PPG's SEM Products Unveil Gladiator XC Matte Extreme Coating
PPG Industries Inc. PPG recently launched Gladiator XC Matte Extreme coating, a premium, low-gloss urethane protective coating that can be used in industries and applications such as automotive, light industrial, marine, RVs, emergency vehicles and recreational equipment through its SEM Products business.
Gladiator XC coating is robust and flexible, with a textured, low-gloss matte surface. It has a long shelf life, a short curing time, exceptional fade resistance and UV stability, and it complies with all VOC laws in the United States. It has also passed the ASMI International Standards Organization's primary test for determining a coating's resistance to cracking after being applied and cured on sheet metal or other flexible materials.
Gladiator XC Matte Extreme coating can be used on truck beds, trailers and other refinish items, as well as in other industries and applications.
It combines the benefits of a superior product at a reasonable price and is simple to use, making it ideal for a wide range of aftermarket applications. Gladiator XC is easy to apply using a spray gun, brush, or roller. It is available in bulk and kit sizes that are tintable in both black and clear.
Shares of PPG have gained 20.8% over the past year compared with a 20.4% rise of its industry.
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The company, on its second-quarter call, said that it 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 & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Koppers Holdings Inc. KOP, Carpenter Technology Corporation CRS and The Andersons Inc. ANDE.
Koppers has a projected earnings growth rate of 7.5% for the current year. It currently carries a Zacks Rank #2 (Buy). Koppers has a trailing four-quarter earnings surprise of roughly 21.7%, on average. The stock is up around 80% in a year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Carpenter Technology currently carries a Zacks Rank #2. The stock has rallied roughly 105.3% 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.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 58.9% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
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