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PPG Extends Partnership With The Home Depot and HD Supply
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PPG Industries, Inc. (PPG - Free Report) announced the extension of its partnership with The Home Depot and HD Supply to provide a wide range of professional PPG paint products and services geared exclusively for professional customers.
The new product portfolio will be available in all U.S. Home Depot stores. It had already started being accessible in stores in the fourth quarter of 2021.
The extended relationship will leverage PPG’s best-selling sub-brands nationally, including PPG Speedhide Interior, PPG Break-Through!, PPG Multi-Pro, PPG Speedhide Pro-EV Zero, PPG Perma-Crete concrete paint and stain, PPG Permanizer exterior paint, PPG Pitt-Glaze Wb1 Epoxy and PPG Speedhide Maxprime interior primer/sealer. The company’s Copper Armor antimicrobial paint powered by Corning Guardiant technology will also be available.
The entire product range will be accessible through HD Supply, a fully-owned subsidiary of The Home Depot and a leading national distributor of maintenance, repair and operations products.
The Home Depot and HD Supply customers will leverage PPG’s industry-leading expertise and product knowledge of more than 135 years, a network of knowledgeable sales representatives, same or next-day delivery, free professional color rendering services, easy-to-use color tools and more.
The Home Depot will also store localized specialty assortments based on the needs of certain segments and specifications and will continue to carry PPG’s Glidden Premium, Glidden Diamond and Glidden Essentials. The Home Depot also stocks other well-known PPG specialty products under the Liquid Nails adhesives, Olympic stain and Homax specialty products.
Shares of the company have gained 14.7% in the past year compared with a 7.9% rise of the industry.
Image Source: Zacks Investment Research
The company, in its last earnings call, stated that it expects ongoing supply chain disruptions to continue throughout the fourth quarter, with potential additional impacts from the recent industrial production curtailments in China. It forecasts these disruptions to ease modestly in overall quantity and magnitude as the quarter progresses.
PPG Industries will continue to prioritize selling price hikes. The company expects price realization to offset raw material cost inflation in early 2022. Moreover, the recovery of the automotive original equipment manufacturer (OEM), aerospace, and automotive refinish coatings businesses will be a key catalyst for growth in 2022. It will continue to manage all aspects of its cost structure, the company noted.
PPG Industries also expects net sales volumes to be down 8-10% year over year in the fourth quarter. The company also sees adjusted earnings for the full year to be $6.67-$6.73 per share.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation (ALB - Free Report) , Commercial Metals Company (CMC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 49.8% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 28.1% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 60.7% in a year.
AdvanSix has a projected earnings growth rate of 3.9% for the current year. The Zacks Consensus Estimate for ASIX’s earnings for the current year has been revised 1.6% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 102.6% in a year. It currently carries a Zacks Rank #2 (Buy).
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PPG Extends Partnership With The Home Depot and HD Supply
PPG Industries, Inc. (PPG - Free Report) announced the extension of its partnership with The Home Depot and HD Supply to provide a wide range of professional PPG paint products and services geared exclusively for professional customers.
The new product portfolio will be available in all U.S. Home Depot stores. It had already started being accessible in stores in the fourth quarter of 2021.
The extended relationship will leverage PPG’s best-selling sub-brands nationally, including PPG Speedhide Interior, PPG Break-Through!, PPG Multi-Pro, PPG Speedhide Pro-EV Zero, PPG Perma-Crete concrete paint and stain, PPG Permanizer exterior paint, PPG Pitt-Glaze Wb1 Epoxy and PPG Speedhide Maxprime interior primer/sealer. The company’s Copper Armor antimicrobial paint powered by Corning Guardiant technology will also be available.
The entire product range will be accessible through HD Supply, a fully-owned subsidiary of The Home Depot and a leading national distributor of maintenance, repair and operations products.
The Home Depot and HD Supply customers will leverage PPG’s industry-leading expertise and product knowledge of more than 135 years, a network of knowledgeable sales representatives, same or next-day delivery, free professional color rendering services, easy-to-use color tools and more.
The Home Depot will also store localized specialty assortments based on the needs of certain segments and specifications and will continue to carry PPG’s Glidden Premium, Glidden Diamond and Glidden Essentials. The Home Depot also stocks other well-known PPG specialty products under the Liquid Nails adhesives, Olympic stain and Homax specialty products.
Shares of the company have gained 14.7% in the past year compared with a 7.9% rise of the industry.
The company, in its last earnings call, stated that it expects ongoing supply chain disruptions to continue throughout the fourth quarter, with potential additional impacts from the recent industrial production curtailments in China. It forecasts these disruptions to ease modestly in overall quantity and magnitude as the quarter progresses.
PPG Industries will continue to prioritize selling price hikes. The company expects price realization to offset raw material cost inflation in early 2022. Moreover, the recovery of the automotive original equipment manufacturer (OEM), aerospace, and automotive refinish coatings businesses will be a key catalyst for growth in 2022. It will continue to manage all aspects of its cost structure, the company noted.
PPG Industries also expects net sales volumes to be down 8-10% year over year in the fourth quarter. The company also sees adjusted earnings for the full year to be $6.67-$6.73 per share.
Zacks Rank & Key Picks
PPG Industries currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation (ALB - Free Report) , Commercial Metals Company (CMC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 49.8% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 28.1% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 60.7% in a year.
AdvanSix has a projected earnings growth rate of 3.9% for the current year. The Zacks Consensus Estimate for ASIX’s earnings for the current year has been revised 1.6% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 102.6% in a year. It currently carries a Zacks Rank #2 (Buy).