Revenue during the quarter went up marginally by 0.71 percent to $3,569 million from $3,544 million in the previous year period. Gross margin for the quarter contracted 99 basis points over the previous year period to 44.83 percent. Total expenses were 85.68 percent of quarterly revenues, up from 85.50 percent for the same period last year. That has resulted in a contraction of 19 basis points in operating margin to 14.32 percent.

"We continued to deliver higher year-over-year adjusted earnings per diluted share, increasing by more than 6 percent in the first quarter. This growth was despite moderate but uneven global market demand and the unfavorable impact from foreign currency translation," said Michael McGarry, PPG chairman and chief executive officer. "Our earnings-per-share growth rate improved versus the fourth quarter 2016, benefiting from our ongoing cash deployment, sales volume growth and continued cost discipline, but negatively impacted by increasing raw material costs, which we partially offset with our initial pricing actions," McGarry said.