PPG Industries, Inc. (PPG - Free Report) announced that its Homax brand launched Homax Tex Pro Texture System by PPG, which is a proprietary sprayer and cartridge system designed to apply drywall spray texture on interior walls and ceilings.
The latest launch gives a faster, lighter and better experience than conventional hopper guns, especially for professional contractors making mid-sized repairs or remodels.
The Homax Tex Pro Texture System’s innovative pre-mixed cartridges have 70% faster use, saving professional contractors time and money on the jobsite versus traditional hopper sprayers, including time-consuming setup and cleanup. The system is also made 60% lighter than traditional sprayers when full and has a two-handed grip, which allows for greater ease of use. The Homax Tex Pro Texture System makes texture application a one-person job, facilitating jobsite productivity and efficiency.
The innovative sprayer system’s two-handed neutral grip distributes weight for effortless operation compared with a top-heavy traditional hopper. Its no-spill, cartridge-based design lets users easily apply texture to both walls and ceilings at any angle. Conventional hoppers have an open top and require users to climb a ladder and bend backward to texture a ceiling. Homax Tex Pro Texture System’s ease of use is expected to help professional contractors complete jobs efficiently.
Shares of the company have declined 32% in the past year compared with a 10.1% decline of the industry.
In its last earnings call, the company stated that it sees overall underlying demand for its products to remain strong, including sustained recovery in certain end-use markets. It also expects further volume growth in automotive refinish and aerospace coatings businesses in the coming quarters.
PPG Industries projects earnings per share (EPS) of between $1.44 and $1.74 for second-quarter 2022. Adjusted EPS is expected in the range of $1.60-$1.90, excluding amortization expenses of 14 cents and costs related to earlier approved and communicated business restructuring of 2 cents.
The company expects aggregate net sales volumes to be down a low-to-mid-single-digit percentage on a year-over-year basis in the second quarter.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nutrien Ltd. (NTR - Free Report) , Albemarle Corporation (ALB - Free Report) and Cabot Corporation (CBT - Free Report) .
Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 38.8% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, while missing once. It has delivered a trailing four-quarter earnings surprise of roughly 5.9%, on average. NTR has rallied around 66.1% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle has a projected earnings growth rate of 175% for the current year. The Zacks Consensus Estimate for ALB’s current-year earnings has been revised 85.8% upward in the past 60 days.
Albemarle’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22.5%. ALB has gained 42.1% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 19.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 3.4% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 10.4% over a year.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
PPG Industries, Inc. (PPG - Free Report) announced that its Homax brand launched Homax Tex Pro Texture System by PPG, which is a proprietary sprayer and cartridge system designed to apply drywall spray texture on interior walls and ceilings.
The latest launch gives a faster, lighter and better experience than conventional hopper guns, especially for professional contractors making mid-sized repairs or remodels.
The Homax Tex Pro Texture System’s innovative pre-mixed cartridges have 70% faster use, saving professional contractors time and money on the jobsite versus traditional hopper sprayers, including time-consuming setup and cleanup. The system is also made 60% lighter than traditional sprayers when full and has a two-handed grip, which allows for greater ease of use. The Homax Tex Pro Texture System makes texture application a one-person job, facilitating jobsite productivity and efficiency.
The innovative sprayer system’s two-handed neutral grip distributes weight for effortless operation compared with a top-heavy traditional hopper. Its no-spill, cartridge-based design lets users easily apply texture to both walls and ceilings at any angle. Conventional hoppers have an open top and require users to climb a ladder and bend backward to texture a ceiling. Homax Tex Pro Texture System’s ease of use is expected to help professional contractors complete jobs efficiently.
Shares of the company have declined 32% in the past year compared with a 10.1% decline of the industry.
In its last earnings call, the company stated that it sees overall underlying demand for its products to remain strong, including sustained recovery in certain end-use markets. It also expects further volume growth in automotive refinish and aerospace coatings businesses in the coming quarters.
PPG Industries projects earnings per share (EPS) of between $1.44 and $1.74 for second-quarter 2022. Adjusted EPS is expected in the range of $1.60-$1.90, excluding amortization expenses of 14 cents and costs related to earlier approved and communicated business restructuring of 2 cents.
The company expects aggregate net sales volumes to be down a low-to-mid-single-digit percentage on a year-over-year basis in the second quarter.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nutrien Ltd. (NTR - Free Report) , Albemarle Corporation (ALB - Free Report) and Cabot Corporation (CBT - Free Report) .
Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 38.8% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, while missing once. It has delivered a trailing four-quarter earnings surprise of roughly 5.9%, on average. NTR has rallied around 66.1% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle has a projected earnings growth rate of 175% for the current year. The Zacks Consensus Estimate for ALB’s current-year earnings has been revised 85.8% upward in the past 60 days.
Albemarle’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22.5%. ALB has gained 42.1% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 19.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 3.4% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 10.4% over a year.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on PPG - FREE
Get the latest research report on ALB - FREE
Get the latest research report on CBT - FREE
Get the latest research report on NTR - FREE