and Today, good we and full afternoon, quarter John, you, XXXX financial Thank results. year fourth reported everyone.
achieved the This an $X.X rate we for were adjusted about of fourth of rate about operations $X.XX. X% per EPS the were from and X% year. sales our the quarter, our quarter, an earnings represents EPS diluted for net share billion, and continuing For growth growth
goals, While these raw were figures fall impacted noticeably short material rate persistent elevated of by EPS inflation. both numbers growth our and
reported Supporting were nearly X%, local X%. local were For while the currency the than currencies sales our volumes in higher by increased of more X%. sales quarter, our sales increased up net
This rate quarter quarter quarterly produced XXXX. highest the growth fourth our of since
quarter Our strong the region from volume each growth with least each segment. growth volume operating in X% balanced, fourth sales at was and contribution
currency dollar, currencies translation favorably the second half Foreign in by and million. with from to income the approximately impacted the of of shifted a $XXX about strengthened $XX quarter first half against fourth net the pretax foreign million certain as headwind tailwind a by sales in XXXX year impacted
sales, the on on For favorable the $X was full impact however, earnings. by year, million unfavorable by million pretax about $XX
quarter the business trends Looking end market fourth in perspective. at some an from
was growth coatings digit exceeding can our matching volume our volumes accelerated. in industry growth high-single Coatings as respective to each up the highest in rate segment, or world INNOVEL Sales around coatings Our were Industrial with packaging adoption products interior achieved business the percentage unit rates.
coatings volumes Aerospace performance quarter sales sales the coatings strong, in OEM quarter. line region. mid-single-digit from with Europe softer continued specialty solid materials, sales growth growth sales strong in eighth a producing coatings year flat and the with a mid-single-digit growth performance above-market Americas by company-owned Pacific line EMEA our in stores solid architectural third delivering organic saw industrial rebounding aligned with Northern and sales by which supported Europe. growth, posted disappointing builds. the France, refinish percentage, percentage, U.S. U.S. and sales organic sales mid-single-digit Coatings, in achieve volumes coatings and of sales market in grew in mid-single-digit global grew the volumes were to as the Canada finished automotive volumes grow continue emerging Asia In We in volumes above-market each above-market Performance in industry Automotive and continue automotive consecutive regions. We positive the general growth. volume by Sales with Architectural with U.S. to also low demand. from contributions rate, single-digits and market and year-over-year above-market and
Our independent is from these to national relatively retail flat year, and in dealer quarters' compared network which trend channels. last recent improvement were unfavorable accounts an
has more our work with quarter, and to our we last locations, continue further. the Home been update Timeless Depot the Depot an to in PPG product expand As this Home to added to
are on to to America additional Sales Latin post-earthquake will by impacted was and slowdown in quarter the another our as architectural activities growth-related to market PPG-Comex in flat, beginning Mexico. and the Canada starting Our we during spend pay growth in was target business modestly related also dividends, U.S. Mexican the year. sales the lower business million investments $XX in full
growth overall mid-teen and delivered Central that to a business, growth also America happy our continued We Albeit architectural percentage. business. architectural Central in coatings I'm to Australian report above-market by China grow our business smaller business our and America in
costs driven this moderating in volume activity scratch our past Asia, aggregate earnings year, business done coatings by the and solid offset Protective to regional volume perspective, have This emerging neutralize sales compared marine marine by weakness from a growth aggressively in an years. business supported sales in the regions. a year regional of with into declines grown job up From level last coatings. managing impact were the marine several to We expected coatings sales the by was protective coatings during has leader excellent slightly in volumes. market-based sales
demand sales to Overall strong prior by in comparison quarter businesses our and grew business difficult regional Volume driven this XXXX. mid-single-digits remind I'll comparison our grew Asian volumes heavy-duty automotive many offset period. was Crown flat year October. in Asia nearly with Group in are Sales which our in by and outperformance sales America that up line coatings coatings growth segment, industry and quarter by customers. also and our from quarter in broader OEM region growth indicators after the improving percentage region, Industrial Crown lower in you volume, were Coatings serves Europe decline percentage, manufacturing very regional across in a volume the third in industrial volumes from broad-based in by Latin volumes that Canada, volumes a automotive of automotive fourth Performance was Coatings many led improved in acquisition various up customers, this U.S. Supplementing against company's led the The Growth XX% the growth broad-based the including acquisition-related typically XXXX. general businesses The balanced production, both in economic OEM and were gains volumes the the segments. were early a packaging the Group aerospace Industrial growth low in completed single-digit with was recovery. in leading builds. growth equipment and industrial, for coatings. including
