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 announced a definitive agreement to sell its architectural coatings business in the U.S. and Canada to American Industrial Partners (AIP) for $550 million. The transaction is expected to close in late 2024 or early 2025. Additionally, PPG revealed a comprehensive cost reduction program aimed at achieving annualized pre-tax savings of $175 million, including $60 million in 2025.
The program focuses on reducing structural costs primarily in Europe and other global businesses, along with corporate costs following recent business divestitures. It will impact about 1,800 positions, mainly in Europe and the U.S. PPG will record a pre-tax charge of $250 million in Q4 2024, with additional charges expected over the next few years.
The U.S. and Canada architectural coatings business represented approximately $2 billion of PPG's 2023 total net sales, with low-single-digit EBITDA margin. PPG's architectural coatings businesses in other regions remain core to the company's portfolio.
PPG reported record third quarter 2024 financial results with reported earnings per diluted share (EPS) of $2.00 and adjusted EPS of $2.13. Net sales were $4.6 billion, with organic sales flat versus the prior year. Segment margins improved 60 basis points year over year, marking eight consecutive quarters of margin expansion. The company repurchased approximately $200 million in shares during the quarter and $500 million year to date.
Performance Coatings segment saw a 1% increase in net sales to $2,921 million, with segment income up 13% to $513 million. Industrial Coatings segment experienced a 6% decrease in net sales to $1,654 million, with segment income down 19% to $199 million. PPG maintains its full-year 2024 guidance, expecting organic sales to be flat and adjusted EPS to be at the low end of the $8.15 to $8.30 range.
PPG (NYSE:PPG) has received the highest 'AAA' rating from the Morgan Stanley Capital International (MSCI) ESG ratings assessment, placing it in the top 11% of companies in the specialty chemicals category. This recognition highlights PPG's commitment to sustainability as a driver of continuous improvement in productivity.
Peter Votruba-Drzal, PPG vice president of global sustainability, emphasized the company's focus on increasing sales of sustainably advantaged solutions and reducing waste, water, emissions, and energy use. The MSCI ESG Research provides ratings on a scale from AAA (leader) to CCC (laggard), assessing companies' environmental, social, and governance-related business practices.
PPG, headquartered in Pittsburgh, operates in over 70 countries and reported net sales of $18.2 billion in 2023. The company serves customers in construction, consumer products, industrial and transportation markets, and aftermarkets.
PPG (NYSE: PPG) has signed a strategic agreement with Shaw Industries Group to offer the PPG FLOORING™ line of resinous flooring products through Shaw's Patcraft® brand to customers in the commercial property market. This partnership expands PPG's market reach and enhances Shaw's portfolio of flooring solutions.
Resinous flooring is valued for its durability, versatility, and aesthetic appeal, particularly in institutional, industrial, and workplace environments. The PPG Flooring portfolio offers chemical and abrasion resistance for concrete floors, ensuring long-lasting results.
Kelley Fain, executive vice-president of Shaw's commercial business, emphasized the company's commitment to delivering exceptional experiences through diverse flooring solutions. Jenn Solcz, PPG vice president, Protective and Marine Coatings U.S. and Canada, highlighted the partnership as a significant milestone for both companies.
PPG (NYSE: PPG) has announced details for its third-quarter 2024 earnings release and teleconference call. The earnings release is scheduled for Wednesday, Oct. 16, after U.S. stock markets close, followed by a teleconference on Thursday, Oct. 17, at 8 a.m. ET. Key participants include Tim Knavish (Chairman and CEO), Vincent Morales (SVP and CFO), and Alex Lopez (Director, Investor Relations).
Investors can register for the conference call online and access a live webcast via the PPG Investor Center. A telephone replay will be available from Oct. 17 to Oct. 31, and a web replay will be accessible until Oct. 15, 2025. The earnings release, prepared remarks, and segment results will be available on the PPG Investor Center and Newsroom.
