PPG sees unfavorable currency translation impact on Q3 sales of $30M-$50M
"Looking ahead, overall PPG sales volumes trends are expected to be similar to those experienced in the second quarter excluding the U.S. DIY customer-assortment changes that reached their anniversary at the end of the quarter," PPG said in prepared remarks. "Net positive sales volumes are expected in the Performance Coatings segment. Sales volumes in the Industrial Coatings segment are expected to remain negative year-over-year, reflecting lower automotive OEM and general industrial coatings demand. Overall PPG sales are expected to decline sequentially, versus the second quarter, due to normal seasonal patterns." Says U.K. demands continues to be good, though industry trends are being closely monitored as the level of uncertainty surrounding Brexit continues. Sees global industrial demand for coatings to remain subdued through Q3, with inconsistencies by region. Sees unfavorable currency translation impact on Q3 net sales of $30M-$50M, based on current exchange rates.