PPG’s earnings report this week suggests that the paint manufacturer is not only weathering the economic storm, but improving its bottom line.
The Pittsburgh-based company reported a first-quarter profit of $373 million, which pencils out to about $1.72 per share, beating the Wall Street estimate of $1.62 per share.
PPG also beat expectations on revenue. The company posted a revenue of $3.68 billion, a solid $20 million more than predicted.
This caps a six month period of transition for PPG, which sold off its architectural coatings business in October 2024 as part of a previously announced restructuring plan designed to shave costs. We recently talked to the new CEO of Pittsburgh Paints about his plans for the independently branded company.
PPG’s stock jumped on the solid report, but reaction may have been muted by a broader market sell-off triggered by bad economic numbers across the board.
Companies are bracing for the impact of tariffs, which will show up in their next Q2 earnings report. We previously reported that the American Coatings Association warned that tariffs could raise prices for contractors due to paint ingredients from China.
This is a fast-changing story so it may not reflect the state of the stock market or economic policy by the time you are reading this.
Here’s another example why it pays to be a reputable painting contractor.
Last week, a New Jersey newspaper reported on the case of a painter caught stealing $30,000 worth of jewelry from the bedroom while he was supposed to be painting it.
Although several other workers had access to the home, authorities did a polygraph test that showed the man had “knowledge of the thefts,” according to police.
(A quick note: polygraph tests are considered unreliable and aren’t scientifically proven, but in this case it seemed to identify the right suspect.)
The accused man eventually returned most of the stolen jewels.
Police are using this case as an example to warn homeowners about fly-by-night contractors.
“Always verify credentials, check reviews or references, and ensure they are from a reputable company,” the police said. “A few extra minutes of vetting can prevent serious risk down the line.”
This is yet another reason that honest and hard-working contractors need to put some energy into their online presence. Customers are looking at Google ratings and other signals to make sure you’re not going to rip them off.