PPG (NYSE: PPG) has been awarded a Caterpillar Supplier Excellence Award 2024 from Caterpillar Inc. (NYSE: CAT). The award was presented at Caterpillar's Supplier Excellence Recognition event in Grapevine, Texas on Sept. 19, where only the top four percent of CAT suppliers globally were invited.
This prestigious award demonstrates PPG's excellence in meeting customer commitments across Caterpillar's global presence in multiple industries. PPG met or exceeded rigorous requirements and achieved world-class certification levels under Caterpillar's Supplier Excellence programming from May 2023 through June 2024.
Kevin Wozniak, PPG global accounts director for Industrial Coatings, highlighted that this is PPG's first time receiving a Supplier Excellence Award, showcasing their commitment to providing innovative, high-quality products that exceed Caterpillar's standards. PPG, a global leader in coatings, paints, and specialty materials, has been at the forefront of innovation for over 140 years, offering comprehensive solutions that prioritize technology, quality, and sustainability in the industrial market.
PPG (NYSE:PPG) has announced Purple Basil (DLX1046-7) as the DULUX® PAINTS by PPG 2025 Colour of the Year. This warm, rich purple hue embodies the trend of using dramatic colours in home decor, encouraging consumers to embrace bold paint choices. Mitsu Dhawan, PPG marketing manager, emphasizes the transformative power of this colour, suitable for various applications including:
- Interior walls and trim
- Interior cabinetry
- Exterior accents
The selection of Purple Basil reflects the rise of maximalism in design, fashion, and consumer goods. PPG recommends using Dulux Colour Sample pots and their online visualization tool to help consumers make informed colour decisions. With over 240 company-owned stores across Canada, PPG continues to serve both consumer and professional markets in the paint and coatings industry.
PPG (NYSE:PPG) has announced Starry Night (6044-83) as the SICO™ paint by PPG 2025 Colour of the Year. This deep purple hue, inspired by the night sky, aims to balance warmth and energy in interior spaces. The color is recommended for:
- Interior walls and trim
- Interior cabinetry
- Exterior doors
Starry Night pairs well with other colors from the 2025 palette, including Pink Adobe, Soft Shell Clam, and Gray Area. PPG suggests using SICO PRESTIGE™ paint for interior applications, offering one-coat hide in over 1,000 colors. For exteriors, SICO Super Premium Exterior paint is recommended. Consumers can visualize Starry Night in their homes using the online SICO DECO COLOUR LAB™ software.
PPG (NYSE:PPG) has announced Purple Basil (PPG1046-7) as the GLIDDEN® paint 2025 Color of the Year. This warm, high-impact hue aims to encourage 'color chip daydreamers' to embrace dramatic colors. PPG color experts recommend Purple Basil for:
- Interior walls and trim
- Interior cabinetry
- Exterior accents
The color choice reflects the rise of maximalism across design, fashion, and consumer goods. Glidden products featuring Purple Basil are available at THE HOME DEPOT®, WALMART®, independent retailers, Glidden.com, and AMAZON®. PPG's other brands, including PITTSBURGH PAINTS & STAINS® and PPG PAINTS™, also recognize Purple Basil as their 2025 Color of the Year.
PPG (NYSE:PPG) has announced Purple Basil (PPG1046-7) as its 2025 Color of the Year. This dusty violet hue, also known as Amethyst Shadow and Acai Berry in some European markets, represents adaptability in times of change. It's part of PPG's 2025 'Kinetic' global color theme, which includes four distinct color palettes.
Purple Basil is described as a sophisticated, elegant color that works well in both traditional and edgy designs. It's warm enough to be inviting yet cool enough to create an air of mystery. The color reflects the global theme of movement shaping design trends across industries.
PPG's color forecasting process involves collaboration among dozens of color stylists and considers social, cultural, and political dynamics worldwide. The company aims to create a collection that resonates with diverse audiences globally.
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