PPG Industries Inc. (PPG - Analyst Report) declared that it has launched Spectracron SPM Series DTM (direct-to-metal) monocoat, which is a one-component coating that helps prevent corrosion on heavy-duty, transportation, agricultural and construction equipment.
Spectracron SPM coating is designed for direct application to pretreated metal substrates while providing corrosion resistance that is comparable to conventional two-component primer-topcoat systems and thus it displays a considerable technical advance.
Spectracron SPM coating protects metal with a single-component coating which is beneficial for original equipment manufacturers (OEMs).It also enables help OEMs to cut production space requirements, inventories and labor costs while improving throughput by doing away with the need to apply primer during the coating process.
Flash times and cure temperatures for Spectracron SPM coating are similar to those commonly associated with current urethane topcoats, removing concerns about fast wet-on-wet application times and enabling the coating to work without constraints on existing paint lines.
PPG Industries’ shares closed roughly 0.4% lower at $91.94 on Oct 12.
Recently, PPG Industries provided its third-quarter 2016 outlook. The company said that it anticipates posting a loss from continuing operations of between 74 cents and 77 cents per share on a reported basis in third-quarter 2016 due to pension settlement charges of $2.31 per share. The company recorded earnings from continuing operations of $1.52 per share on a reported basis a year ago.
On an adjusted basis, the coatings giant anticipates earnings from continuing operations in the band of $1.54 to $1.57 per share for the third quarter, compared with $1.54 per share a year ago. Additionally, the company sees net sales of roughly $3.8 billion for the third quarter. PPG Industries will discuss third-quarter results in detail on Oct 20.
PPG Industries currently has a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked companies in the chemical space include The Chemours Company (CC - Snapshot Report) and Cabot Corp. (CBT - Snapshot Report) and The Dow Chemical Company (DOW - Analyst Report) .
Chemours has an expected earnings growth of around 20.3% for the current year. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cabot, currently carries a Zacks Rank #2 (Buy) and has an expected earnings growth of roughly 12.1% for the current year.
Dow has an expected earnings growth of around 2.9% for the current year. The stock also carries a Zacks Rank #2.
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