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PPG Industries, Inc. develops and sells paints, coatings and specialty products for construction, consumer products, industrial, transportation and aftermarket customers. Company news commonly covers segment results in Global Architectural Coatings, Performance Coatings, Industrial Coatings, aerospace coatings, protective and marine coatings, Traffic Solutions, and packaging or automotive OEM coatings.
Recurring updates also include product and technology investments, such as radiation-curable coatings, protective systems for data center infrastructure, and R&D activity across regional laboratories. PPG news also addresses acquisitions that expand coatings lines, dividend declarations, shareholder meeting matters, leadership changes, digital transformation and operational efficiency initiatives.
PPG (NYSE: PPG) reported a strong second quarter 2021, with net sales reaching approximately $4.4 billion, up 45% year-over-year. Adjusted net income was $465 million, or $1.94 per diluted share, despite supply chain disruptions affecting volume growth. The company experienced a 3.5% increase in selling prices and a 24% rise in sales volumes. Additionally, PPG closed several acquisitions contributing to more than 10% sales growth. However, ongoing raw material shortages and logistics challenges are expected to impact future performance.
PPG (NYSE:PPG) announced a 5-cent increase in its quarterly dividend, bringing it to 59 cents per share, payable on Sept. 10 to shareholders of record on Aug. 10. This increase highlights PPG's achievement of 50 consecutive years of annual dividend increases, underscoring the company’s commitment to rewarding shareholders. The upcoming December dividend, pending Board approval, will be the company’s 493rd consecutive dividend payment, reflecting strong confidence in PPG's ability to generate cash flow, bolstered by recent acquisitions.
PPG (NYSE: PPG) has appointed Melissa Wills as vice president of finance administration, effective August 1, 2021. Wills will continue her role as CFO of the Americas while expanding her responsibilities to oversee financial administration in the EMEA and Asia Pacific regions. With over 30 years at PPG, Wills aims to enhance business finance support and transactional processing across the organization. Her extensive experience includes various leadership roles in finance and strategic planning, showcasing her capabilities to drive efficiency.
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PPG (NYSE: PPG) announces the resignation of Bill Schaupp, vice president and controller, effective July 31, 2021, to take a senior finance role at a Fortune 75 company. Schaupp has been with PPG since 2008, advancing through various financial positions, becoming controller in 2018. Effective August 1, 2021, Brian Williams, global director of finance for automotive refinish, will serve as acting controller until a permanent replacement is found. Williams joined PPG in 2005 and has held several leadership positions in finance within the company.
PPG (NYSE: PPG) has appointed LG Tackett as vice president of global operations for its industrial segment, effective August 9, 2021. Tackett, who previously held a similar role at DuPont, will manage global manufacturing, supply chain, engineering, and continuous improvement. His extensive background includes leadership roles at Valspar and Aleris International, as well as 15 years at Celanese. Tackett holds a bachelor’s and master’s degree in Mechanical Engineering from West Virginia University.
PPG (NYSE: PPG) announced its participation at Surcar Europe 2021, showcasing advancements in sustainable automotive color technology. Presentations by Sabine Griesbeck and Sven Reil will focus on digital color development and precision application methods, respectively, on July 1. PPG's digital styling program aims to reduce the color development time from nine months to a more efficient process, minimizing waste. Additionally, the new precision application technique can cut paint shop time significantly, enhance customization, and lower CO2 emissions, promoting sustainability in automotive manufacturing.
PPG (NYSE:PPG) has announced its second quarter 2021 earnings release schedule. The earnings report will be made available on Monday, July 19, after U.S. markets close, followed by a teleconference on Tuesday, July 20, at 8 a.m. ET. Key participants include CEO Michael H. McGarry and CFO Vincent J. Morales. Interested parties can register for the call via the provided link. Additionally, a live webcast will be accessible through PPG's Investor Center. The earnings press release will also be available on PPG's Investor Center and Newsroom sections.
PPG (NYSE:PPG) has successfully completed production trials of its Desothane HD CA9007 basecoat-clearcoat system on Boeing 767 freighter aircraft for FedEx at the Boeing facility in Everett, Washington. This system enhances application ease, drying speed, and aesthetic quality, while also providing excellent resistance to weathering and chemicals. The product meets the BMS 10-72 and AMS3095 specifications, promising reduced paint cycle times and increased durability, which can lower repaint frequency. Positive customer feedback underscores its effectiveness in enhancing productivity.
PPG (NYSE:PPG) has completed two production trials of its Desothane™ HD CA9007 basecoat-clearcoat system for Boeing 767 freighter aircraft at the Boeing facility in Everett, Washington. This new system enhances productivity with fast drying times, superior weathering, and improved aesthetic appearance. It meets BMS 10-72 and AMS3095 specifications, ensuring high performance for OEMs and airline customers. Positive feedback from customers highlights the ease of application and durability, which can reduce repaint cycles and extend asset life.