04:31 PM EDT, 07/18/2024 (MT Newswires) -- PPG Industries ( PPG ) reported Q2 adjusted earnings late Thursday of $2.50 per diluted share, up from $2.25 a year earlier.

Analysts polled by Capital IQ expected EPS of $2.48.

Net sales in the quarter ended June 30 fell to $4.79 billion from $4.87 billion a year earlier. Analysts surveyed by Capital IQ expected $4.92 billion.

The company expects Q3 adjusted EPS of $2.10 to $2.20. Analysts forecast $2.29.

PPG cut 2024 adjusted EPS guidance to $8.15 to $8.30 from $8.34 to $8.59, citing "current global economic activity, continued uneven global industrial production, lower global automotive production, uneven but stabilizing demand in Europe, continued growth in Mexico and India, and low single-digit growth in China."

Analysts projected EPS of $8.42 in the full year.

Shares of PPG fell 4% in recent after-hours activity.

Price: 126.40, Change: -5.31, Percent Change: -4.03