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PPG July Sales Down 7% YoY; Raises Q3 Sales Outlook - Quick Facts

PPG (PPG) said, due to the stronger sales performance in July, the company now expects third quarter sales volumes to be down 6% to 11% year-on-year, excluding foreign currency translation, compared to the previously expected year-over-year decrease of 8% to 15%. The company now expects third quarter operating margin decrements to be between 10% to 15%.

"Led by improving demand trends in our Chinese and European businesses across a variety of coatings end-use markets and in global industrial production, our July sales increased sequentially from the month of June and were down 7% compared to the prior year." said Michael McGarry, PPG CEO.

Shares of PPG were up nearly 3% in pre-market trade on Tuesday.

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