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's Olympic Stains introduced its first-ever 2021 Stain Color of the Year, Light Oak, designed to enhance DIY home improvement projects. The soft, semi-transparent tan color aims to create a connection to nature, revitalizing outdoor spaces such as decks and fences. Light Oak complements outdoor furnishings and is available in various Olympic stain products. PPG emphasizes empowering homeowners with quality products and guidance for their projects, highlighting the growing importance of DIY activities during the pandemic.
PPG (NYSE: PPG) has acquired Cetelon Lackfabrik GmbH, a German manufacturer of coatings for automotive wheels, with undisclosed financial terms. Cetelon, established in 1948, specializes in a range of coating systems and operates globally from Ditzingen, Germany. This acquisition enhances PPG's existing coatings and color matching capabilities, leveraging Cetelon's customer relationships and expertise to drive growth in the transportation sector. The acquisition is seen as mutually beneficial, expanding PPG's portfolio and market reach.
PPG (NYSE:PPG) reported first quarter 2021 net sales of approximately $3.9 billion, marking a 15% increase year-over-year. Selling prices rose by nearly 2%, while sales volumes improved by 7%. Net income reached $378 million or $1.58 per diluted share, with adjusted net income at $450 million or $1.88 per diluted share. Despite challenges from raw material inflation and subdued demand in certain sectors, the company achieved structural cost savings of $35 million and forecasted $25 million to $30 million in synergies from acquisitions.
PPG (NYSE:PPG) held its annual shareholder meeting virtually, where CEO Michael H. McGarry reviewed the company’s strategic progress and resilient performance in 2020 amidst COVID-19 challenges. PPG reported $13.8 billion in net sales and $5.70 adjusted earnings per share. The company achieved record operating cash flow of nearly $2.1 billion and announced six value-creating acquisitions. Sustainability efforts included a 24% reduction in greenhouse gas emissions. Looking ahead, PPG aims for above-market earnings growth despite ongoing economic uncertainties.
PPG (NYSE:PPG) has declared its regular quarterly dividend of 54 cents per share, payable on June 11 to shareholders of record by May 10. This dividend marks the 491st consecutive payment, reinforcing PPG's commitment to shareholder returns with a history of 49 years of annual dividend increases. The company has been paying uninterrupted annual dividends since 1899. With annual net sales of $13.8 billion reported in 2020, PPG continues to serve diverse markets globally.
PPG (NYSE:PPG) has extended the tender offer period for all shares of Tikkurila Oyj (NASDAQ OMX:TIK1V) to May 11, 2021, initially set to expire on April 14, 2021. The offer has received approval from the European Commission and Finnish authorities, while approval from Kazakhstan has also been granted. The tender offer's completion is contingent on pending regulatory approval from the Federal Antimonopoly Service of Russia, anticipated within the extended period. PPG expects to close the acquisition shortly after the new deadline.
PPG (NYSE: PPG) has launched its China Application Innovation Center (CAIC) in Zhangjiagang, Jiangsu Province, marking its first cross-business R&D hub in the region. This facility aims to bridge innovation with customer applications across PPG's industrial, packaging, and automotive coatings sectors. Equipped with advanced technologies, the CAIC allows for rapid testing and development of customized paint products, enhancing speed to market. PPG’s investment aligns with China's 14th Five-Year Plan, reinforcing its commitment to sustainable development and innovation.
PPG (NYSE:PPG) will release its first quarter 2021 earnings on April 15 after U.S. stock markets close. A teleconference will be held on April 16 at 8 a.m. ET, featuring PPG's CEO Michael H. McGarry, CFO Vincent J. Morales, and VP of Investor Relations John Bruno. Dial-in registration is available at this link. A webcast will also be accessible via the PPG Investor Center. Replay options are provided for those unable to attend. Further financial details will be available post-earnings release.
FAQ
What is the current stock price of PPG Industries (PPG)?
What is the market cap of PPG Industries (PPG)?
What does PPG Industries, Inc. specialize in?
Where is PPG Industries headquartered?
On which stock exchange are PPG shares traded?
What was PPG Industries' reported net sales in 2014?
In how many countries does PPG Industries operate?
What recent acquisitions has PPG made?
What markets does PPG Industries serve?
How does PPG Industries contribute to sustainability?
What are some of PPG Industries' recent projects?
What is PPG's vision?
