Ppg Inds Inc Stock Price, News & Analysis

PPG has announced the 2023 Color of the Year, Vining Ivy, a versatile bluish-green shade aimed at enhancing contemporary and traditional designs alike. This color responds to consumer desires for simplicity and tranquility post-COVID, symbolizing serenity and grounding. Available in GLIDDEN DIAMOND™ paint, it offers a one-coat application under $30 and is exclusively sold at The Home Depot. PPG suggests this adaptable hue for both interior and exterior applications, enhancing residential and commercial spaces while appealing to professional painters.

PPG (NYSE: PPG) announced that CEO Michael H. McGarry signed the CEO Letter on Disability Inclusion, part of Disability:IN's CEOs Are IN campaign. This commitment emphasizes the importance of evaluating corporate inclusion processes and advancing disability equality. PPG recently earned a top score of 100 on the Disability Equality Index, recognized as a 'Best Place to Work for Disability Inclusion.' McGarry highlighted the company's ongoing efforts to promote an inclusive work environment, affirming PPG’s dedication to removing barriers for employees.

PPG (NYSE: PPG) has launched its new product, PPG INNOVEL® PRO, an enhanced internal spray coating for aluminum cans, which eliminates bisphenol-A (BPA) and improves application properties.

This next-gen acrylic coating has been widely utilized for nearly a decade, contributing to the production of over 220 billion cans across more than 40 countries.

The coating is compliant with global food safety standards and features a lower migration profile, offering operational benefits for beverage can manufacturers.

PPG reported record net sales of $4.7 billion for Q2 2022, marking an 8% increase year-over-year. The company achieved a 3% rise in net income to $443 million, with EPS at $1.86. Adjusted EPS decreased by 7% to $1.81, influenced by a 20% rise in raw material costs. Despite challenges including softening demand in Europe and COVID-19 disruptions in China, PPG's sales were bolstered by higher selling prices, which grew by 12%. Segment operating margins improved by 200 basis points sequentially, and the company anticipates continued growth and margin recovery.

PPG (NYSE:PPG) has announced a 3-cent increase in its quarterly dividend, raising it to 62 cents per share, payable on September 10 for shareholders of record as of August 10. This increment marks the company’s 51st consecutive year of annual dividend increases. The previous quarterly dividend was 59 cents. PPG’s management expressed confidence in the company’s ability to generate and grow operating cash flow. The upcoming dividend payment will be PPG's 496th consecutive payment, continuing a tradition since 1899.

PPG has partnered with U.K. airline design consultancy Aerobrand to innovate airline livery design services. This collaboration merges paint supply with custom design capabilities, enhancing speed and cost-effectiveness for customers. Airlines can access PPG LIVERY LAB℠ facilities in California and the U.K. for hands-on design work with experts. The partnership aims to streamline the painting process by providing integrated services, including cost estimation that reduces waste, ultimately benefitting airline clients.

PPG (NYSE: PPG) has announced the details for its second quarter 2022 earnings release and teleconference call. The earnings release will be available on Thursday, July 21, after U.S. market close, followed by a teleconference on Friday, July 22, at 8 a.m. ET. Key participants from PPG include CEO Michael H. McGarry, COO Tim Knavish, and CFO Vincent J. Morales. Registration for the call is available through their investor center. A replay will be accessible from July 22 to August 5.

PPG (NYSE:PPG) is set to boost manufacturing output by up to 20% at its Huntsville, Alabama, and Sylmar, California, facilities to cater to growing demand for its aerospace aftermarket products. The company plans to enhance factory automation to improve delivery times for aerospace coatings and sealants. A new aerospace application support center is being built in Toulouse, France, with an investment of $17 million, expected to commence operations in Q4 2023. PPG aims to support the aviation industry's recovery as travel demand rises.