PPG Industries to Exhibit Digital & Sustainable Solutions in Frankfurt

PPG Industries Inc. PPG has announced that it will demonstrate its digital and sustainable solutions at Automechanika Frankfurt 2024, the world's premier trade fair for the automotive aftermarket, which will be held at the Messe Frankfurt exhibition center in Germany from  Sept. 10-14. PPG will highlight the latest advances in digital tools and sustainable technologies on the fifth anniversary of the introduction of the PPG Moonwalk automated mixing machine.

Visitors will be able to get a firsthand experience of the novel solutions that are set to boost the efficiency, precision and sustainability of automotive refinishing. Demonstrations of PPG's latest digital technologies will include tools from the PPG LINQ digital ecosystem that improve body shop precision and productivity.

PPG will also feature products and processes that promote sustainability in the automotive sector. Customers can accomplish environmental targets by using featured solutions such as airdry technology and innovations in primer and basecoat technology, which result in considerable energy savings and carbon emission reductions due to shorter process times and lower curing temperatures. Sustainably advantageous products are discovered utilizing PPG's own methodology, which assesses product features and their contribution to the UN Sustainable Development Goals.

Shares of PPG have lost 8% over the past year compared with a 9.8% decline of its industry.

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In the second quarter, PPG saw a mid-single-digit percentage year-over-year decline in organic sales for automotive refinish coatings. Sales volumes in the United States declined, while Latin America saw modestly lower organic sales. While demand in Europe was stable, China saw a demand recovery for refinish products. PPG' LINQ services subscriptions grew, and it added around 230 Moonwalk installations in the quarter, further supporting its customer productivity and associated share gain.

PPG projects adjusted earnings per share for the third quarter in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the range of $8.15 to $8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.

PPG's Zacks Rank & Key Picks

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

Better-ranked stocks in the basic materials space include Carpenter Technology Corporation, Eldorado Gold Corporation and Newmont Corporation.

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The Zacks Consensus Estimate for Newmont's current-year earnings is pegged at $2.82, indicating a rise of 75% from the year-ago levels. The consensus mark for NEM's earnings has increased 14% in the past 60 days. NEM, a Zacks Rank #1 stock, has gained nearly 35.7% in the past year.

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