PPG Industries experienced a tumultuous period with its stock hitting a 12-month low, marking an underperformance in the market. Significant strategic decisions have been taking place, including a plan to lay off 1,800 employees as part of a cost-cutting initiative. This drastic measure comes alongside the sale of PPG's architectural coatings business in the United States and Canada to American Industrial Partners. Additionally, PPG's Industrial Coatings Plant in Vietnam completed an expansion. This comes on the heels of PPG's silicas products business being sold to QEMETICA. Predictions indicate an 11% EPS CAGR throughout 2027, per Jefferies' revised stock target. However, its third-quarter earnings for 2024 fell short of projections. Despite the challenges, PPG's fundamentals remain potentially strong, suggesting the market might be undervaluing the stock. Furthermore, PPG's outreach efforts remain robust, donating digital refinish tools to several vocational schools in Europe, in addition to expanding its powder coatings distribution in Italy through a partnership with SARO/Siccardi.
Ppg Industries PPG News Analytics from Tue, 23 Jul 2024 07:00:00 GMT to Fri, 10 Jan 2025 19:52:56 GMT -
Rating -5
- Innovation 3
- Information 1
- Rumor -6
