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PPG Unveils Speedhide Max Paint, Expands Speedhide Paint Line
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PPG Industries, Inc. (PPG - Free Report) has expanded its Speedhide professional paint line with the introduction of Speedhide Max paint. This zero Volatile Organic Compound (VOC) product has received Master Painters Institute ("MPI") certification for high-performance durability for professional painters and their clients.
Speedhide Max paint is available in three sheens: eggshell, satin and lo lustre, and it is competitively priced for professional paint buyers looking for high performance at a low cost. This month, it will be available at PPG Paints stores and through the PPG Paints app, which allows users to place orders at any time and from any location.
PPG is also expanding its existing Speedhide zero VOC line with three additional sheen options: Ultra Flat, Low-Sheen Eggshell and Lo Lustre. This addition brings the number of sheen offerings to seven, making it the most diverse range of sheens available in the United States for a product of its kind. This spring, the label will also undergo a redesign.
PPG is growing its product line to satisfy the demands of consumers seeking MPI-certified performance while simultaneously making sure that consumers of Speedhide products can still access legacy products. PPG now offers one of the industry's most comprehensive portfolios for commercial interiors owing to these updates.
Shares of PPG have gained 6% over the past year compared with a 23.5% rise of its industry.
Image Source: Zacks Investment Research
For the first quarter of 2024, the company anticipates an adjusted EPS in the band of $1.80-$1.87. For full-year 2024, the company foresees its adjusted EPS to be in the range of $8.34-$8.59.
The effective tax rate for the first quarter is projected to be between 24% and 25%, implying an increase from the previous year’s figure. This uptick is attributed to various factors, including the impact of heightened regional tax rates and the anticipated distribution of country-specific earnings.
Better-ranked stocks in the basic materials space include United States Steel Corporation (X - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Alpha Metallurgical Resources Inc. (AMR - Free Report) .
United States Steel carrying a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 59.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 27.1% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #1. AMR delivered a trailing four-quarter earnings surprise of roughly 24.8%, on average. AMR shares are up around 105.5% in a year.
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PPG Unveils Speedhide Max Paint, Expands Speedhide Paint Line
PPG Industries, Inc. (PPG - Free Report) has expanded its Speedhide professional paint line with the introduction of Speedhide Max paint. This zero Volatile Organic Compound (VOC) product has received Master Painters Institute ("MPI") certification for high-performance durability for professional painters and their clients.
Speedhide Max paint is available in three sheens: eggshell, satin and lo lustre, and it is competitively priced for professional paint buyers looking for high performance at a low cost. This month, it will be available at PPG Paints stores and through the PPG Paints app, which allows users to place orders at any time and from any location.
PPG is also expanding its existing Speedhide zero VOC line with three additional sheen options: Ultra Flat, Low-Sheen Eggshell and Lo Lustre. This addition brings the number of sheen offerings to seven, making it the most diverse range of sheens available in the United States for a product of its kind. This spring, the label will also undergo a redesign.
PPG is growing its product line to satisfy the demands of consumers seeking MPI-certified performance while simultaneously making sure that consumers of Speedhide products can still access legacy products. PPG now offers one of the industry's most comprehensive portfolios for commercial interiors owing to these updates.
Shares of PPG have gained 6% over the past year compared with a 23.5% rise of its industry.
Image Source: Zacks Investment Research
For the first quarter of 2024, the company anticipates an adjusted EPS in the band of $1.80-$1.87. For full-year 2024, the company foresees its adjusted EPS to be in the range of $8.34-$8.59.
The effective tax rate for the first quarter is projected to be between 24% and 25%, implying an increase from the previous year’s figure. This uptick is attributed to various factors, including the impact of heightened regional tax rates and the anticipated distribution of country-specific earnings.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Key Picks
PPG currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include United States Steel Corporation (X - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Alpha Metallurgical Resources Inc. (AMR - Free Report) .
United States Steel carrying a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 59.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 27.1% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently carries a Zacks Rank #1. AMR delivered a trailing four-quarter earnings surprise of roughly 24.8%, on average. AMR shares are up around 105.5% in a year.