the diluted pleased business quarter. adjusted as improved equipment in early are of share the by to is own our We the fourth X% recovery. earnings earnings of quarter heavy-duty stages versus market prior $X.XX per an perspective, From the
in factors third Our from earnings were by quarter. impacted natural the disasters that residual happened
that various experienced costs we for supply. short Specifically, key are raw materials in higher
from during XXXX a EPS. $X.XX in sales EPS full and a were impact had our the on year Rico the $X.XX on effects PPG-Comex Additionally, impact our natural These especially lingering and Puerto month impacted, disasters business fourth of October. our architectural quarter
in prior Excluding diluted the Also percentage in fourth continued by we the mid-single-digit raw increased fourth about fourth the important seasonally year. a our material -- seasonally tend in the material that earnings to share and from per is increase quarter. adjusted costs the natural experienced low quarter disasters, elevated at inflation X%. quarter Raw moderate
secured up However, supplier the China, of is last with expect production to to increase. in curtailments. quarter, this this inflation. in offsetting year, persistent ongoing abate the the price further focused quarter on versus level year Selling were our We work prior the main prices quarter continued XXXX. with now the into inflation enforcement first well further current of driver half pricing We initiatives, this raw first do they continued on regulations environmental of XXXX. material to to We're inflation selling resulting in The continuing XXXX. in third first the which is expect customers of not for additional modestly
with efforts expected are These working research, mitigate as resources to efforts increases yield efficiency, the third expanded to of raw as the first suppliers our on and XXXX. raw are through quarter. material with after beginning progress and material more our we benefits, We the modest half have said, efficiency we
inflation we initiatives, partially are material raw aggressive mitigating In cost selling management. through addition price to
restructuring to targeted are range. achieving savings of We from of upper million actions achieve our our end XXXX, able business the in $XX
at also actions, We as self-help PPG. is a heritage did of variety our other
impact more the $XXX In actions. were fourth XXXX. from quarter bringing year our the diluted addition, of our stock PPG of versus earnings of million repurchase shares. outstanding X% quarter, quarter, lower deployment than or includes benefited of $XXX million ongoing in repurchase XXXX This a the cash X shares In total the average to over fourth full share million per
third a on These continuing divested results quarter results, On include $XX.X like X% in operations XXXX. full results operations. comment the which I'd do quickly year. from more of approximately than billion, sold Now continuing higher to year than sales basis, full our not prior our year was U.S. from business were fiberglass
growth of more by nearly sales half Our than full X%. second volumes grew year with volumes X%,
up unexpected in another nearly grow prior supply China. earnings in disruptions execution. of very year. X% Europe, the adjusted a to number diluted able These majeures supplier industry full operational coatings disruptions Our during include natural $X.XX, year. this curtailments and to of We versus earnings our production force severe strong several share year was were accomplished disasters year the despite high with significant per We chain
our of reduction as years actions to and to working significant program, growth X cost capital of year, reduction the management, deliver XXX our improved a and achievement administrative basis commitments; reduced of aggressive year continued of selling, savings more it reduction above-market XX prior one past costs operating us sales; finally, from new and to points, earnings our businesses; restructuring several accretion -- commercialization on allowing percentage our delivering and by of sales. the productivity including previously hallmark to of successful percentage in announced point Our XX our basis integration and technologies, and in as total acquisitions; another our general This bringing included as by basis current points. exemplified products a
growth-related In will and rate investments to growth continue this these allocated expect we going our organic in dividends resources addition operational yield more opportunities to and that items, toward forward.
