PPG Industries Inc. (PPG)
PPG Industries: Updating 'Buy' For 2025
PPG Industries has underperformed the S&P500 by nearly 50%, but its fundamentals remain solid, with expected annual EPS growth over 5% and record-level adjusted EPS in 3Q24. Despite challenges in automotive and architectural coatings, PPG's aerospace segment shows strong demand, and the company is streamlining operations and buying back shares. PPG trades at under 15x P/E, significantly below its historical average of 20-22x P/E, suggesting potential annualized returns of 14-15% and a price target of $160/share.
PPG price target lowered to $145 from $152 at Evercore ISI
Evercore ISI lowered the firm's price target on PPG to $145 from $152 and keeps an In Line rating on the shares as a new analyst took over coverage of the stock and 10 other chemical names. Dissonance between sputtering industrial demand into year-end and prospects for a "less bad" 2025 has "muddled the forward outlook for chemicals investors" and the firm's sense is further EBITDA and EPS cuts coming to Q1 and FY25 "are needed to clear the deck," the analyst says. However, Evercore suspects the stocks "move sharply higher with signs of improving demand, so begin to position accordingly," the analyst added.
PPG Wraps Up On-site Solar Installation at Caivano Facility
Caivano is a prime example of how PPG ensures its facilities are more sustainable and operationally effective.
PPG Wraps Up Sale of Architectural Coatings U.S. & Canada Business
The transaction of PPG's silicas products business further optimizes its portfolio by improving its organic growth and financial return profiles.
PPG Receives 50th Order for Electrostatic Marine Coating Application
PPG, with decades of experience in the aerospace and automotive industries, brought electrostatic coatings to the shipping business just over a year ago.
PPG Wraps Up Sale of Silicas Products Business to QEMETICA
The divestment includes PPG's precipitated silica manufacturing plants in Lake Charles, LA, and Delfzijl, the Netherlands.
PPG Partners SARO/Siccardi, Boosts Powder Coatings Presence in Italy
Access to PPG warehouses, laboratories and manufacturing facilities in Italy will enhance SARO/Siccardi's customer service and response times.
Why Is PPG Industries (PPG) Down 6% Since Last Earnings Report?
PPG Industries (PPG) reported earnings 30 days ago. What's next for the stock?
PPG Industries: Still Not Painting A Pretty Picture
PPG Industries faces challenges despite a rich history, with recent divestment proceeds looking soft and modest earnings growth projections. The company reported a 3% sales increase in 2023, but long-term execution issues and market share losses remain concerns. Recent divestments, including the architectural coatings business, fetched disappointing valuations, raising questions about strategic alternatives.
PPG Industries, Inc. (PPG) Q3 2024 Earnings Call Transcript
PPG Industries, Inc. (NYSE:PPG ) Q3 2024 Earnings Conference Call October 17, 2024 8:00 AM ET Company Participants Alejandro Lopez - Director of Investor Relations Timothy Knavish - Chairman and Chief Executive Officer Vincent Morales - Senior Vice President and Chief Financial Officer Conference Call Participants John Roberts - Mizuho Michael Sison - Wells Fargo Michael Leithead - Barclays Ghansham Panjabi - Baird Duffy Fischer - Goldman Sachs Patrick Cunningham - Citigroup Vincent Andrews - Morgan Stanley Josh Spector - UBS David Begleiter - Deutsche Bank Jeff Zekauskas - JPMorgan Stephen Byrne - Bank of America Merrill Lynch Kevin McCarthy - VRP John McNulty - BMO Laurent Favre - BNP Paribas Mike Harrison - Seaport Research Partners Aleksey Yefremov - KeyCorp Arun Viswanathan - RBC Christopher Parkinson - Wolfe Research Daniel Rizzo - Jefferies Aron Ceccarelli - Berenberg Jaideep Pandya - On Field Investment Research Operator Good morning. My name is Elliot.
PPG to lay off 1,800 employees in US, Europe in cost-cut push
Paints and coatings maker PPG Industries said on Thursday it would lay off 1,800 employees in the United States and Europe and close various facilities as part of its cost-reduction program.
PPG Industries' Earnings and Sales Miss Estimates in Q3
The decline in PPG's sales in Q3 is due to soft global industrial production, which hurt demand in the Industrial Coatings segment.
