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 |
PPG has paid uninterrupted annual dividends since 1899. The latest quarterly dividend of 68 cents per share was approved by the board of directors on January 16, 2025, payable March 12, 2025 to shareholders of record February 21, 2025.