Core Insights - American Industrial Partners (AIP) has entered into a definitive agreement to acquire PPG's architectural coatings business in the U.S. and Canada, which generated approximately $2 billion in revenue in 2023 [1][2] - The transaction is expected to close in late 2024 or early 2025, pending customary closing conditions [1] - AIP aims to leverage its operational expertise and customer focus to enhance the architectural coatings business and expand into new markets [3] Company Overview - PPG's architectural coatings business is a leading producer of various paint and coating products, including interior and exterior paints, stains, and adhesives, with a strong market presence and iconic brands such as GLIDDEN® and DULUX® [2] - The business employs over 6,000 individuals across its U.S. and Canadian facilities, which include 750 company-owned stores [2] - AIP manages approximately $16 billion in assets and focuses on industrial businesses across diverse markets, aiming to generate differentiated returns through strategic investments [4]

PPG Industries, Inc. (PPG) reported a third-quarter 2024 profit of $468 million or $2 per share, up from $426 million or $1.79 per share in the year-ago quarter. In the reported quarter, excluding one-time items, adjusted earnings per share increased to $2.13 from $2.07 in the year-ago quarter, missing the Zacks Consensus Estimate of $2.15. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. The company's revenues were $4,575 million in the quarter, down roughly 1.5% year over year. The ...

Core Insights - PPG Industries reported revenue of $4.58 billion for Q3 2024, a year-over-year decline of 1.5%, with an EPS of $2.13 compared to $2.07 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $4.65 billion, resulting in a surprise of -1.67%, while the EPS also missed the consensus estimate of $2.15 by -0.93% [1] Financial Performance Metrics - Net Sales for Industrial Coatings were $1.65 billion, below the estimated $1.69 billion, reflecting a year-over-year decline of 6.2% [3] - Net Sales for Performance Coatings reached $2.92 billion, slightly below the estimated $2.96 billion, with a year-over-year increase of 1.4% [3] - Segment Income for Industrial Coatings was reported at $199 million, significantly lower than the estimated $245.41 million [3] - Segment Income for Performance Coatings was $513 million, exceeding the average estimate of $488.82 million [3] Stock Performance - PPG Industries' shares have returned +1.9% over the past month, compared to the Zacks S&P 500 composite's +3.5% change [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]

PPG Industries Inc. (PPG) is set to release third-quarter 2024 results after the closing bell on Oct. 16. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. PPG Industries beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters while delivering in-line results on the other occasion. It has a trailing four-quarter earnings surprise of around 2.2%, on average. The paint giant is expected to have benefited from acquisitions, pricing actions and restructuring ...

PPG Industries Inc. (PPG) recently announced that its SEM Products business has launched a full line of performance abrasives aimed at simplifying complex automobile collision repairs while emphasizing technicians' demands. SEM Performance Abrasives are specifically tailored for each stage of the repair procedure. The product line includes precision grain technology, which is intended to provide rapid cutting, longevity and consistency across a wide range of repairs and substrates. SEM abrasives offer high ...

SYDNEY, Sept. 26, 2024 /PRNewswire/ -- Cardiex Limited (ASX: CDX), a global health technology company focused on cardiovascular diagnostics and arterial health solutions, today announced the publication of a peerreviewed study validating its innovative method for measuring central aortic pressure—an important indicator of heart health—using a noninvasive fingertip sensor. The study, co-authored by Cardiex's team, was published in the respected journal Pulse. The study, titled "Validation of Noninvasive Deri ...

PPG Industries Inc. (PPG) will exhibit its portfolio of functional coatings, adhesives, and sealants designed to address the evolving challenges of the electric vehicle (EV) market at the Battery Show North America, which will be held on Oct. 8-10 at the Huntington Place convention center in Detroit, MI. PPG will highlight its novel PPG CORACHAR fire retardant coating, which provides strong protection when combined with PPG's electrocoat technology by improving thermal barrier qualities that are crucial for ...

Product Launch - PPG Industries Inc launched PPG Steelguard 951 epoxy intumescent fire protection coating in the Americas, targeting advanced manufacturing facilities such as semiconductor plants, electric vehicle battery facilities, data centers, and commercial infrastructure [1] - The coating offers up to four hours of fire protection by expanding from a thin film to a thick insulating foam, ensuring structural integrity, providing more evacuation time, and reducing damage to buildings and assets [2] - PPG Steelguard 951 provides up to 3,500 microns of dry-film thickness in a single layer, cures quickly, and is ready for use the next day, making it suitable for modular construction projects [3] - The coating passes strict testing criteria, supports modern construction procedures, and offers corrosion resistance up to ISO 12944 C5 without a topcoat [3][4] Market Expansion - Following its successful debut in Europe and the Middle East, PPG Steelguard 951 is now available in North and Latin America [2] Financial Performance - PPG shares have lost 7.5% over the past year, compared to an 11.5% decline in its industry [4] - The company projects adjusted EPS for Q3 2023 in the range of $2.10-$2.20 and full-year adjusted EPS in the range of $8.15-$8.30, considering factors such as global economic activity, uneven industrial production, reduced automotive production, stabilizing demand in Europe, and growth in Mexico, India, and China [4] Industry Comparison - Carpenter Technology Corporation (CRS) has a Zacks Rank 1 (Strong Buy), with shares soaring 125.1% in the past year and an average earnings surprise of 15.9% over the last four quarters [6] - Eldorado Gold Corporation (EGO) has a Zacks Rank 1, with shares rallying roughly 80.5% in the past year and an average earnings surprise of 430.3% over the last four quarters [7] - Hawkins, Inc (HWKN) has a Zacks Rank 1, with shares rallying around 101% in the past year and a 15.3% year-over-year rise in current fiscal-year earnings estimates [8]

PPG Industries Inc. (PPG) has announced that it will demonstrate its digital and sustainable solutions at Automechanika Frankfurt 2024, the world's premier trade fair for the automotive aftermarket, which will be held at the Messe Frankfurt exhibition center in Germany from Sept. 10-14. PPG will highlight the latest advances in digital tools and sustainable technologies on the fifth anniversary of the introduction of the PPG Moonwalk automated mixing machine. Visitors will be able to get a firsthand experie ...

PPG Industries Inc. (PPG) announced that it has expanded its facilities in Petaling Jaya, Malaysia, to manufacture non-stick coatings for kitchenware, industrial bakeware and low-friction applications. This will aid PPG in meeting the surge in coatings demand in the region. Also, it will have more space dedicated to vital client services, such as a cutting-edge testing laboratory. PPG Boosts Kitchen & Bakeware Industries Portfolio The Petaling Jaya factory now has five new production lines for waterborne an ...