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PPG Industries (PPG) to Launch LINQ for Refinish Industry
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PPG Industries, Inc. (PPG - Free Report) has announced that it will start a phased launch of PPG LINQ – its revolutionary, new end-to-end digital solution for customers of the global automotive refinish industry. The first set of LINQ technologies and services will be available in early 2022 as part of a multi-year rollout.
PPG has made use of its cross-industry expertise in automotive coatings and digital color matching technologies to develop the connectivity platform that has the potential to improve all aspects of customer experience and internal body shop operations.
The refinish body shop clientele will benefit from the platform. They will be able to streamline their entire repair process using the cloud-based LINQ platform and its interconnected digital hardware and software, coming up with more consistent and cost-effective results. Customers will also get the chance to engage in more sustainable operations by ensuring waste reduction and minimization of environmental impact. Additionally, the tools will enhance profitability by minimizing human error and increasing efficiency during the entire repair process.
The LINQ platform is not limited to the body shop environment only. It extends beyond that so that repair facilities are directly connected with key industry stakeholders like distributors, manufacturers, insurance companies and end users. The platform’s streamlined processes and communication tools enable improved partner relationships with distributors, customer intimacy, and enhance visibility with aftermarket partners to aid decision-making and business expansion.
PPG noted how digital solutions are transforming customer experiences and its dedicated customer-centric approach makes it heavily invested in providing sustainable solutions to design the future body shops. Customers are interested in easy and seamless digital interactions, and the LINQ platform is expected to steer the company’s operations in that direction.
Shares of PPG have grown 29.2% over a year, outperforming the industry’s 25.4% rise.
Image Source: Zacks Investment Research
The company expects a sequential rise in aggregate input and logistics costs in the third quarter. It will continue to prioritize further selling price increases, which are 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 for the third quarter. Corporate expenses are expected to increase to $60 million in the third quarter from $52 million in the second quarter. Net interest expenses are expected between $28 million and $30 million. The company also foresees adjusted earnings for the full year in the band of $7.4-$7.6 per share.
Image: Bigstock
PPG Industries (PPG) to Launch LINQ for Refinish Industry
PPG Industries, Inc. (PPG - Free Report) has announced that it will start a phased launch of PPG LINQ – its revolutionary, new end-to-end digital solution for customers of the global automotive refinish industry. The first set of LINQ technologies and services will be available in early 2022 as part of a multi-year rollout.
PPG has made use of its cross-industry expertise in automotive coatings and digital color matching technologies to develop the connectivity platform that has the potential to improve all aspects of customer experience and internal body shop operations.
The refinish body shop clientele will benefit from the platform. They will be able to streamline their entire repair process using the cloud-based LINQ platform and its interconnected digital hardware and software, coming up with more consistent and cost-effective results. Customers will also get the chance to engage in more sustainable operations by ensuring waste reduction and minimization of environmental impact. Additionally, the tools will enhance profitability by minimizing human error and increasing efficiency during the entire repair process.
The LINQ platform is not limited to the body shop environment only. It extends beyond that so that repair facilities are directly connected with key industry stakeholders like distributors, manufacturers, insurance companies and end users. The platform’s streamlined processes and communication tools enable improved partner relationships with distributors, customer intimacy, and enhance visibility with aftermarket partners to aid decision-making and business expansion.
PPG noted how digital solutions are transforming customer experiences and its dedicated customer-centric approach makes it heavily invested in providing sustainable solutions to design the future body shops. Customers are interested in easy and seamless digital interactions, and the LINQ platform is expected to steer the company’s operations in that direction.
Shares of PPG have grown 29.2% over a year, outperforming the industry’s 25.4% rise.
Image Source: Zacks Investment Research
The company expects a sequential rise in aggregate input and logistics costs in the third quarter. It will continue to prioritize further selling price increases, which are 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 for the third quarter. Corporate expenses are expected to increase to $60 million in the third quarter from $52 million in the second quarter. Net interest expenses are expected between $28 million and $30 million. The company also foresees adjusted earnings for the full year in the band of $7.4-$7.6 per share.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Ranks & Stocks to Consider
Currently, PPG has a Zacks Rank #4 (Sell).
Better-ranked stocks in the basic materials space include Avient Corporation (AVNT - Free Report) , BASF SE (BASFY - Free Report) and The Chemours Company (CC - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Avient has a projected earnings growth rate of 75.1% for the current year. The company’s shares have surged 86.8% in a year.
BASF has a projected earnings growth rate of 96.7% for the current year. The company’s shares have rallied 26.2% in a year.
Chemours has a projected earnings growth rate of roughly 86.4% for the current year. The company’s shares have grown 66.6% in a year.