PPG Industries(PPG) ZACKS·2024-09-10 12:11Product 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 2.20 and full-year adjusted EPS in the range of 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]