PPG Industries, Inc. ( PPG Quick Quote 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. Image Source: Zacks Investment Research
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 Quick Quote NTR - Free Report) , Albemarle Corporation ( ALB Quick Quote ALB - Free Report) and Cabot Corporation ( CBT Quick Quote 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.