PPG Industries Inc. (PPG - Free Report) has launched PPG NEXEON 810, a novel copper-free antifouling coating designed with a strong emphasis on vessel performance, emission reduction and sustainability. Independent testing demonstrates that the ultrasmooth surface of the PPG Nexeon 810 coating can provide an immediate gain in power of up to 10% while increasing operational efficiency by up to 15% due to superior fouling control capabilities.
Using PPG Nexeon 810 coating reduces fuel consumption and significantly lowers greenhouse gas (GHG) emissions, allowing a vessel to maintain higher speeds while assisting vessel owners and operators in meeting the International Maritime Organization's carbon intensity indicator requirements. The coating's unique formula can reduce GHG emissions by up to 25% compared to typical antifouling coatings, and it provides 60 days of idle time resistance with minimum speed loss.
The unique binder technology ensures that the coating has controlled and predictable solubility, ensuring high performance throughout the vessel's operational life. PPG Nexeon 810 coating is also ideal for electrostatic applications and provides excellent color retention over the vessel's entire service life.
PPG Nexeon 810 coatings offer the ideal blend of innovative coatings technology, better vessel performance and responsible environmental protection. The copper-free technique in PPG Nexeon 810 coating has a much lower biocide concentration. Its unique binder technology allows for the progressive release and operation of the biocides near the surface. Once in the water, the combined effects of sunshine and ocean microbes initiate the breakdown of these organic biocides.
Shares of PPG have gained 10.9% over the past year compared with a 31.7% rise of its industry.
For the first quarter of 2024, the company anticipates an adjusted EPS in the band of $1.80-$1.87. For full-year 2024, the company foresees its adjusted EPS to be in the range of $8.34-$8.59.
The effective tax rate for the first quarter is projected to be between 24% and 25%, implying an increase from the previous year’s figure. This uptick is attributed to various factors, including the impact of heightened regional tax rates and the anticipated distribution of country-specific earnings.
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Hawkins, Inc. (HWKN - Free Report) .
Denison Mines carrying a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 85.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 63.1% in the past year.
The Zacks Consensus Estimate for Hawkins’ current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26.2%. The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised 4.3% upward in the past 30 days. HWKN, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have rallied roughly 81.3% in the past year.
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PPG Industries Inc. (PPG - Free Report) has launched PPG NEXEON 810, a novel copper-free antifouling coating designed with a strong emphasis on vessel performance, emission reduction and sustainability. Independent testing demonstrates that the ultrasmooth surface of the PPG Nexeon 810 coating can provide an immediate gain in power of up to 10% while increasing operational efficiency by up to 15% due to superior fouling control capabilities.
Using PPG Nexeon 810 coating reduces fuel consumption and significantly lowers greenhouse gas (GHG) emissions, allowing a vessel to maintain higher speeds while assisting vessel owners and operators in meeting the International Maritime Organization's carbon intensity indicator requirements. The coating's unique formula can reduce GHG emissions by up to 25% compared to typical antifouling coatings, and it provides 60 days of idle time resistance with minimum speed loss.
The unique binder technology ensures that the coating has controlled and predictable solubility, ensuring high performance throughout the vessel's operational life. PPG Nexeon 810 coating is also ideal for electrostatic applications and provides excellent color retention over the vessel's entire service life.
PPG Nexeon 810 coatings offer the ideal blend of innovative coatings technology, better vessel performance and responsible environmental protection. The copper-free technique in PPG Nexeon 810 coating has a much lower biocide concentration. Its unique binder technology allows for the progressive release and operation of the biocides near the surface. Once in the water, the combined effects of sunshine and ocean microbes initiate the breakdown of these organic biocides.
Shares of PPG have gained 10.9% over the past year compared with a 31.7% rise of its industry.
For the first quarter of 2024, the company anticipates an adjusted EPS in the band of $1.80-$1.87. For full-year 2024, the company foresees its adjusted EPS to be in the range of $8.34-$8.59.
The effective tax rate for the first quarter is projected to be between 24% and 25%, implying an increase from the previous year’s figure. This uptick is attributed to various factors, including the impact of heightened regional tax rates and the anticipated distribution of country-specific earnings.
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Hawkins, Inc. (HWKN - Free Report) .
Denison Mines carrying a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 85.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 63.1% in the past year.
The Zacks Consensus Estimate for Hawkins’ current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26.2%. The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised 4.3% upward in the past 30 days. HWKN, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have rallied roughly 81.3% in the past year.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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