PPG Industries, Inc. (PPG - Free Report) introduced Envirocron Extreme Protection Edge coatings, which uses advanced powder coatings technology for edge corrosion protection in one coat.
The technology is specially formulated to conceal sharp edges created during metal fabrication. Notably, it provides superior coverage compared with standard one-coat and two-coat powder systems. The product offers a competitive advantage in protecting vulnerable areas of metal that are exposed to corrosive conditions.
Moreover, the fully reclaimable direct-to-metal coatings delivers substantial savings in terms of labor, material, utilities and time. It does not require primer and applicators need not modify the existing coatings lines or add equipment for using the new solution. In the long term, the coatings have the potential to minimize warranty claims and boost resale value by extending the product lifecycle.
PPG Industries’ adjusted earnings of $1.15 per share in fourth-quarter 2018 beat the Zacks Consensus Estimate of $1.09.
The company expects cost inflation, unfavorable foreign currency translation and lower sales volume to impact performance in the first half of 2019. Based on these factors, PPG Industries projects first-quarter 2019 earnings per share (EPS) in the range of $1.18-$1.23.
The company envisions sales growth of 3-5% at constant currency for 2019. It also expects adjusted EPS growth of 7-10%. Moreover, the company expects to generate at least $70 million in cost savings in 2019.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the basic materials space include Kirkland Lake Gold Ltd. (KL - Free Report) , Ingevity Corporation (NGVT - Free Report) and Materion Corporation (MTRN - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kirkland has an expected earnings growth rate of 8.8% for 2019. The company’s shares have surged 115.7% in the past year.
Ingevity has an expected earnings growth rate of 17.9% for 2019. The company’s shares have improved 51.2% in a year’s time.
Materion has an expected earnings growth rate of 12.6% for 2019. Its shares have gained 17.7% in a year’s time.
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