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 has launched GLIDDEN MAX FLEX™, its first spray paint + primer, targeting DIY enthusiasts looking to refresh their projects this spring. This innovative product, featuring a quick five-minute dry time and a unique fan spray pattern, minimizes drips and ensures smooth coverage. Available in 18 surface colors and 6 fabric colors, it's designed for various materials, including wood and fabric. A recent survey indicates 65% of Americans plan DIY projects in the next year, with 85% considering the product's features appealing. PPG reported $16.8 billion in net sales in 2021.
PPG reported record first-quarter net sales of $4.3 billion, an 11% increase from the previous year, driven by higher selling prices. However, reported earnings per diluted share (EPS) fell to $0.08, a 95% decline year-over-year, with adjusted EPS at $1.37. Raw material costs surged by 25% year-over-year, alongside $290 million in charges related to operations in Russia. Despite supply chain disruptions, the company experienced organic sales growth of about 7%.
PPG (NYSE: PPG) reported record sales of $16.8 billion for 2021, a 21% increase from the previous year. The growth was driven by a 10% organic growth and strategic acquisitions, contributing to adjusted earnings per diluted share of $6.77, up 11% year-over-year. Cash flow from operations reached $1.6 billion, with $2.3 billion spent on acquisitions and share repurchases. Despite challenges, PPG extended its annual dividend payments for 50 consecutive years. Shareholders re-elected directors and approved executive compensation proposals while a resolution to amend Articles of Incorporation was deferred to a later meeting.
PPG (NYSE:PPG) has declared a quarterly dividend of 59 cents per share, scheduled for payment on June 10 to shareholders of record on May 10. This marks PPG's 495th consecutive dividend payment, emphasizing its long-standing commitment to returning value to shareholders. The company has raised its annual dividend payment for 50 consecutive years and has maintained uninterrupted annual dividends since 1899, showcasing its financial strength and stability.
PPG has renewed its sponsorship of the Tasca Racing team for the 2022 NHRA season, featuring the FORD SHELBY MUSTANG Nitro Funny Car. The car will display PPG's livery at races in Epping, New Hampshire, and Mohnton, Pennsylvania. Bob Tasca III will compete in 22 events this season, continuing a partnership that has lasted over 25 years. PPG's products are used in Tasca's collision centers, highlighting a strong business relationship. PPG reported net sales of $16.8 billion in 2021 and operates in more than 75 countries.
PPG (NYSE: PPG) celebrated the completion of its 1,000th installation of the PPG MOONWALK™ automated refinish paint mixing system at Group Perez Rumbao's facility in Vigo, Spain. This innovative system enhances efficiency by saving labor, reducing waste, and improving paint quality. Key features include a barcode scanner, label printer, and a highly precise dispensing scale. The PPG MOONWALK™ has also received multiple awards, underscoring its significance in the automotive refinish market.
PPG has completed the acquisition of the powder coatings manufacturing business from Arsonsisi, an industrial coatings company based in Milan, Italy. The acquisition includes a powder manufacturing plant in Verbania, Italy, enhancing PPG's capabilities in the EMEA region. The Arsonsisi powder business generated approximately $15 million in sales in 2021. This aligns with PPG's strategy to invest in sustainable innovations, specifically expanding their powder coatings segment, which is known for low VOC emissions and high durability.
PPG (NYSE: PPG) has announced the divestiture of its business activities in Senegal, Ivory Coast, Cameroon, Gabon, and Algeria to Océinde, a Réunion-based industrial group. This agreement includes a licensing and distribution contract for the SEIGNEURIE® paint range. Océinde will take over the employees in these regions and strengthen its relationship with PPG, which has supplied specialty materials to Océinde. Both companies aim to enhance service delivery in the African market, benefiting from a long-term collaboration.
PPG (NYSE: PPG) has announced the schedule for its first quarter 2022 earnings release and teleconference call. The earnings release will be issued on April 21, after U.S. stock market close. A teleconference is set for April 22 at 8 a.m. ET, featuring key company executives, including CEO Michael H. McGarry. Participants can register for the call online, and a live webcast will be available on the PPG Investor Center. Replay options will be accessible both via telephone and online after the event.
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