PPG announced the company’s record performance in 2023 at its annual shareholder meeting.
Tim Knavish, PPG chairman and chief executive officer, says the company achieved records in sales, adjusted earnings per diluted share and operating cash flow in 2023. The company reported full-year net sales of approximately $18.2 billion, up 3% year over year. In 2023, organic sales rose 3%, driven by higher selling prices, and the company delivered on its commitment to execute strong margin improvement. PPG generated full-year operating cash flow of $2.4 billion.
“I want to thank and recognize our more than 50,000 PPG team members who delivered excellent results for the company in 2023, our 140th year. The resiliency of our global business portfolio combined with the efforts and determination of our people to ‘make it happen’ for our customers were key factors in our ability to overcome a challenging macro environment and deliver on our purpose—to protect and beautify the world,” Knavish says. “The success of the team’s work throughout the year has enabled PPG to continue to reward our shareholders, as we paid about $600 million in dividends and completed about $100 million of share repurchases in 2023.”
