PPG Announces Limitless as Color of the Year for 2024
PPG Industries, Inc. PPG has selected Limitless as its 2024 Color of the Year. This contemporary honey beige tint provides limitless design and style options for residential and commercial interiors and exteriors, consumer products, and industrial applications. Limitless is subdued, refined and relaxing, reflecting a movement in consumer preferences toward warmer, less intense colors for everything from automobiles to architectural features.
Along with this distinctive shade, PPG's global color specialists selected a color palette of more than 40 complementary hues split into three distinct color palettes. The first has gentle, grounded colors; the second has earthy greens, flowers and energizing blues; and the third has a lovely mix of vibrant and dramatic colors.
When mixed with colors from these palettes, Limitless appears extremely warm and soothing yet simultaneously looks highly curated and elegant. Limitless uses an array of warm and cool tones, including shaded whites, delicate pastels, earthy neutrals, softened jewel tones and bold, bright hues. The color also fits trendy black and brass metal tones, as well as silver and bronze finishes.
PPG's color forecasting is a detailed procedure that covers a variety of end-use segments and geographical areas. The PPG color styling team examined the social, cultural and political variables affecting global trends to develop the 2024 collection.
Shares of PPG have gained 8.1% over the past year compared with 19.6% rise of its industry.
Image Source: Zacks Investment Research
The company expects adjusted EPS for the third quarter in the range of $1.85-$1.95. For the full year, the company raised its adjusted EPS projection to the range of $7.28-$7.48. These projections consider various factors such as current global economic activity, soft global industrial production, continued economic uncertainty associated with geopolitical issues in Europe and higher interest rates in most developed countries.
The company expects performance coatings demand in Europe to stabilize at lower levels than the pre-conflict period in Ukraine while raw material and transportation normalize closer to pre-pandemic levels.
For Industrial coatings, PPG anticipates a low single-digit percentage decline in organic sales due to lower global industrial production, except for modest growth in China. Other industrial end-use markets are expected to be soft. However, selling price increases are expected to continue.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Other Key Picks
PPG currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 56.3% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 28.2% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.
Veritiv currently carries a Zacks Rank #2. The stock has rallied roughly 22.8% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PPG Industries, Inc. (PPG) : Free Stock Analysis Report
Carpenter Technology Corporation (CRS) : Free Stock Analysis Report
Denison Mine Corp (DNN) : Free Stock Analysis Report
Veritiv Corporation (VRTV) : Free Stock Analysis Report
