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PPG Reports Second Quarter 2021 Financial Results PPG investor.ppg.com/news/news-details/2021/PPG-Reports-Second-Quarter-2021-Financial-Results/default.aspx View All Press Releases July 19 , 2021 PPG ( NYSE : PPG ) today reported second quarter 2021 net sales of approximately $ 4.4 billion , approximately 45 % higher than the prior year . Selling prices increased by 3.5 % and sales volumes were higher by approximately 24 % in comparison to the previous year . Favorable foreign currency translation impacted net sales by about 6 % , or about $ 185 million , and acquisition - related sales added more than 11 % year over year . Second quarter 2021 reported net income was $ 431 million , or $ 1.80 per diluted share , and adjusted net income was $ 465 million , or $ 1.94 per diluted share . Adjusted figures exclude after - tax items , including acquisition - related amortization expenses of $ 31 million and other items totaling to $ 3 million of expense , primarily related to environmental matters , income from legal settlements , decrease in allowance for doubtful accounts , natural disaster - related expenses , other acquisition- and integration - related costs , and a charge related to the U.K. statutory tax rate change . Second quarter 2020 reported net income from continuing operations was $ 99 million , or $ 0.42 per diluted share , and adjusted net income from continuing operations was $ 258 million , or $ 1.09 per diluted share . The second quarter 2021 reported and adjusted effective tax rates were about 27 % and 23 % respectively , compared to the second quarter 2020 reported and adjusted effective tax rates of about 23 % and 25 % respectively . Detailed reconciliations of the reported to adjusted figures are included below . " Our strong organic sales growth reflects a partial demand recovery from the pandemic , including above - market contributions across many of our businesses . However , our volume growth was significantly tempered due to various supply and component disruptions , including those that reduced the overall manufacturing capability of our customers . In addition , despite strong underlying end - use market demand , various coatings raw material shortages and logistics issues reduced our ability to fully supply our existing order book within the quarter . Our recent acquisitions also contributed to our strong year - over - year sales growth , and they are meeting our expectations , " said Michael H. McGarry , PPG chairman and chief executive officer . " While we delivered solid adjusted EPS in the second quarter , our results were below our April forecast . In addition to the top - line impact from the supply disruptions , we experienced continual increases in raw material and transportation costs throughout the quarter . We actively implemented additional selling price increases during the quarter and our pace of price realization is well ahead of the most recent raw material inflation cycle in 2017-2018 . In addition to further selling price increases , we delivered about $ 40 million of structural cost savings from business restructuring programs and have increased our targeted , full - year 2021 savings by about 10 % , to $ 135 million . We also continued our outstanding cash flow generation which year to date is about $ 600 million , or about $ 250 million higher than 2020 . 1/15