Welcome to our dedicated page for PPG Industries news (Ticker: PPG), a resource for investors and traders seeking the latest updates and insights on PPG Industries stock.
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 has appointed Scott Bartlett as vice president of operations for global architectural coatings, effective Nov. 1, 2020. Reporting to executive vice president Tim Knavish, Bartlett will focus on enhancing operational efficiency and synergies across PPG’s global architectural coatings portfolio. Bartlett has been with PPG since 2015, where he led supply chain initiatives. His extensive background includes over 30 years in supply chain management at various companies, including ConAgra Foods and DuPont. This leadership change aims to boost profitability and streamline operations.
PPG has been selected by Magnetic MRO for a VIP aircraft repaint project, utilizing a variety of PPG aerospace coatings. The project involved the use of Embraer-approved PPG DESOPRIME™ HS CA7755BE epoxy primer and PPG DESOTHANE™ CA8000 system across five mica and metallic colors. The repaint was completed within 16 days at Magnetic MRO’s facility in Tallinn, Estonia. PPG’s application support center in Hamburg facilitated the project by providing technical assistance and blended coatings. This collaboration emphasizes PPG's capabilities in the VIP market.
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PPG reported third quarter 2020 net sales of approximately $3.7 billion, down 4% year-over-year, with selling prices up 1.3%. Net income from continuing operations increased to $442 million ($1.86 per diluted share), compared to $366 million ($1.54 per diluted share) in Q3 2019. Strong performance in architectural coatings and effective cost management contributed to earnings growth, despite a 5% sales volume decline from pandemic impacts. The company anticipates a low-to-mid-single digit sales volume decrease in Q4 2020 and projects adjusted EPS between $1.50 and $1.57.
PPG announced the promotion of Andrea Giunta to vice president of science and technology for color, effective October 1. Giunta joined PPG in 1997 and has held various positions, leading key innovations like the PPG ENVIROBASE® high-performance waterborne basecoat. He previously served as director of global S&T for automotive refinish and created global centers of excellence. Giunta's appointment aims to enhance PPG's automated color matching and digital rendering capabilities.
PPG (NYSE:PPG) has declared a quarterly dividend of 54 cents per share, set for payment on December 11, with a record date of November 10. This dividend marks the 489th consecutive payment the company has made, underscoring PPG's commitment to returning value to shareholders. Notably, PPG has increased its annual dividend payout for 48 consecutive years and has consistently paid dividends since 1899. Established 135 years ago, PPG continues to serve various markets globally.
PPG (NYSE: PPG) has been included in the FTSE4Good Index Series for the second consecutive year, highlighting its dedication to sustainability and ethical governance. The index evaluates companies based on their environmental, social, and governance (ESG) practices. In 2019, PPG achieved 33% of sales from sustainable products, and 33% of its locations generated zero landfilled waste. The company invested $6.8 million in STEM education and positively impacted 6.5 million community members through its COLORFUL COMMUNITIES projects.
PPG announced a positive outlook for Q3 2020 with adjusted earnings per diluted share expected between $1.90 and $1.94, up from $1.67 in Q3 2019. Sales volumes are projected to decline by 5%, which is better than previous guidance of 6% to 11%. Strong demand in global architectural coatings is driving performance, alongside effective cost management leading to improved operating margins.
The full financial results will be released on October 19, 2020, with a teleconference scheduled for October 20, 2020.
PPG (NYSE: PPG) announces its products played a central role in the construction of Allegiant Stadium, unveiled on September 21 during Monday Night Football. The stadium features distinctive black and silver colors, enhanced by PPG's easy-to-apply, long-lasting paints, coatings, and specialty materials. Key products include PPG Amercoat 68 HS and PPG PSX 700 for corrosion protection, and PPG Duranar XL for its curtainwall, ensuring durability against Las Vegas weather. With reported net sales of $15.1 billion in 2019, PPG demonstrates its commitment to innovation in protective and decorative coatings.