Subtext

PPG Industries, Inc. PPG

SectorMaterials
Transcripts68
Date range2008-01-17 – 2025-04-30
Calls charted68

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-15-7+0+7+152007 Q42010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q4 · Overall: +9.02008 Q1 · Overall: +11.92008 Q2 · Overall: +12.82008 Q3 · Overall: +1.32008 Q4 · Overall: -4.92009 Q2 · Overall: -1.12009 Q3 · Overall: +1.72009 Q4 · Overall: +2.12010 Q1 · Overall: +6.12010 Q2 · Overall: +6.12010 Q4 · Overall: +7.72011 Q1 · Overall: +5.72011 Q2 · Overall: +9.72011 Q3 · Overall: -2.62011 Q4 · Overall: +0.82012 Q1 · Overall: +6.12012 Q2 · Overall: -0.62012 Q3 · Overall: +6.22012 Q4 · Overall: +6.42013 Q1 · Overall: +3.62013 Q2 · Overall: +7.92013 Q3 · Overall: +4.62013 Q4 · Overall: +8.72014 Q1 · Overall: +9.12014 Q2 · Overall: +7.42014 Q3 · Overall: +7.62014 Q4 · Overall: +6.22015 Q1 · Overall: +8.22015 Q2 · Overall: +6.72015 Q3 · Overall: +4.72015 Q4 · Overall: +6.02016 Q1 · Overall: +8.82016 Q2 · Overall: +4.32016 Q3 · Overall: -2.52016 Q4 · Overall: +4.02017 Q1 · Overall: +6.22017 Q2 · Overall: +5.82017 Q3 · Overall: -2.92017 Q4 · Overall: +5.32018 Q1 · Overall: +8.12018 Q2 · Overall: +0.22018 Q3 · Overall: +5.12018 Q4 · Overall: -1.92019 Q1 · Overall: +3.62019 Q2 · Overall: +0.32019 Q3 · Overall: +4.02019 Q4 · Overall: +7.82020 Q1 · Overall: -8.32020 Q2 · Overall: +5.62020 Q3 · Overall: +7.82020 Q4 · Overall: +8.22021 Q1 · Overall: +8.52021 Q2 · Overall: +2.32021 Q3 · Overall: +0.42021 Q4 · Overall: +6.22022 Q1 · Overall: +7.22022 Q2 · Overall: +2.72022 Q3 · Overall: +7.72022 Q4 · Overall: +4.62023 Q1 · Overall: +8.62023 Q2 · Overall: +5.62023 Q3 · Overall: +11.12023 Q4 · Overall: +10.82024 Q1 · Overall: +8.92024 Q2 · Overall: +3.92024 Q3 · Overall: +2.02024 Q4 · Overall: +11.22025 Q1 · Overall: +9.3
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-42-21+0+21+422007 Q42010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q4 · CEO: +13.52008 Q4 · CEO: -1.22009 Q2 · CEO: +10.72009 Q3 · CEO: +7.02009 Q4 · CEO: +8.82010 Q1 · CEO: +8.72010 Q2 · CEO: +10.72010 Q4 · CEO: +13.92011 Q1 · CEO: +14.92011 Q2 · CEO: +18.32011 Q3 · CEO: +3.22011 Q4 · CEO: +6.12012 Q1 · CEO: +11.72012 Q2 · CEO: +2.32012 Q3 · CEO: +11.52012 Q4 · CEO: +15.52013 Q1 · CEO: +10.92013 Q2 · CEO: +16.92013 Q3 · CEO: -9.62013 Q4 · CEO: +18.22014 Q1 · CEO: +19.62014 Q2 · CEO: +17.82014 Q3 · CEO: +15.72014 Q4 · CEO: +15.32015 Q1 · CEO: +8.32015 Q2 · CEO: +11.72015 Q3 · CEO: +10.92015 Q4 · CEO: +14.32016 Q1 · CEO: +13.22016 Q2 · CEO: +7.02016 Q3 · CEO: -1.12016 Q4 · CEO: +9.72017 Q1 · CEO: +8.32017 Q2 · CEO: +10.82017 Q3 · CEO: +4.12017 Q4 · CEO: +11.02018 Q1 · CEO: +14.82018 Q2 · CEO: +7.92018 Q3 · CEO: +9.62018 Q4 · CEO: +7.52019 Q1 · CEO: +8.12019 Q2 · CEO: +10.12019 Q3 · CEO: +9.82019 Q4 · CEO: +14.22020 Q1 · CEO: -3.52020 Q2 · CEO: +13.32020 Q3 · CEO: +15.82020 Q4 · CEO: +14.72021 Q1 · CEO: +18.62021 Q2 · CEO: +6.42021 Q3 · CEO: +5.72021 Q4 · CEO: +14.72022 Q1 · CEO: +13.02022 Q2 · CEO: +11.52022 Q3 · CEO: +14.62022 Q4 · CEO: +13.92023 Q1 · CEO: +16.42023 Q2 · CEO: +16.92023 Q3 · CEO: +17.02023 Q4 · CEO: +30.22024 Q1 · CEO: +15.72024 Q2 · CEO: +10.62024 Q3 · CEO: +10.12024 Q4 · CEO: +16.82025 Q1 · CEO: +13.92007 Q4 · CFO: +10.92008 Q1 · CFO: +11.92008 Q2 · CFO: +13.32008 Q3 · CFO: +1.32008 Q4 · CFO: -4.72009 Q2 · CFO: -9.22009 Q3 · CFO: +0.02009 Q4 · CFO: -0.62010 Q1 · CFO: +7.92010 Q2 · CFO: +4.72010 Q4 · CFO: +0.02011 Q1 · CFO: +7.12011 Q3 · CFO: +6.62011 Q4 · CFO: +14.62012 Q1 · CFO: +14.52012 Q2 · CFO: +5.62012 Q3 · CFO: +14.42012 Q4 · CFO: +14.02013 Q1 · CFO: -8.52013 Q2 · CFO: +36.62013 Q3 · CFO: +11.42013 Q4 · CFO: +8.72014 Q1 · CFO: -1.02014 Q2 · CFO: +4.62014 Q3 · CFO: -3.42014 Q4 · CFO: +0.72015 Q1 · CFO: +11.82015 Q2 · CFO: +25.02015 Q3 · CFO: -2.32015 Q4 · CFO: +2.02016 Q2 · CFO: +13.22016 Q3 · CFO: +0.72016 Q4 · CFO: +1.72017 Q1 · CFO: +3.02017 Q2 · CFO: +10.32017 Q3 · CFO: -1.02017 Q4 · CFO: +2.22018 Q1 · CFO: +1.22018 Q2 · CFO: +8.62018 Q3 · CFO: +6.82018 Q4 · CFO: -5.42019 Q1 · CFO: +6.62019 Q2 · CFO: -1.62019 Q3 · CFO: -2.92019 Q4 · CFO: +10.02020 Q1 · CFO: -9.62020 Q2 · CFO: -2.02020 Q3 · CFO: +2.42020 Q4 · CFO: +7.92021 Q1 · CFO: +0.72021 Q2 · CFO: +4.52021 Q3 · CFO: +6.52021 Q4 · CFO: +1.32022 Q1 · CFO: +10.92022 Q2 · CFO: -2.02022 Q3 · CFO: -3.32022 Q4 · CFO: +1.82023 Q1 · CFO: +8.62023 Q2 · CFO: -5.62023 Q3 · CFO: +6.42023 Q4 · CFO: +5.12024 Q1 · CFO: +4.72024 Q2 · CFO: +0.02024 Q3 · CFO: -0.82024 Q4 · CFO: +3.02025 Q1 · CFO: -0.9
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-31-16+0+16+312007 Q42010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q4 · Prepared remarks: +19.92008 Q1 · Prepared remarks: +11.92008 Q2 · Prepared remarks: +12.82008 Q3 · Prepared remarks: +1.32008 Q4 · Prepared remarks: -3.42009 Q2 · Prepared remarks: -4.72009 Q3 · Prepared remarks: +5.22009 Q4 · Prepared remarks: +3.72010 Q1 · Prepared remarks: +9.72010 Q2 · Prepared remarks: +7.12010 Q4 · Prepared remarks: +15.52011 Q1 · Prepared remarks: +20.42011 Q2 · Prepared remarks: +7.92011 Q3 · Prepared remarks: +4.32011 Q4 · Prepared remarks: +11.62012 Q1 · Prepared remarks: +16.82012 Q2 · Prepared remarks: +3.32012 Q3 · Prepared remarks: +8.52012 Q4 · Prepared remarks: +23.02013 Q1 · Prepared remarks: +10.02013 Q2 · Prepared remarks: +15.92013 Q3 · Prepared remarks: +16.22013 Q4 · Prepared remarks: +16.92014 Q1 · Prepared remarks: +13.22014 Q2 · Prepared remarks: +12.22014 Q3 · Prepared remarks: +12.62014 Q4 · Prepared remarks: +10.52015 Q1 · Prepared remarks: +10.32015 Q2 · Prepared remarks: +5.92015 Q3 · Prepared remarks: +9.42015 