PPG Unveils ADJUSTRITE for Commercial Body Shop Productivity

Product Development - PPG Industries Inc. has launched the PPG ADJUSTRITE Repair Management tool, enhancing the PPG AdjustRite commercial estimating system to boost productivity in commercial vehicle repairs [1] - The tool features a mobile-friendly design, providing technicians with a time clock system and automated tracking of labor hours per repair order, while shop managers gain insights from productivity indicators and efficiency statistics [1] Market Position - The PPG AdjustRite system is recognized as the leading estimating platform among commercial vehicle dealers, independent collision repair businesses, fleet repair units, independent adjusters, and insurance companies [2] - It utilizes a comprehensive database of truck components and repair data to generate reliable estimates based on actual vehicle model specifications, covering the entire repair process [2] Financial Performance - PPG's adjusted earnings per share rose to $1.53 in Q4 2023 from $1.22 in the same quarter last year, exceeding the Zacks Consensus Estimate of $1.50 [4] - The company's revenues increased approximately 4% year over year to $4,350 million in Q4 2023, surpassing the Zacks Consensus Estimate of $4,266.5 million [4] - For Q1 2024, PPG anticipates adjusted EPS in the range of $1.80-$1.87, and for the full year 2024, it expects adjusted EPS between $8.34-$8.59 [4] Stock Performance - PPG shares have increased by 9.8% over the past year, compared to a 19.6% rise in its industry [4]