2023 Financial Highlights and PPG Shareholder Information

Two PPG employees discussing information using computer screens


2023 Overview 

Item 202320222021
(In Millions, except per-share information)


Net Sales$18,246$17,652$16,802
Adjusted Earnings Per Diluted Share (from continuing ops) (1)$7.67$6.05$6.77
Dividends Per Share $2.54$2.42$2.26

Net Sales by Reportable Segment 

  


Item2023                  2022$ Change    % Change        
(In Millions, Except Per-Share Information, Percentages, & Number of Employees)

Net Sales $18,246          $17,652$594                   3%
Net Income (attributable to PPG)

Income from continuing operations$1,270            $1,028$242                   24%
(Loss)/income from discontinued operations-                      $(2)$2                       (100%)
Net income (attributable to PPG)$1,270             $1,026$244                   24%
Earnings per diluted share from continuing operations$5.35               $4.33$1.02                  24%
(Loss)/Income Per Diluted Share from Discontinued Operations -                       $(0.01)$0.01                  (100%)
Total Earnings Per Diluted Share$5.35               $4.32$1.03                   24%
Adjusted Earnings Per Diluted Share (from continuing operations) (1)$7.67               $6.05$1.62                   27%
Dividends Per Share$2.54               $2.42$0.12                   5%
Return on Average Capital 10.4%               8.8%1.6%                    18%
Cash from Operating Activities $2,411              $963$1,448                 150%
Capital Spending (excluding business acquisitions)$549                 $518$31                       6%
Research and Development $456                 $470($14)                     (3%)
Average Shares Outstanding - Assuming Dilution237.2                237.3(0.1)                      0%
Average Number of Employees53,000            52,0001,000                    2%
PPG Shareholders' Equity $7,832            $6,592$1,240                 19%