Question · Q4 2025
Josh Weesley (Baird) asked for an update on the Industrial segment's performance relative to expectations in Q4 2025, and management's current thoughts on business trends on a regional basis.
Answer
CEO Chris Villavarayan stated that Industrial sales were lower in Q4, primarily market-driven, but anticipated green shoots in 2026, especially in the back half, due to potential interest rate reductions and construction-spurring policies. He highlighted strong 5% growth in Asia-Pac in Q4, driven by EV-related coatings, while North America and Europe remained sluggish. He also praised the Industrial team for exceeding margin improvement targets by 200 basis points.
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