Core Viewpoint - PPG Industries Inc. has completed the divestment of its silicas products business to QEMETICA for approximately $310 million in pre-tax proceeds, marking a strategic shift for the company [1][4]. Group 1: Divestment Details - The silicas products division accounted for 1-2% of PPG's overall net sales in 2023, indicating its relatively small contribution to the company's total revenue [2]. - The divestment includes manufacturing plants in Lake Charles, LA, and Delfzijl, the Netherlands, along with leased operations in Barberton, OH, and Monroeville, PA [2]. Group 2: QEMETICA Overview - QEMETICA is a leading European chemical manufacturer with a focus on expanding its global presence through strategic acquisitions and diversifying its portfolio [3]. - The company aims to blend modern business practices with a commitment to long-term development [3]. Group 3: Financial Performance and Outlook - PPG anticipates flat organic sales and adjusted earnings per share at the lower end of the $8.15 to $8.30 range for the full year 2024 [6]. - PPG's shares have declined by 8.4% over the past year, slightly better than the industry's decline of 8.5% [5].

Partnership and Market Expansion - PPG Industries Inc has partnered with SARO/Siccardi, Italy's largest distributor of powder coatings, to strengthen its distribution network in Italy and enhance customer access to high-quality products and services [1] - The collaboration leverages PPG's global leadership in powder coating technology and SARO/Siccardi's market expertise and strong regional presence to provide superior product protection and an efficient purchasing experience for customers [2] - The partnership will enable closer collaboration with customers, offering specialized solutions, technical support, competitive pricing, and faster access to PPG's advanced powder coating technology through SARO/Siccardi's extensive distribution network [3] Strategic Focus on Powder Coatings - Since 2019, PPG has prioritized expanding its powder coating business through strategic alliances, acquisitions, R&D investments, and capacity enhancements to meet the growing demand for sustainable manufacturing solutions [4] - Powder coatings, which are solvent-free and emit no VOCs, align with PPG's goal of deriving 50% of sales from environmentally advantageous products and processes by 2030 [4] Financial Performance and Outlook - PPG's shares have declined 11.3% over the past year, underperforming the industry's 10.3% decline during the same period [5] - The company anticipates flat organic sales and adjusted earnings per share in the range of $8.15 to $8.30 for full-year 2024 [6] Industry Comparison and Stock Performance - Carpenter Technology Corporation (CRS) has outperformed with a 157.2% share price increase over the past year and an average earnings surprise of 14.1% in the last four quarters [8] - IAMGOLD Corporation (IAG) has seen a 112% share price rally and a 522.2% year-over-year earnings growth estimate, with an average earnings surprise of 203.4% in the last four quarters [9] - CF Industries Inc (CF) has rallied 13.1% over the past year, with an average earnings surprise of 10.3% in the last four quarters [10]

Core Viewpoint - PPG Industries reported mixed financial results for Q3 2024, with earnings per share increasing but revenues missing estimates, leading to a downward trend in stock performance and estimates [2][3][8]. Financial Performance - The company reported a profit of $468 million or $2 per share for Q3 2024, an increase from $426 million or $1.79 per share in the same quarter last year [2]. - Adjusted earnings per share rose to $2.13 from $2.07 year-over-year, but fell short of the Zacks Consensus Estimate of $2.15 [2]. - Revenues for the quarter were approximately $4.57 billion, down about 1.5% year-over-year, missing the Zacks Consensus Estimate of $4.65 billion [3]. Segment Review - The Performance Coatings segment saw revenues increase by 1.4% year-over-year to around $2.92 billion, driven by higher sales volumes and prices, with segment income climbing 13% [4]. - Conversely, the Industrial Coatings segment experienced a 6.2% decline in revenues to roughly $1.65 billion, attributed to lower sales volumes and selling prices, resulting in a 19% drop in segment income [5]. Financial Position - At the end of Q3, PPG Industries had approximately $1.25 billion in cash and cash equivalents, reflecting a 2.7% year-over-year increase [6]. - Long-term debt rose to around $6.14 billion, up from $5.6 billion in the prior-year quarter [6]. Outlook - The company anticipates flat organic sales and adjusted earnings per share at the lower end of the $8.15 to $8.30 range for the full year 2024 [7]. - There has been a downward trend in fresh estimates for the stock over the past month, indicating a negative outlook [8]. Investment Scores - PPG Industries currently holds a Growth Score of B but has a low Momentum Score of D, with an overall VGM Score of B, placing it in the middle 20% for investment strategies [9]. - The stock has a Zacks Rank of 4 (Sell), suggesting expectations of below-average returns in the coming months [9].

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 ...