PPG Industries, Inc. (NYSE:PPG) Q1 2023 Earnings Call Transcript

I want to go back to your industrial question and maybe broaden it a little bit. If you think about PPG, 2022 was a difficult year. We had significant exposure in Europe, where we saw the geopolitical items really affect our volumes. As everybody is fully aware, China had multiple months of shutdowns in 2022. And the U.S. was one of our most stable businesses. And Mexico and Latin America continued to grow. If you fast forward into 2023, we feel Europe stabilized, and we’re able to then put our cost stewardship on that. We feel China and Asia is going to grow.So two big pieces of our portfolio pointing in the right direction as it compared to last year. And we still feel very strong about Latin America and grow, and we’re seeing some softness in the U.S. in industrial, certainly in the construction markets, but we’re offsetting the majority of that with aerospace and automotive, protective, as Tim mentioned.

So again, I think for us, we had a difficult 2022, and we’re lapping some of that in 2023. The only thing we see softening is really those pockets in the U.S.Operator There are no further questions at this time. I’ll now turn the call back over to John Bruno.John Bruno Thank you, Elliott. We appreciate everyone’s continued interest and confidence in PPG. This concludes our first quarter earnings call.Operator This concludes today’s conference call. You may now disconnect.