PPG reports first quarter financial results

Record net sales of about $4.4 billion.

Organic sales growth of more than 5% versus prior year, led by higher selling prices.

Components of year-over-year net sales change: higher selling prices (+8%), lower sales volumes (-3%), divestiture-related sales and the wind down of Russia operations (-1%), unfavorable foreign currency translation (-2%).

Our strong earnings growth was across most business units and was aided by higher incremental margins that were driven by higher selling prices, improving manufacturing efficiencies and overall cost discipline.