PPG Industries Inc. PPG recently launched PPG LINQ Color software and the PPG MAGICBOX body shop assistant for smarter wireless mixing in vehicle repair facilities. The advanced equipment marks the latest development to the PPG LINQ end-to-end digital solution for the global refinish industry and improves productivity and sustainability for body shops.
The PPG MAGICBOX smart device eliminates the need for specialist computers in the mixing room by offering a PPG patented body shop assistant that connects to new and existing USB scales in body shops.
PPG LINQ allows refinish customers to streamline their repair process by utilizing PPG's cloud-based platform and its connected digital hardware, software and related services. The compact yet effective PPG MagicBox body shop assistant takes formulas directly from the PPG LINQ Color software and transmits environmental variables in mixing rooms. Additionally, these new features expand the digital ecosystem to smaller body shops that the PPG LINQ solution did not previously support.
Compared to a conventional repair procedure, the PPG LINQ system offers advantages such as quicker color matching from any Internet-connected device, less rework and no requirement for spray-out cards, faster and more effective paint mixing and waste reduction.
Shares of PPG have gained 14.5% over the past year compared with a 15.8% rise of its industry.
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The company expects adjusted EPS for the third quarter to be in the range of $1.85-$1.95. For the full year, the company raised its adjusted EPS projection to $7.28-$7.48. These projections consider various factors such as current global economic activity, soft global industrial production, continued economic uncertainty associated with geopolitical issues in Europe and higher interest rates in most developed countries.
The company expects performance coatings demand in Europe to stabilize at lower levels than the pre-conflict period in Ukraine while raw material and transportation normalize closer to pre-pandemic levels.
For Industrial coatings, PPG anticipates a low single-digit percentage decline in organic sales due to lower global industrial production, except for modest growth in China. Other industrial end-use markets are expected to be soft. However, selling price increases are likely to continue.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Other Key Picks
PPG currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 91% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 7.7% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.
Veritiv currently carries a Zacks Rank #2. The stock has rallied roughly 44.6% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.
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