PPG warns of flat Q3 sales on rising costs, softening demand; shares down 8%
Shares of PPG Industries Inc. fell 8% in the extended session Monday after the paint and coatings maker said it expects flat sales in the third quarter as raw-materials and logistics costs rose, demand in China softened, and sales to the auto refinish market were weaker as several U.S. and European customers are carrying high inventories due to lower demand. PPG said it expects net sales for the third quarter around $3.8 billion, the same as in the third quarter of 2017. Adjusted per-share earnings... Читать дальше...