Q4 · Prepared remarks: +17.52016 Q1 · Prepared remarks: +17.72016 Q2 · Prepared remarks: +3.72016 Q3 · Prepared remarks: -3.42016 Q4 · Prepared remarks: +8.42017 Q1 · Prepared remarks: +5.52017 Q2 · Prepared remarks: +5.92017 Q3 · Prepared remarks: +0.62017 Q4 · Prepared remarks: +10.72018 Q1 · Prepared remarks: +19.12018 Q2 · Prepared remarks: +11.72018 Q3 · Prepared remarks: +11.42018 Q4 · Prepared remarks: -0.32019 Q1 · Prepared remarks: +5.92019 Q2 · Prepared remarks: +8.42019 Q3 · Prepared remarks: +1.02019 Q4 · Prepared remarks: +14.42020 Q1 · Prepared remarks: -9.42020 Q2 · Prepared remarks: +18.92020 Q3 · Prepared remarks: +16.82020 Q4 · Prepared remarks: +19.52021 Q1 · Prepared remarks: +15.42021 Q2 · Prepared remarks: +5.22021 Q3 · Prepared remarks: +11.12021 Q4 · Prepared remarks: +8.92022 Q1 · Prepared remarks: +7.62022 Q2 · Prepared remarks: +15.42022 Q3 · Prepared remarks: +10.92022 Q4 · Prepared remarks: +25.22023 Q1 · Prepared remarks: +19.42023 Q2 · Prepared remarks: +22.92023 Q3 · Prepared remarks: +15.82023 Q4 · Prepared remarks: +27.22024 Q1 · Prepared remarks: +25.82024 Q2 · Prepared remarks: +18.72024 Q3 · Prepared remarks: +16.42024 Q4 · Prepared remarks: +14.82025 Q1 · Prepared remarks: +17.02007 Q4 · Q&A responses: +3.22008 Q4 · Q&A responses: -1.82009 Q2 · Q&A responses: +8.72009 Q3 · Q&A responses: +4.32009 Q4 · Q&A responses: +5.32010 Q1 · Q&A responses: +6.02010 Q2 · Q&A responses: +7.72010 Q4 · Q&A responses: +9.52011 Q1 · Q&A responses: +9.62011 Q2 · Q&A responses: +19.32011 Q3 · Q&A responses: +1.32011 Q4 · Q&A responses: +2.02012 Q1 · Q&A responses: +8.22012 Q2 · Q&A responses: +2.52012 Q3 · Q&A responses: +8.92012 Q4 · Q&A responses: +8.72013 Q1 · Q&A responses: +6.62013 Q2 · Q&A responses: +13.52013 Q3 · Q&A responses: +7.52013 Q4 · Q&A responses: +12.32014 Q1 · Q&A responses: +12.82014 Q2 · Q&A responses: +13.02014 Q3 · Q&A responses: +13.62014 Q4 · Q&A responses: +11.92015 Q1 · Q&A responses: +9.22015 Q2 · Q&A responses: +12.92015 Q3 · Q&A responses: +6.02015 Q4 · Q&A responses: +6.22016 Q1 · Q&A responses: +10.72016 Q2 · Q&A responses: +10.02016 Q3 · Q&A responses: +0.62016 Q4 · Q&A responses: +5.82017 Q1 · Q&A responses: +8.92017 Q2 · Q&A responses: +11.32017 Q3 · Q&A responses: +3.12017 Q4 · Q&A responses: +6.92018 Q1 · Q&A responses: +8.52018 Q2 · Q&A responses: +6.02018 Q3 · Q&A responses: +8.12018 Q4 · Q&A responses: +2.82019 Q1 · Q&A responses: +8.42019 Q2 · Q&A responses: +7.72019 Q3 · Q&A responses: +8.72019 Q4 · Q&A responses: +9.52020 Q1 · Q&A responses: -3.32020 Q2 · Q&A responses: +5.62020 Q3 · Q&A responses: +10.82020 Q4 · Q&A responses: +9.82021 Q1 · Q&A responses: +11.02021 Q2 · Q&A responses: +5.62021 Q3 · Q&A responses: +4.02021 Q4 · Q&A responses: +11.92022 Q1 · Q&A responses: +12.32022 Q2 · Q&A responses: +4.12022 Q3 · Q&A responses: +12.12022 Q4 · Q&A responses: +5.52023 Q1 · Q&A responses: +10.62023 Q2 · Q&A responses: +5.42023 Q3 · Q&A responses: +14.02023 Q4 · Q&A responses: +11.82024 Q1 · Q&A responses: +8.32024 Q2 · Q&A responses: +5.42024 Q3 · Q&A responses: +3.42024 Q4 · Q&A responses: +11.92025 Q1 · Q&A responses: +8.4