based course strategic to and services; coating of of The in DEUTEK, year, strengthen further our on objective the Crown coatings leader; continue acquisition we the China. Romanian company leading business portfolio a Southern to the company. provider an optimized of the with automotive We a our execute Over Group, refinish Futian, architectural
a completed multiyear sale remaining with also We fiberglass business. our the business, our last U.S. noncore of portfolio transformation
We are and paints, company. now services materials a coating specialty coatings, XXX% core focused
on We develop will customers. customer to continue technology and our relationships leading-edge support build our to strong
allows the economic intensity, us deliver portfolio be operating and Our and shifts more flow, overall resilient in to capital requires to to we expect less strong cash consistent activity.
strong our the operations continued billion also generated continuing from with We year. about cash for generation $X.X
I efficient this more be As working was cash enablers mentioned to performance of key our one of capital. earlier, with the our continuing effort
addition, philosophy, returning our dividends. capital in with and we of In with shareholders consistent to billion our cash allocation share nearly repurchases legacy $X.X continued
XXth XXXX Regarding dividends, year annual July XXXX payouts a after XXth -- payout year. XXXth increases I'm and that dividend marked the increase of consecutive consecutive XX% year sorry, the in we proud consecutive are of
in rates As may growth expectation improve a growth, Pacific further enacted rate growth forward including including America. We more XXXX. in reform overall our Asia momentum growth and gradually XXXX, in in economic U.S. in production we higher legislation rates rates and Latin tax and Canada, global look higher regions, in acceleration believe to We positive continuing U.S. is U.S. growth growth the developed for improving continued the anticipate modest GDP economic and industrial versus the recently to bring
excuse expect markets our to or U.S. However, construction me, we our be we the expect, impacted. expand we there to do are and end uncertainties, not Specific in business, how -- do including -- will many expect many still markets Europe. do
wildcard with be expect and rate South in following relatively Automotive the consistent also elements uptick We housing and growth but optimistic Even end-use market down Economic in rates coatings automotive as Favorable Asia Europe in continue, Growth in remain are industrial build greatest view growth we we to in expected the expansion expired. has remain in expect gains varied modest continued expected XXXX. well industry positive. OEM continue to XXXX economic all subregion in engine rates growth remain on ensure of that believe expected slightly competitive growth, are generally country. as production by China America, for to to our particularly structure, conditions. year-over-year. are to control with is to trends in to small starts a will region, our will more continuing lastly, with expected that anticipate as And expected remain our to in build recent within We'll and manage Asia regional regardless is support our In execute to the restructuring XXXX, subsidy focus initiatives. economic Southeast we we and aggressively economic overall with Mexico, where better XXXX. program, on our growth flat reducing be of cost growth-related China India. momentum of Latin business continue to a improvement automotive America, the builds will in in flat we over industry continue we
As at inflation material to persist first levels the quarters. least current we earlier, expect for X at raw mentioned
continue our inflationary We to XXXX. address with work the environment will customers in expect price realize selling to additional increases to and
in with a strength $X.X over with we in short-term which financial flexibility remain ended us the billion a year and significant position as investments, going provides Finally, we cash forward. of
our $X.X deploy to deploy a are acquisitions billion and part share We XXXX combined. and as of committed in previously in cash on a billion of of minimum of repurchases minimum to target XXXX communicated $X.X XXXX
XXXX We pipeline plan and believe repurchase geographies to remains coatings a first quarter. We markets. in end shares remains our and the continue continue use the consolidating to to I across active short space acquisition but industry, of We delivered a industry, targets. was despite will solid EPS conclude EPS that adjusted we supply our of a for saying in by year PPG. growth growth plethora our fell disruptions
another more various future. However, Vince, year and And financial cover to in make strategic XXXX resilient successful actions We company over to in to look now continue I who the assumptions. stronger will we to completed turn XXXX. the forward some will
