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PPG (NYSE:PPG) announces a $2.5 billion share repurchase program authorized by its board of directors, in addition to the existing $860 million authorization. The program allows for immediate repurchases without expiration, giving management discretion in the purchase conditions. Repurchases will be made in accordance with securities laws through open market or privately negotiated transactions. PPG reported net sales of $18.2 billion in 2023, serving various markets globally.
PPG (NYSE:PPG) annuncia un programma di riacquisto di azioni del valore di 2,5 miliardi di dollari autorizzato dal suo consiglio di amministrazione, aggiuntivo rispetto all'autorizzazione esistente di 860 milioni di dollari. Il programma permette riacquisti immediati senza scadenza, fornendo alla direzione la discrezione sulle condizioni di acquisto. I riacquisti saranno effettuati in conformità con le leggi sui titoli tramite transazioni di mercato aperto o negoziate privatamente. PPG ha registrato vendite nette per 18,2 miliardi di dollari nel 2023, servendo vari mercati a livello globale.
PPG (NYSE:PPG) anuncia un programa de recompra de acciones de $2.5 mil millones autorizado por su junta directiva, adicional a la autorización existente de $860 millones. El programa permite recompras inmediatas sin fecha de expiración, otorgando discreción a la gerencia sobre las condiciones de compra. Las recompras se realizarán de acuerdo con las leyes de valores a través de transacciones en mercado abierto o negociadas de forma privada. PPG reportó ventas netas de $18.2 mil millones en 2023, atendiendo diversos mercados a nivel mundial.
PPG (NYSE:PPG)는 이사회가 승인한 25억 달러 규모의 주식 매입 프로그램을 발표했으며, 이는 기존의 8억 6천만 달러 승인에 추가된 것입니다. 이 프로그램은 만료 기한 없이 즉시 매입을 허용하며, 경영진에게 매입 조건에 대한 재량을 부여합니다. 매입은 공개 시장이나 사적 협상을 통한 거래를 통해 증권법을 준수하여 이루어질 것입니다. PPG는 2023년에 182억 달러의 순매출을 보고했으며, 전 세계 다양한 시장을 대상으로 서비스를 제공하고 있습니다.
PPG (NYSE:PPG) annonce un programme de rachat d'actions de 2,5 milliards de dollars autorisé par son conseil d'administration, en plus de l'autorisation existante de 860 millions de dollars. Le programme permet des rachats immédiats sans expiration, donnant à la direction la discrétion sur les conditions d'achat. Les rachats seront effectués conformément aux lois sur les valeurs mobilières par des transactions sur le marché ouvert ou négociées de manière privée. PPG a déclaré des ventes nettes de 18,2 milliards de dollars en 2023, desservant divers marchés à l'échelle mondiale.
PPG (NYSE:PPG) gibt ein Aktienrückkaufprogramm in Höhe von 2,5 Milliarden Dollar bekannt, das vom Vorstand genehmigt wurde und zusätzlich zu der bestehenden Autorisierung von 860 Millionen Dollar steht. Das Programm erlaubt sofortige Rückkäufe ohne Ablaufdatum und gibt dem Management Ermessen bei den Kaufbedingungen. Rückkäufe werden entsprechend den Wertpapiergesetzen durch offene Marktransaktionen oder privat ausgehandelte Geschäfte durchgeführt. PPG berichtete für das Jahr 2023 einen Nettoumsatz von 18,2 Milliarden Dollar und bedient verschiedene Märkte weltweit.
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The new $2.5 billion share repurchase program initiated by PPG is a substantial financial maneuver that will potentially impact the company's per-share metrics favorably. From a financial perspective, this move may signal to investors that PPG's leadership believes the stock is undervalued or that they see it as a good use of capital given the current market conditions. Share buybacks can often lead to an increase in earnings per share (EPS), as there are fewer shares outstanding, which can make the stock more attractive to investors.
However, it's important for investors to consider whether these funds could be more effectively used for growth initiatives or reducing debt. Share repurchases can sometimes be a sign that a company lacks better investment opportunities. Moreover, investors should keenly observe the future quarterly earnings reports to assess the impact of this repurchase on the company's financial health, keeping in mind that while buybacks can enhance EPS, they do not inherently increase the intrinsic value of the company.
PPG's decision to implement a new share repurchase program, on top of the existing one from December 2017, suggests a strategic effort to manage the company's capital structure actively. In the short term, this may create a positive sentiment among investors, as it could be perceived as a commitment to returning value to shareholders. The company's announcement indicates a discretionary approach, which provides flexibility to adapt to changing market conditions.
Long-term investors should monitor PPG's allocation of capital towards such repurchases versus its investment in strategic initiatives, which could drive sustainable growth. The timing of share repurchases can be quite telling; if executed when shares are deemed to be undervalued, the program can serve as a tool for shareholder value maximization. It's essential to weigh this action against the backdrop of the company's ongoing needs for capital for research and development, expansion and potential acquisitions in the paints and coatings industry.
PITTSBURGH--(BUSINESS WIRE)--
PPG (NYSE:PPG) today announced that its board of directors has authorized the repurchase of $2.5 billion of outstanding common stock. The authorization is effective immediately, does not expire, and gives management discretion in determining the conditions under which shares may be purchased.
This program is in addition to the company’s existing share repurchase authorization, which was approved in December 2017 and had approximately $860 million remaining as of March 31, 2024. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Repurchases may commence or cease without prior notice depending on economic and equity market conditions, magnitude of other cash uses, including pace and timing of acquisitions, and other factors.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE: PPG), we work every day to develop and deliver the paints, coatings, and specialty materials that our customers have trusted for 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $18.2 billion in 2023. We serve customers in construction, consumer products, industrial and transportation markets, and aftermarkets. To learn more, visit www.ppg.com.
The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.
Forward-Looking Statements
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. The forward-looking statements contained herein include statements relating to the timing and number of shares ultimately purchased under PPG Industries’ share repurchase program. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including PPG Industries’ ability to complete the share repurchase program and the other risks and uncertainties discussed in PPG Industries’ periodic reports on Form 10-K and Form 10-Q, and its current reports on Form 8-K filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of their initial issuance, and PPG Industries does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
ppg industries' vision is to be the world’s leading coatings company by consistently delivering high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. through leadership in innovation, sustainability and color, ppg provides added value to customers in construction, consumer products, industrial and transportation markets and aftermarkets to enhance more surfaces in more ways than does any other company. founded in 1883, ppg has global headquarters in pittsburgh and operates in more than 70 countries around the world. reported net sales in 2014 were $15.4 billion. ppg shares are traded on the new york stock exchange (symbol:ppg). for more information, visit www.ppg.com and follow @ppgindustries on twitter.
