PPG Industries has put forth a range of strategic actions to stabilize their operations amid a challenging environment. These measures include a significant cost-cutting drive resulting in the
layoff of 1,800 employees and
closure of certain facilities. PPG has also entered into agreements to
sell the architectural coatings business in the U.S. and Canada along with its silicas product business to American Industrial Partners and QEMETICA, respectively. However, these measures have come following disappointing Q3 2024 earnings, where PPG failed to meet expectations, primarily due to
weakening global industrial production and
decreased demand for industrial coatings. The company's stock continues to outperform despite challenging market conditions with several ratings and price targets being reiterated after earnings release. Looking forward, analysts are keen to see how the
company's strategic divestments and
cost reduction program positively impact its financial performance.
Ppg Industries PPG News Analytics from Thu, 18 Apr 2024 07:00:00 GMT to Sat, 19 Oct 2024 14:16:00 GMT -
Rating -7
- Innovation -2
- Information 5
- Rumor -6
