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PPG Industries, Inc. (PPG - Free Report) recently unveiled PPG Envirocron PCS P4 powder coatings for architectural, home decor and furniture applications. The state of the art powder coatings meet the fast-growing demand for the various finishes used in applications ranging from aluminum and steel substrates for building construction to urban and office furniture.
These polyester-based coatings are highly resistant to scratch and UV rays, thereby boasting an extended product life. The coatings provide contemporary finishes that deftly conceal substrate irregularities and casting defects in architectural applications. The enhanced edge coverage allows these to offer excellent corrosion protection for aluminum extrusions and sheets and steel and galvanized steel substrates. They also meet the key GSB International and Qualicoat standards for polyester-based powder coatings.
PPG noted that as a globally renowned color expert, it is aiming to bring the technical know-how to the architecture market and ensure that its coatings range is in line with the latest trends without compromising on the product performance.
Shares of PPG have grown 43.4% over a year, outperforming the industry’s 32.9% rise.
Image Source: Zacks Investment Research
In the second quarter, the company recorded adjusted earnings of $1.94 per share, missing the Zacks Consensus Estimate of $2.19. Its net sales of $4,359 million, which increased 44.6% from the year-ago quarter, also missed the Zacks Consensus Estimate of $4,418.2 million.
The company expects higher aggregate input and logistics costs in the third quarter compared with the second quarter. It will continue to prioritize further selling price increases, which is expected to fully offset raw-material cost inflation before the end of 2021, on a run-rate basis.
The overall economic demand growth is projected to remain broad and strong. The company also anticipates strong sales growth later this year and in 2022 aided by its technology-advantaged products, diverse geographic and end-use market participation as well as its aerospace business’ continued recovery.
Moreover, PPG expects structural cost savings from restructuring actions of roughly $30 million year over year in the third quarter. Corporate expenses are expected to increase to $60 million in the third quarter from $52 million. Net interest expenses are expected to range between $28 million and $30 million.
Image: Bigstock
PPG Industries (PPG) Introduces Powder Coatings Product
PPG Industries, Inc. (PPG - Free Report) recently unveiled PPG Envirocron PCS P4 powder coatings for architectural, home decor and furniture applications. The state of the art powder coatings meet the fast-growing demand for the various finishes used in applications ranging from aluminum and steel substrates for building construction to urban and office furniture.
These polyester-based coatings are highly resistant to scratch and UV rays, thereby boasting an extended product life. The coatings provide contemporary finishes that deftly conceal substrate irregularities and casting defects in architectural applications. The enhanced edge coverage allows these to offer excellent corrosion protection for aluminum extrusions and sheets and steel and galvanized steel substrates. They also meet the key GSB International and Qualicoat standards for polyester-based powder coatings.
PPG noted that as a globally renowned color expert, it is aiming to bring the technical know-how to the architecture market and ensure that its coatings range is in line with the latest trends without compromising on the product performance.
Shares of PPG have grown 43.4% over a year, outperforming the industry’s 32.9% rise.
Image Source: Zacks Investment Research
In the second quarter, the company recorded adjusted earnings of $1.94 per share, missing the Zacks Consensus Estimate of $2.19. Its net sales of $4,359 million, which increased 44.6% from the year-ago quarter, also missed the Zacks Consensus Estimate of $4,418.2 million.
The company expects higher aggregate input and logistics costs in the third quarter compared with the second quarter. It will continue to prioritize further selling price increases, which is expected to fully offset raw-material cost inflation before the end of 2021, on a run-rate basis.
The overall economic demand growth is projected to remain broad and strong. The company also anticipates strong sales growth later this year and in 2022 aided by its technology-advantaged products, diverse geographic and end-use market participation as well as its aerospace business’ continued recovery.
Moreover, PPG expects structural cost savings from restructuring actions of roughly $30 million year over year in the third quarter. Corporate expenses are expected to increase to $60 million in the third quarter from $52 million. Net interest expenses are expected to range between $28 million and $30 million.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Stocks to Consider
Currently, PPG Industries carries a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include BASF SE (BASFY - Free Report) , LyondellBasell Industries N.V. (LYB - Free Report) and Avient Corporation (AVNT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BASF has a projected earnings growth rate of 96.7% for the current year. The company’s shares have grown 35.3% over a year.
LyondellBasell has a projected earnings growth rate of 222.6% for the current year. The company’s shares have risen 52.2% over a year.
Avient has a projected earnings growth rate of 75.2% for the current year. The company’s shares have rallied 86.2% over a year.