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$4.65$6.93$9.202007 Q42010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: $4.972014 Q2: $5.082014 Q3: $5.412014 Q4: $5.702015 Q1: $5.942015 Q2: $6.102015 Q3: $6.292015 Q4: $6.422016 Q1: $6.422016 Q2: $6.642016 Q3: $6.662016 Q4: $6.352017 Q1: $6.392017 Q2: $6.572017 Q3: $6.632017 Q4: $6.632018 Q1: $6.752018 Q2: $6.762018 Q3: $6.822018 Q4: $6.472019 Q1: $6.422019 Q2: $6.632019 Q3: $6.762019 Q4: $6.872020 Q1: $6.762020 Q2: $5.212020 Q3: $5.892020 Q4: $6.802021 Q1: $7.572021 Q2: $8.492021 Q3: $8.192021 Q4: $8.232022 Q1: $7.792022 Q2: $7.912022 Q3: $7.852022 Q4: $7.002023 Q1: $6.862023 Q2: $7.702023 Q3: $8.172023 Q4: $8.412024 Q1: $8.702024 Q2: $8.882024 Q3: $8.862024 Q4: $8.81

Forward P/E

9.9016.3622.812007 Q42010 Q22012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: 19.642014 Q2: 20.022014 Q3: 18.662014 Q4: 19.502015 Q1: 19.322015 Q2: 19.132015 Q3: 15.102015 Q4: 15.612016 Q1: 16.612016 Q2: 16.052016 Q3: 15.132016 Q4: 15.142017 Q1: 16.282017 Q2: 16.972017 Q3: 15.842017 Q4: 17.532018 Q1: 17.052018 Q2: 15.282018 Q3: 16.872018 Q4: 14.902019 Q1: 17.352019 Q2: 17.432019 Q3: 17.662019 Q4: 19.162020 Q1: 10.792020 Q2: 20.152020 Q3: 21.922020 Q4: 21.012021 Q1: 19.352021 Q2: 20.582021 Q3: 18.412021 Q4: 20.152022 Q1: 16.432022 Q2: 14.372022 Q3: 15.302022 Q4: 18.972023 Q1: 18.282023 Q2: 18.272023 Q3: 16.282023 Q4: 17.542024 Q1: 16.312024 Q2: 14.392024 Q3: 14.382024 Q4: 13.76

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2016 Q2 tone ↓ -4.5 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↑ +6.5 fwd EPS ↓ -0.31 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↓ -3.3 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +14.0 fwd EPS ↓ -1.55 Tone rose while the forward EPS estimate was cut.
  • 2021 Q2 tone ↓ -6.2 fwd EPS ↑ +0.92 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -4.5 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↑ +4.0 fwd EPS ↓ -0.14 Tone rose while the forward EPS estimate was cut.
  • 2023 Q2 tone ↓ -2.9 fwd EPS ↑ +0.84 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -5.1 fwd EPS ↑ +0.19 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-30+9.3——View →
2024 Q42025-01-31+11.2$8.8113.8View →
2024 Q32024-10-17+2.0$8.8614.4View →
2024 Q22024-07-19+3.9$8.8814.4View →
2024 Q12024-04-19+8.9$8.7016.3View →
2023 Q42024-01-19+10.8$8.4117.5View →
2023 Q32023-10-19+11.1$8.1716.3View →
2023 Q22023-07-21+5.6$7.7018.3View →