PPG Industries (PPG) Launches Envirocron Primeron Primer Series
PPG Industries, Inc. PPG recently launched PPG Envirocron Primeron primer powder portfolio, which is designed to protect metal substrates like steel, hot-dip galvanized steel, metalized steel and aluminum from high corrosion.
The company stated that protective primers are the first line of defense that shields metal surfaces against corrosion, which is a significant challenge faced in the metal coatings industry. Using this newly launched primer in a multi-layer form will extend a product’s lifespan while conserving its structural integrity.
PPG Envirocron Primeron primer has been approved by Qualisteelcoat, which is an international quality label for coated steel, after being tested according to corrosivity categories. The new primer series has a wide range of requirements depending on the end use, operating environment and the metal substrate.
PPG Industries remains focused on providing value to its customers through consistent and differentiated innovation and sustainability. PPG Envirocron Primeron primer has expanded its offering of designed solutions that provide durable protection against corrosion.
Shares of PPG have lost 4% compared with a 10.1% fall recorded by its industry.
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The company, on its fourth-quarter call, said that it expects soft economic activity in Europe and China in the first quarter of 2023. However, the company will prioritize supporting customers by providing superior service and products, optimizing inventory levels and executing several cost savings initiatives. It also expects a rebound in demand for its technology-advantaged aerospace products, moderate raw material costs and stable coatings demand in Europe from the second quarter. It also anticipates a strong economic recovery in China to boost earnings.
PPG projects adjusted EPS in the band of $1.10-$1.20 for the first quarter, barring amortization expense of 13 cents and costs related to previously approved and communicated business of 2 cents. It also sees reported EPS for the first quarter between 95 cents and $1.05. The company expects aggregate sales volumes for the quarter to be down a mid-single-digit percentage on a year-over-year basis.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are ATI Inc. ATI, Olympic Steel, Inc. ZEUS and Cal-Maine Foods, Inc. CALM. ATI currently carries a Zacks Rank #2 (Buy), while ZEUS and CALM sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ATI’s shares have gained 38.5% in the past year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 1.9% upward in the past 60 days. The company has an earnings growth rate of 9% for the current year.
ATI topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.4% on average.
Olympic Steel’s shares have gained 40.4% in the past year. The Zacks Consensus Estimate for ZEUS’s current-year earnings has been revised 61% upward in the past 60 days. ZEUS topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
Cal-Maine’s shares have gained 10% in the past year. The company has an earnings growth rate of 515.8% for the current year. The Zacks Consensus Estimate for CALM’s current-year earnings has been revised 19% upward in the past 60 days.
CALM topped Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 15.3% on average.
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