We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPG Industries (PPG) & Entrotech Unveil Paint Films Solutions
Read MoreHide Full Article
PPG Industries, Inc. (PPG - Free Report) recently announced that PPG Advanced Surface Technologies, a new joint venture set up with Entrotech, Inc., a producer of technology-driven film solutions, will supply paint and clear film solutions for automotive and industrial customers. PPG owns the majority of this joint venture. Financial and ownership information was not provided.
This alliance will position PPG's paint film product portfolio for expedited commercialization, providing customers with novel solutions with excellent performance and considerable sustainability benefits. This collaboration will aid in rapid worldwide expansion and complement PPG's portfolio.
PPG acquired its paint films capabilities in 2021 with the acquisition of Worwag, a coatings supplier based in Germany that supplies film materials for a wide range of automotive parts and panels. The joint venture will consist of PPG Worwag film assets and Entrotech's automotive films division.
Entrotech's automotive films range includes automotive clear protection films and the Aero Sustainable Material Technology range of paint films. The company's proprietary and patent-pending technologies were created in 2007 to fulfill the requirements of motorsports and other applications.
Shares of PPG have gained 5.7% over the past year against a 4.2% decline of its industry.
Image Source: Zacks Investment Research
PPG projects adjusted earnings of $6.95-$7.25 per share for 2023. The prediction excludes amortization expense, non-cash pension settlement charge, benefit from insurance recovery and costs related to earlier approved and communicated business restructuring.
Factoring in current global economic activities, geopolitical issues in Europe and higher interest rates in most developed countries, the company expects sales volumes for second-quarter 2023 to be flat with thae potential for slight improvement or decrease of a low single-digit percentage year over year. Adjusted earnings for the second quarter are projected in the band of $2.05-$2.15.
Alamos currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for current-year earnings for AGI is currently pegged at 46 cents, indicating year-over-year growth of 64.3%. Alamos beat Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 16.7%, on average. AGI has gained around 63.8% in a year.
Koppers currently carries a Zacks Rank #2. The Zacks Consensus Estimate for current-year earnings for KOP is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 13.64%, on average. KOP has gained around 23.1% in a year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days. Linde beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9% on average. LIN’s shares have gained roughly 12.4% in the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
PPG Industries (PPG) & Entrotech Unveil Paint Films Solutions
PPG Industries, Inc. (PPG - Free Report) recently announced that PPG Advanced Surface Technologies, a new joint venture set up with Entrotech, Inc., a producer of technology-driven film solutions, will supply paint and clear film solutions for automotive and industrial customers. PPG owns the majority of this joint venture. Financial and ownership information was not provided.
This alliance will position PPG's paint film product portfolio for expedited commercialization, providing customers with novel solutions with excellent performance and considerable sustainability benefits. This collaboration will aid in rapid worldwide expansion and complement PPG's portfolio.
PPG acquired its paint films capabilities in 2021 with the acquisition of Worwag, a coatings supplier based in Germany that supplies film materials for a wide range of automotive parts and panels. The joint venture will consist of PPG Worwag film assets and Entrotech's automotive films division.
Entrotech's automotive films range includes automotive clear protection films and the Aero Sustainable Material Technology range of paint films. The company's proprietary and patent-pending technologies were created in 2007 to fulfill the requirements of motorsports and other applications.
Shares of PPG have gained 5.7% over the past year against a 4.2% decline of its industry.
Image Source: Zacks Investment Research
PPG projects adjusted earnings of $6.95-$7.25 per share for 2023. The prediction excludes amortization expense, non-cash pension settlement charge, benefit from insurance recovery and costs related to earlier approved and communicated business restructuring.
Factoring in current global economic activities, geopolitical issues in Europe and higher interest rates in most developed countries, the company expects sales volumes for second-quarter 2023 to be flat with thae potential for slight improvement or decrease of a low single-digit percentage year over year. Adjusted earnings for the second quarter are projected in the band of $2.05-$2.15.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the basic materials space include Alamos Gold Inc. (AGI - Free Report) Koppers Holdings Inc. (KOP - Free Report) , and Linde plc (LIN - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Alamos currently carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for current-year earnings for AGI is currently pegged at 46 cents, indicating year-over-year growth of 64.3%. Alamos beat Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 16.7%, on average. AGI has gained around 63.8% in a year.
Koppers currently carries a Zacks Rank #2. The Zacks Consensus Estimate for current-year earnings for KOP is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 13.64%, on average. KOP has gained around 23.1% in a year.
Linde currently carries a Zacks Rank #2. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 3.8% upward in the past 60 days. Linde beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9% on average. LIN’s shares have gained roughly 12.4% in the past year.