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The company surpassed the Zacks Consensus Estimate for earnings in three of the last four quarters while missing it once. It delivered a trailing four-quarter earnings surprise of around 8% on average. It pulled off an earnings surprise of 7% in the last reported quarter.
The stock has gained 8.7% over the past year against a 6.6% fall recorded by its industry.
Image Source: Zacks Investment Research
What Do the Estimates Say?
The Zacks Consensus Estimate for sales for the to-be-reported quarter is currently pegged at $4,489 million, which implies a rise of 4.2% from the year-ago reported number.
The Zacks Consensus Estimate for net sales for PPG’s Industrial Coatings segment is pegged at $1,794 million, which indicates a year-over-year rise of 3.2%. Also, the consensus estimate for net sales for PPG’s Performance Coatings segment stands at $2,604 million, which suggests an increase of 1.3%.
Factors to Note
In the first quarter, PPG Industries is likely to have gained from higher sales volumes driven by its automotive OEM and aerospace coatings businesses. Increased sales volumes are expected to have supported its top line.
PPG Industries’ actions to raise selling prices to counter inflation are expected to have contributed to its margins in the first quarter. Restructuring cost savings might also have supported its margins.
Additionally, PPG is anticipated to have witnessed solid demand in its PPG Comex business and its U.S. architectural coatings business, which is likely to have further boosted its sales volume in the quarter to be reported. Furthermore, the company might have witnessed improved volumes in China on reduced impacts of the pandemic-related disruptions in the first quarter.
Our proven model does not conclusively predict an earnings beat for PPG Industries this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings Beat: Earnings ESP for PPG Industries is 0.00%. The Zacks Consensus Estimate for earnings for the first quarter is currently pegged at $1.55. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently carries a Zacks Rank #1.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider, as our model shows these have the right combination of elements to post earnings beat this quarter:
Agnico Eagle Mines Limited (AEM - Free Report) , which is scheduled to release earnings on Apr 27, has an Earnings ESP of +18.47% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AEM’s earnings for the first quarter is currently pegged at 39 cents.
Axalta Coating Systems Ltd. (AXTA - Free Report) , which is scheduled to release its earnings on May 2, has an Earnings ESP of +4.42%.
The consensus estimate for AXTA’s earnings for the quarter is currently pegged at 30 cents. It currently carries a Zacks Rank #2.
Bunge Limited (BG - Free Report) , which is scheduled to release earnings on May 3, has an Earnings ESP of +0.73% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for earnings for BG for the first quarter is pegged at $3.41.
Image: Bigstock
PPG Industries (PPG) to Post Q1 Earnings: What's in Store?
PPG Industries, Inc. (PPG - Free Report) is scheduled to report first-quarter 2023 results after the closing bell on Apr 20.
The company surpassed the Zacks Consensus Estimate for earnings in three of the last four quarters while missing it once. It delivered a trailing four-quarter earnings surprise of around 8% on average. It pulled off an earnings surprise of 7% in the last reported quarter.
The stock has gained 8.7% over the past year against a 6.6% fall recorded by its industry.
Image Source: Zacks Investment Research
What Do the Estimates Say?
The Zacks Consensus Estimate for sales for the to-be-reported quarter is currently pegged at $4,489 million, which implies a rise of 4.2% from the year-ago reported number.
The Zacks Consensus Estimate for net sales for PPG’s Industrial Coatings segment is pegged at $1,794 million, which indicates a year-over-year rise of 3.2%. Also, the consensus estimate for net sales for PPG’s Performance Coatings segment stands at $2,604 million, which suggests an increase of 1.3%.
Factors to Note
In the first quarter, PPG Industries is likely to have gained from higher sales volumes driven by its automotive OEM and aerospace coatings businesses. Increased sales volumes are expected to have supported its top line.
PPG Industries’ actions to raise selling prices to counter inflation are expected to have contributed to its margins in the first quarter. Restructuring cost savings might also have supported its margins.
Additionally, PPG is anticipated to have witnessed solid demand in its PPG Comex business and its U.S. architectural coatings business, which is likely to have further boosted its sales volume in the quarter to be reported. Furthermore, the company might have witnessed improved volumes in China on reduced impacts of the pandemic-related disruptions in the first quarter.
PPG Industries, Inc. Price and EPS Surprise
PPG Industries, Inc. price-eps-surprise | PPG Industries, Inc. Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for PPG Industries this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings Beat: Earnings ESP for PPG Industries is 0.00%. The Zacks Consensus Estimate for earnings for the first quarter is currently pegged at $1.55. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently carries a Zacks Rank #1.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider, as our model shows these have the right combination of elements to post earnings beat this quarter:
Agnico Eagle Mines Limited (AEM - Free Report) , which is scheduled to release earnings on Apr 27, has an Earnings ESP of +18.47% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AEM’s earnings for the first quarter is currently pegged at 39 cents.
Axalta Coating Systems Ltd. (AXTA - Free Report) , which is scheduled to release its earnings on May 2, has an Earnings ESP of +4.42%.
The consensus estimate for AXTA’s earnings for the quarter is currently pegged at 30 cents. It currently carries a Zacks Rank #2.
Bunge Limited (BG - Free Report) , which is scheduled to release earnings on May 3, has an Earnings ESP of +0.73% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for earnings for BG for the first quarter is pegged at $3.41.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.