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PPG Unveils Low-Temperature E-Coats for Automotive Market
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PPG Industries Inc. (PPG - Free Report) recently introduced PPG ENVIRO-PRIME EPIC 200R coatings, an array of electrocoat (e-coat) solutions for automotive manufacturers that cure at lower temperatures than rival technologies. Customers benefit from the product's sustainability features, such as lower energy consumption and CO2 emissions at production sites.
Higher oven temperatures are often required for conventional e-coats to cure over thicker substrates and complex assemblies, resulting in uneven appearance and color variances. The PPG Enviro-Prime EPIC 200R platform ensures well-cured films at lower baking temperatures, resulting in a more sustainable solution that does not compromise manufacturing throughput or coating performance.
PPG is focusing on partnering with its customers to create industry-leading innovations and digital solutions that improve productivity and sustainability. PPG's revenues from sustainably advantaged products accounted for 39% of overall sales in 2022, with the firm aiming to boost that to 50% by 2030 under its new environmental, social and governance standards.
Shares of PPG have gained 25.6% over the past year compared with a 7.4% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter call, noted that it expects 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, PPG expects sales volumes in second-quarter 2023 to be flat with the 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.
The Zacks Consensus Estimate for Koppers’ current-year earnings is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of 13.64%, on average. KOP has gained 31.7% in a year.
The Zacks Consensus Estimate for Gold Fields’ current-year earnings has been revised 23.5% upward in the past 60 days. The consensus estimate for current-year earnings for GFI is currently pegged at $1.05, indicating year-over-year growth of 8.3%. The company’s shares have gained 63.5% in the past year.
The Zacks Consensus Estimate for Linde’s current-year earnings has been revised 3.8% upward in the past 60 days. LIN beat the Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9%, on average. The company’s shares have gained 20.1% in the past year.
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PPG Unveils Low-Temperature E-Coats for Automotive Market
PPG Industries Inc. (PPG - Free Report) recently introduced PPG ENVIRO-PRIME EPIC 200R coatings, an array of electrocoat (e-coat) solutions for automotive manufacturers that cure at lower temperatures than rival technologies. Customers benefit from the product's sustainability features, such as lower energy consumption and CO2 emissions at production sites.
Higher oven temperatures are often required for conventional e-coats to cure over thicker substrates and complex assemblies, resulting in uneven appearance and color variances. The PPG Enviro-Prime EPIC 200R platform ensures well-cured films at lower baking temperatures, resulting in a more sustainable solution that does not compromise manufacturing throughput or coating performance.
PPG is focusing on partnering with its customers to create industry-leading innovations and digital solutions that improve productivity and sustainability. PPG's revenues from sustainably advantaged products accounted for 39% of overall sales in 2022, with the firm aiming to boost that to 50% by 2030 under its new environmental, social and governance standards.
Shares of PPG have gained 25.6% over the past year compared with a 7.4% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter call, noted that it expects 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, PPG expects sales volumes in second-quarter 2023 to be flat with the 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 Koppers Holdings Inc. (KOP - Free Report) , Gold Fields Limited (GFI - Free Report) and Linde plc (LIN - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Koppers’ current-year earnings is currently pegged at $4.40, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of 13.64%, on average. KOP has gained 31.7% in a year.
The Zacks Consensus Estimate for Gold Fields’ current-year earnings has been revised 23.5% upward in the past 60 days. The consensus estimate for current-year earnings for GFI is currently pegged at $1.05, indicating year-over-year growth of 8.3%. The company’s shares have gained 63.5% in the past year.
The Zacks Consensus Estimate for Linde’s current-year earnings has been revised 3.8% upward in the past 60 days. LIN beat the Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.9%, on average. The company’s shares have gained 20.1% in the past year.