Performance Coatings – Overview
- Revenue up 5 percent in Q3 due to favorable price/mix and currencies more than offsetting lower volumes
- Operating income up 56 percent driven by cost reductions from performance improvement initiatives, lower costs, manufacturing productivity, lower restructuring expenses and currencies
- ROS increased to 14.1 percent (2014: 9.5 percent) and ROI increased to 26.5 percent (2014: 20.9 percent)
Revenue was up 5 percent, benefiting from favorable currencies and continued strong demand for premium products. Volumes declined in the quarter due to ongoing capital spending declines in the global oil and gas industry and further weakening in some markets, most notably Brazil and China.
Operating income increased 56 percent driven by cost reductions from performance improvement initiatives, lower costs, favorable product mix, lower restructuring charges and favorable currency developments.