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    Ryan Weis • KeyBanc Capital Markets

    Ryan Weis's questions to PPG Industries Inc (PPG) leadership

    Ryan Weis's questions to PPG Industries Inc (PPG) leadership • Q2 2025

    Question

    Speaking for Alexey Yefremov, Ryan Weis of KeyBanc Capital Markets asked about the Automotive OEM market in China, citing reports of elevated inventories and seeking an outlook on production for the next 6-12 months.

    Answer

    CEO Timothy Knavish responded that China's production outlook remains better than the rest of the world and that PPG's productivity-enhancing technologies are highly valued there, especially with key EV makers. CFO Vince Morales added that auto exports from China, up about 10% year-to-date, provide an additional driver for production growth.

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    Ryan Weis's questions to PPG Industries Inc (PPG) leadership • Q2 2025

    Question

    Ryan Weis of KeyBanc Capital Markets, on for Alexey Yefremov, inquired about the Automotive OEM outlook in China, given recent reports of elevated inventories and changes in pricing dynamics.

    Answer

    Chairman & CEO Timothy Knavish described China as a 'buffer' for the auto OEM business, with production outperforming the rest of the world. He emphasized that PPG's productivity-focused technologies and strong position with a leading EV manufacturer are key advantages. CFO Vince Morales added that strong auto exports from China, up 10% year-to-date, are another positive driver for production.

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    Ryan Weis's questions to Ecovyst Inc (ECVT) leadership

    Ryan Weis's questions to Ecovyst Inc (ECVT) leadership • Q1 2025

    Question

    Speaking on behalf of Aleksey Yefremov, Ryan Weis of KeyBanc Capital Markets asked for the basis of management's confidence in the second-half weighted 2025 guidance, given market uncertainty. He also inquired about the synergy potential from the Cornerstone acquisition and the expected timeline for realization.

    Answer

    CFO Michael Feehan addressed the guidance, stating that the back-half weighting is driven more by the timing of turnaround costs (concentrated in H1) and sales timing in the AM&C segment, rather than volume risk. He cited strong end markets, positive trends in hydrocracking, and favorable pricing in Ecoservices as reasons for confidence. CEO Kurt Bitting added that Cornerstone synergies include significant network benefits from a new Gulf Coast supply point and 'horizontal synergies' from applying Ecovyst's operational expertise, which they expect to capture quickly.

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