PPG Industries Inc. PPG has collaborated with SARO/Siccardi, Italy's largest distributor of powder coatings. The partnership will reinforce PPG's powder coating distribution network in Italy while increasing customer access to high-quality products and services. 

A tie-up with a customer-focused and respected company like SARO/Siccardi will help PPG speed up its powder expansion. It will use PPG's position as a global leader in powder coating technology, as well as SARO/Siccardi's market knowledge and strong presence, to give customers in the region the best product protection and an efficient powder purchasing experience.

PPG and SARO/Siccardi will collaborate closely with customers to better understand their specific needs and offer specialized solutions, technical support and competitive pricing. Customers in Italy will benefit from PPG's advanced powder coating technology and SARO/Siccardi's broad distribution network, which will provide a more comprehensive variety of high-quality products and faster access to PPG solutions. Access to PPG warehouses, laboratories and manufacturing facilities in Italy will enhance SARO/Siccardi's customer service and response times.

Since 2019, PPG has focused on expanding its powder coating business through strategic alliances and acquisitions, investments in research and development (R&D) and capital enhancements that increase global production capacity to satisfy rising demand for more sustainable manufacturing solutions. Powder coatings are typically made without solvents that emit volatile organic compounds (VOCs), and overspray can be recycled and reused. Powder coating technologies are a critical component of PPG's goal to attain 50% of sales from ecologically advantageous goods and processes by 2030.

PPG Industries shares have lost 11.3% in the past year compared with the industry’s decline of 10.3% over the same period.

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PPG anticipates flat organic sales and adjusted earnings per share in the $8.15 to $8.30 range for full-year 2024.

PPG’s Rank & Key Picks

PPG currently carries a Zacks Rank #4 (Sell).

Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, IAMGOLD Corporation IAG and CF Industries Inc. CF. 

Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The company's shares have soared 157.2% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for IAG’s current-year earnings is pegged at 56 cents, indicating a year-over-year rise of 522.2%. The Zacks Consensus Estimate for IAG's current-year earnings has been going up in the past 30 days. IAG, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 203.4%. The company's shares have rallied roughly 112% in the past year.

The Zacks Consensus Estimate for CF’s current-year earnings is pegged at $6.32 per share. CF, a Zacks Rank #1 stock, beat the consensus estimate in two of the last four quarters while missed twice, with the average earnings surprise being 10.3%. CF has rallied around 13.1% in the past year.

 

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