PPG Industries to Feature Innovative Solutions in Las Vegas
PPG Industries Inc. PPG announced that it will demonstrate its innovative approach to color styling and trend consultation in the wood and building products unit during The International Surface Event (TISE).
Notably, TISE will be held at Mandalay Bay Convention Center in Las Vegas between Jan 28 and Jan 30.
The company’s booth is expected to showcase Chinese Porcelain, and the complete array of innovative solutions in wood and luxury vinyl coatings. It will also highlight wood and vinyl flooring choices that complement Chinese Porcelain.
Notably, Chinese Porcelain is PPG paint brand’s 2020 color of the year. It is a combination of cobalt and moody ink blue, which offers peaceful and restful sleep, and a spirit of hopefulness.
Per Management, drawing upon its century-long heritage of creativity in floor coatings, its color team carries expertise spanning across industries and geographies. Also, its team’s extensive knowledge of the flooring industry helps companies recognize and respond to emerging trends, allowing its customers to predict consumer demand for specific colors and styles more readily.
Further, PPG Industries will highlight products such as primers, basecoats, stains, fillers, sealers, and topcoats for wood and luxury vinyl flooring at every stage of the coatings process. Moreover, the company’s booth will showcase products such as PPG Claritage III anti-scratch topcoats and PPG Raycron ultraviolet (UV)-curable coatings.
Notably, experts from the company’s research and development lab for wood coatings in Springdale, PA, will be available to answer questions related to wood floor finishing and innovations.
Shares of PPG Industries have rallied 23.6% in the past year against a 22.4% decline of the industry.
The company, last week, reported net income from continuing operations of $295 million or $1.23 per share for the fourth-quarter 2019 compared with $256 million or $1.07 per share in the year-ago quarter. However, adjusted earnings per share of $1.31 trailed the Zacks Consensus Estimate of $1.35.
Revenues edged up 0.7% year over year to $3,672 million in the reported quarter. Moreover, the top line beat the Zacks Consensus Estimate of $3,662.2 million.
Moving ahead, PPG Industries expects organic growth to continue in the Performance Coatings unit in 2020. For the Industrial Coatings unit, the company expects a rebound in volume growth in second-half 2020.
While the company is beginning to witness a modest recovery in industrial demand in China, it expects soft general industrial demand to continue in the United States and Europe.
For 2020, the company projects adjusted EPS growth between 4% and 9%, which excludes the impact of currency translation. First-quarter 2020 earnings per share from continuing operations are projected in the range $1.32-$1.42.
The company expects sales growth in the range of 1%-3% (on constant currencies basis) for 2020, including acquisitions.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Stocks to Consider
PPG Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Daqo New Energy Corp. DQ, Royal Gold, Inc. RGLD and Commercial Metals Company CMC.
Daqo New Energy has a projected earnings growth rate of 326.3% for 2020. The company’s shares have rallied 60.1% in a year. It sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Royal Gold has an estimated earnings growth rate of 83.5% for fiscal 2020. It currently flaunts a Zacks Rank #1. Its shares have returned 39.4% in a year.
Commercial Metals has a Zacks Rank #2 (Buy) and a projected earnings growth rate of 17.3% for 2020. The company’s shares have rallied 33.1% in a year.
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