the weak performance of the global economy. Although the sales momentum in the European market generally slowed significantly, resulting in a decline in the growth rate of most European coating businesses, the company's global sales in the third quarter still increased by 1.6%."

"The sales volume of the two major coating businesses are higher than that of the same period last year. How does the industrial coated concrete block do the bending strength test? Next, Jinan new era Gold Testing Instrument Co., Ltd. will give you a detailed introduction: the material performance is particularly eye-catching, in which the sales volume of general industrial and packaging coatings continues to lead the market. The sales volume of high-performance coatings has increased slightly; the sales volume of architectural coatings in the United States, Canada and Mexico have increased, but in Europe, the Middle East and Africa The continued sluggish demand for marine coatings offset the positive impact of the former. " McGarry added

"compared with the expectation at the beginning of the quarter, the profit of the third quarter was affected by some negative factors, including the lower than expected growth rate of sales in Europe, the weakening of the Mexican peso and sterling, which led to the exchange rate factor being more unfavorable than expected. In addition, in order to support the launch of new products, we increased the expenditure on growth projects." McGarry said

in the third quarter, the company continued to implement its strategic goals, including paying an annual pension of $1.8 billion and announcing the sale of shares in two Asian fiberglass joint ventures; In addition, on October 1, we completed the sale of the two businesses of European glass fiber and flat glass. " McGarry added

"Looking forward to the fourth quarter, we believe that global demand is still only slightly improved, and the year-on-year growth rate of earnings is expected to be equal to or slightly higher than that in the third quarter. Therefore, we are considering various restructuring plans to reduce structural operating costs and functional department costs, and will focus on the weakest regions and end markets. Nevertheless, we will still invest in areas that help drive growth. In the fourth quarter, we plan to spend $650million in cash Gold is used to achieve the cash deployment goal with improving profitability as the core. " McGarry concluded

according to the information previously disclosed by PPG, the company will invest a total of US $billion in acquisition projects and share repurchases in 2015 and 2016. So far, PPG has spent $1.85 billion on this goal, of which $250million was spent on share repurchases in the third quarter of 2016. Recently, the board of directors of the company authorized a $2billion stock repurchase plan, which is a new repurchase budget based on the stock repurchase plan approved by the board of directors in 2014. As of September 30, 2016, about $520million remained in the authorized budget

as of the end of the third quarter of 2016, PPG's total cash and short-term investments amounted to about US $1billion, excluding the US $1billion income from the recent sale of two businesses, and excluding the equity income of the two Asian fiberglass joint ventures to be sold. PPG expects that the tax expenses brought by the sale of these businesses are relatively limited

performance of all business units in the third quarter of 2016

in the third quarter of 2016, the net sales of high-performance coatings business was $2.22 billion, a decrease of $17million compared with the same period last year, a year-on-year decrease of less than 1%. The sales volume increased by about 1%, and the purchase business contributed about $15million, less than 1%. Adverse exchange factors dragged down net sales by about 2% to US $45million, completely offsetting the positive impact of price increases

calculated at a fixed exchange rate, the automotive touch up paint business maintained a low single digit growth, indicating that the terminal demand in the Asia Pacific region increased, while the European demand fell slightly, offsetting its positive impact to a certain extent. The sales volume of aviation coatings achieved a low single digit growth compared with the same period last year, which was basically the same as that of the previous quarter. The sales volume of industrial protective coatings and marine coatings fell in the middle single digits, because the downturn in shipbuilding activities in the Asia Pacific region led to a decrease in the sales volume of marine coatings, which completely offset the growth in the sales volume of industrial protective coatings. The low single digit decline in sales of architectural coatings was mainly due to the recession in the European, Middle East and Africa (EMEA) market, especially in the central European market. In terms of architectural coatings, PPG's self operated store network in the U.S. and Canadian markets continues to expand, the sales channels of national retail customers (DIY customers) are increasingly improved, and specific new products have been promoted in some mainstream retail stores. Therefore, the sales volume in the Americas and the Asia Pacific region has achieved a low to medium single digit growth, better than the weak performance in the same period last year. The sales volume of independent dealer channels in the United States was the same as that of the same period last year. In the Latin American market, the sales growth rate in Mexico is more than twice that of the country's GDP at a fixed exchange rate, and the business in Central America continues to expand

in the first quarter of 2016, the net profit of high-performance coatings business was $368million, a decrease of $11million compared with the same period last year, a year-on-year decrease of 3%. Negative exchange factors, including the devaluation of the Mexican peso and sterling, dragged down the net profit of the high-performance coating business of about US $10million. The increase in net profit was mainly driven by sales growth, but the company invested $15million in business development, which to some extent dragged down profit growth

 the industrial coating business achieved a net sales of $1.44 billion in the third quarter, an increase of $83million over the same period last year, an increase of more than 6% year-on-year. The sales volume increased by nearly 4%, mainly driven by the Asia Pacific region and the European market, although the growth rate in Europe slowed down compared with previous quarters. The acquisition business contributed about 5% of net sales, reaching about $75million. Unfavorable exchange factors drag down sales by more than 1%, equivalent to US $15million

the paint sales volume of automotive original equipment manufacturers (OEMs) is 800mm in diameter and 3500mm in height, achieving a low to medium single digit growth compared with the same period last year, which is the same as the growth rate of the global industry. The total sales volume of general industrial coatings, special coatings and materials business achieved medium single digit growth year-on-year, better than the growth rate of global industrial production for three consecutive quarters, mainly because the strong demand in the Asian market offset the continued weak performance of the end markets in the United States and Canada. With the gradual popularity of new technologies, the sales volume of packaging coatings still achieved a low to medium single digit growth compared with the strong performance of the same period last year

in the third quarter, the industrial coating business achieved a net profit of $249 million, an increase of $8 million over the same period last year, an increase of 3% year-on-year, mainly due to the increase in sales and continuous cost control measures. The acquisition business boosted profit growth, and its profit margin was in line with expectations, but lower than the average profit level of the industrial coating business. Exchange rate factors (mainly Mexican pesos) dragged down profits of about $5million this quarter

 in the third quarter of 2016, the glass business achieved net sales of US $129 million, a decrease of US $2million over the same period last year, a year-on-year decrease of 2%. The increase in sales partially offset the impact of adverse exchange rate factors. The sales volume in the European market increased, but the sales volume in the United States and Canada fell. The net profit of glass business in the third quarter was US $12million, an increase of US $6million year-on-year, mainly due to active cost management

the financial data of glass business in the third quarter include PPG global glass fiber business, while the financial data of flat glass business in the current period and the previous period are regarded as non sustainable business. The sale of the flat glass business and the European glass fiber business was completed on October 1st, 2016. In addition, the company announced the sale of 50% of the shares of two Asian fiber glass joint ventures in the third quarter, which is expected to be completed by the end of 2016

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PPG (NYSE Code: PPG) has always been committed to developing and providing reliable paint, coating and material products for customers for more than 130 years. Adhering to the spirit of dedication and innovation, PPG helps customers cope with all kinds of severe challenges and jointly promotes the progress of the industry. PPG is headquartered in Pittsburgh, the United States. Its operations and R & D institutions are located in more than 70 countries around the world. In 2015, the company's global net sales reached US $14.8 billion. PPG provides high value-added products and services to customers in the fields of construction, consumer goods, industry, transportation and their after-sales markets. For more information, please browse