The transaction of PPG's silicas products business further optimizes its portfolio by improving its organic growth and financial return profiles.
PPG, with decades of experience in the aerospace and automotive industries, brought electrostatic coatings to the shipping business just over a year ago.
The divestment includes PPG's precipitated silica manufacturing plants in Lake Charles, LA, and Delfzijl, the Netherlands.
Access to PPG warehouses, laboratories and manufacturing facilities in Italy will enhance SARO/Siccardi's customer service and response times.
PPG Industries (PPG) reported earnings 30 days ago. What's next for the stock?
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. (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.
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.
The decline in PPG's sales in Q3 is due to soft global industrial production, which hurt demand in the Industrial Coatings segment.
Paints and coatings maker PPG Industries missed Wall Street estimates for third-quarter profit on Wednesday, hurt by lower sales at its industrial coatings unit.
Although the revenue and EPS for PPG Industries (PPG) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
PPG Industries (PPG) came out with quarterly earnings of $2.13 per share, missing the Zacks Consensus Estimate of $2.15 per share. This compares to earnings of $2.07 per share a year ago.