Welcome to our dedicated page for PPG Industries news (Ticker: PPG), a resource for investors and traders seeking the latest updates and insights on PPG Industries stock.
PPG Industries, Inc. (symbol: PPG) is a global leader in the production of high-quality coatings and specialty materials. Established in 1883 and headquartered in Pittsburgh, PPG operates in over 70 countries worldwide. The company is committed to delivering innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings.
PPG’s operations span across various markets, including automotive, aerospace, construction, and industrial. The company is recognized as the world’s largest producer of coatings after acquiring assets from Akzo Nobel. Additionally, notable acquisitions like Comex demonstrate PPG’s focus on expanding into emerging regions.
Renowned for its leadership in innovation, sustainability, and color, PPG constantly seeks to add value to its customer base, providing advanced products that enhance more surfaces than any other company. The company’s financial strength is evident, with a reported net sales of $15.4 billion in 2014, and its shares being traded on the New York Stock Exchange under the symbol PPG.
Recent Achievements and Current Projects
- PPG has recently made significant strides in sustainable product development, ensuring that its offerings meet stringent environmental standards.
- The company is involved in various projects aimed at enhancing product durability and aesthetic appeal, tailored to the specific needs of different markets.
- Partnerships with leading automotive and aerospace companies have solidified PPG’s position as a trusted supplier of advanced coatings and materials.
By consistently innovating and adapting to market demands, PPG Industries, Inc. continues to reinforce its vision of being the world's leading coatings company.
PPG reported fourth quarter 2022 net sales of $4.2 billion, up 5% in constant currencies. Earnings per diluted share from continuing operations were $1.01, with adjusted EPS at $1.22. The company achieved a record full-year 2022 sales of approximately $17.7 billion. However, net income for the fourth quarter decreased by 11% to $238 million, reflecting a higher effective tax rate which reduced EPS by $0.25 year-over-year. While the company faced challenges, including a 5% decline in sales volume due to pandemic impacts in China, it anticipates a recovery with several positive catalysts in 2023.
The Board of Directors of PPG has declared a quarterly dividend of 62 cents per share, payable on March 10 for shareholders of record as of February 17. This dividend marks the company's 498th consecutive payment and follows a tradition of increasing annual dividends for 51 consecutive years. PPG, headquartered in Pittsburgh, reported net sales of $16.8 billion in 2021, serving various markets including construction and transportation.
PPG (NYSE: PPG) has appointed Pedro Serret Salvat as president and general counsel for PPG EMEA, effective immediately. He takes over from Ram Vadlamannati, who will lead a new operations organization while overseeing the EMEA region. Serret Salvat has been with PPG since 2011 and has extensive experience in legal affairs and leadership. His role will focus on maximizing growth through operational alignment across Europe, the Middle East, and Africa.
PPG (NYSE:PPG) has announced leadership changes effective immediately, aimed at enhancing its global operations. Ram Vadlamannati will lead a newly established operations organization, overseeing various functions including supply chain and manufacturing, while maintaining leadership in the EMEA region. Amy Ericson steps into the role of senior vice president for protective and marine coatings and will oversee the Latin America region. Kevin Braun will manage global automotive and specialty coatings, and Chancey Hagerty will continue as vice president for global automotive refinish while overseeing the Asia Pacific region.
PPG (NYSE: PPG) announced the details of its fourth-quarter 2022 earnings release, scheduled for January 19, after U.S. stock markets close. A teleconference call will follow on January 20 at 8 a.m. ET, featuring PPG’s executives including Tim Knavish and Vincent J. Morales. Dial-in registration is available online, and a live webcast can be accessed via the PPG Investor Center. Replay options for the call will be available until February 3, 2023.
PPG (NYSE: PPG) announced the completion of a COLORFUL COMMUNITIES® project in Des Plaines, Illinois, revitalizing facilities for the nonprofit Clean Up – Give Back. The initiative involved 30 volunteers from PPG and Ardagh Metal Packaging, who enhanced the organization's new headquarters with fresh paint and murals. Clean Up – Give Back has nearly 1,400 volunteers who contributed over 9,500 service hours in 2021, collecting more than 41,000 pounds of trash. PPG's Colorful Communities program supports such projects globally, having completed over 400 initiatives since 2015.
PPG (NYSE: PPG) announced its GLIDDEN MAX FLEX™ spray paint and primer received the Best of What’s New Award 2022 from Popular Science in the home category. This product features a revolutionary lacquer-based formula allowing for ultra-durable coating on various surfaces with a quick five-minute dry time. The spray paint effectively eliminates common issues like dripping and long drying times. Currently available at select Home Depot locations, Glidden Max Flex is a collaborative innovation between two PPG business units, showcasing the company's commitment to delivering high-quality products.
PPG has announced that Michael McGarry, chairman and CEO, received the Industrialist of the Year Award from the Western Pennsylvania Chapter of the Society of Industrial and Office Realtors. This award highlights McGarry's positive contributions to the industry and community. McGarry has led PPG since 2015, overseeing significant company initiatives including the Colorful Communities program, which has completed over 400 global projects since its launch in 2005. PPG currently operates in 75 countries with net sales of
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