Morningstar expects PPG Industries' Q3 sales to be hit by weakness in industrial unit
** Industrial coatings maker PPG Industries' PPG.N sales likely to be slightly down in Q3 due to mid-single digit decline in its industrial segment's sales, Morningstar analyst Spencer Liberman says
** PPG's shares rise 0.6% to $128.28
** "Flat or low organic growth will likely drive the flat revenue growth in the quarter....industrial headwinds will likely remain through the remainder of the year," Liberman says
** Sees automotive original equipment manufacturer segment to face headwinds through the remainder of the year as auto sales moderate
** "That said, we are very interested in what the outcome will be for its strategic review of the U.S. and Canada architectural coatings business"
** Analysts expect PPG's Q3 earnings to be $2.15/shr, according to data compiled by LSEG
** PPG reported earnings of $2.50/shr in Q2; in Q3 2023, it posted earnings of $2.07/shr
** Including session's gains, stock down 14.31% YTD
Reporting by Pooja Menon in Bengaluru
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