PPG Industries Inc. (PPG - Free Report) recently announced a $44 million investment in five powder coating manufacturing plants across the United States and Latin America. The projects are part of PPG's strategic efforts to broaden its powder coatings capabilities and enhance worldwide production in order to meet increasing customer demand for sustainable options.
The investment, totaling $30 million for U.S. plants and $14 million for Latin American facilities, is expected to increase the overall capacity, add production capabilities for bonded metallic powders, improve processing times with automated packaging and boost capabilities to produce small, medium and large batches. Enhancements and expansions are either fully completed or are in process at powder production plants in Brazil, IN, Gainesville, TX, Greensboro, NC, San Juan del Rio, Mexico, and Sumare, Brazil. PPG anticipates completing these projects by the fourth quarter of 2023.
PPG continues to expand its powder coatings business to fulfill worldwide customers’ demand and enhance their experience. These targeted expansions will improve access to both new and old items.
The stock has gained 6.2% over the past year against 5.3% decline of its industry.
PPG projects adjusted earnings of $6.95-$7.25 per share for 2023. The prediction excludes amortization expense, non-cash pension settlement charge, benefit from insurance recovery and costs related to earlier approved and communicated business restructuring.
Factoring in current global economic activities, geopolitical issues in Europe and higher interest rates in most developed countries, the company expects sales volumes in second-quarter 2023 to be flat with the potential for slight improvement or decrease of a low single-digit percentage year over year. Adjusted earnings for the second quarter are projected in the band of $2.05-$2.15.
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the basic materials space include Koppers Holdings Inc. (KOP - Free Report) , AngloGold Ashanti Limited (AU - Free Report) and Linde plc (LIN - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Koppers currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for current-year earnings for KOP is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 13.64%, on average. KOP has gained around 7.4% in a year.
AngloGold Ashanti currently carries a Zacks Rank #2. The Zacks Consensus Estimate for AU’s current-year earnings has been revised 22% upward in the past 60 days. The consensus estimate for current-year earnings for AU is currently pegged at $1.94, suggesting year-over-year growth of 50.4%. AngloGold Ashanti’s shares have surged roughly 37.4% in the past year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days. Linde beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9% on average. LIN’s shares have gained roughly 9.3% in the past year.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
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PPG Industries Inc. (PPG - Free Report) recently announced a $44 million investment in five powder coating manufacturing plants across the United States and Latin America. The projects are part of PPG's strategic efforts to broaden its powder coatings capabilities and enhance worldwide production in order to meet increasing customer demand for sustainable options.
The investment, totaling $30 million for U.S. plants and $14 million for Latin American facilities, is expected to increase the overall capacity, add production capabilities for bonded metallic powders, improve processing times with automated packaging and boost capabilities to produce small, medium and large batches. Enhancements and expansions are either fully completed or are in process at powder production plants in Brazil, IN, Gainesville, TX, Greensboro, NC, San Juan del Rio, Mexico, and Sumare, Brazil. PPG anticipates completing these projects by the fourth quarter of 2023.
PPG continues to expand its powder coatings business to fulfill worldwide customers’ demand and enhance their experience. These targeted expansions will improve access to both new and old items.
The stock has gained 6.2% over the past year against 5.3% decline of its industry.
PPG projects adjusted earnings of $6.95-$7.25 per share for 2023. The prediction excludes amortization expense, non-cash pension settlement charge, benefit from insurance recovery and costs related to earlier approved and communicated business restructuring.
Factoring in current global economic activities, geopolitical issues in Europe and higher interest rates in most developed countries, the company expects sales volumes in second-quarter 2023 to be flat with the potential for slight improvement or decrease of a low single-digit percentage year over year. Adjusted earnings for the second quarter are projected in the band of $2.05-$2.15.
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the basic materials space include Koppers Holdings Inc. (KOP - Free Report) , AngloGold Ashanti Limited (AU - Free Report) and Linde plc (LIN - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Koppers currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for current-year earnings for KOP is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 13.64%, on average. KOP has gained around 7.4% in a year.
AngloGold Ashanti currently carries a Zacks Rank #2. The Zacks Consensus Estimate for AU’s current-year earnings has been revised 22% upward in the past 60 days. The consensus estimate for current-year earnings for AU is currently pegged at $1.94, suggesting year-over-year growth of 50.4%. AngloGold Ashanti’s shares have surged roughly 37.4% in the past year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days. Linde beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9% on average. LIN’s shares have gained roughly 9.3% in the past year.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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