$PPG (PPG Industries, Inc.)

$PPG {{ '2016-01-07T15:25:53+0000' | timeago}} • Announcement

Coatings company $PPG said it is increasing precipitated silica production capacity at its Lake Charles, Louisiana, manufacturing plant by more than 10,000 tons per year in response to growing demand. PPG is seen to achieve capacity rise through debottlenecking projects that are already underway and expected to come online in 2H16.

$PPG {{ '2017-09-21T20:17:31+0000' | timeago}} • Announcement

$PPG has named Tim Knavish as SVP of its Industrial Coatings division, effective October 1, replacing Shelley Bausch who has elected to leave the company. Knavish will also oversee the company’s Packaging Coatings and Coatings Services businesses. He will continue to report to Chairman and CEO Michael McGarry.

$PPG {{ '2017-09-21T19:20:51+0000' | timeago}} • Announcement

Paint manufacturer $PPG said EVP Viktor Sekmakas will be resigning on September 30, ending a 20-year-long career with the company. Sekmakas was named EVP of PPG in 2012. Since then, he has been a member of the executive committee.

$PPG {{ '2017-04-20T19:14:41+0000' | timeago}} • Webcast

From the restructuring actions announced last year, $PPG targets $40-50MM of savings in 2017. The company has captured 20% of the targeted savings in 1Q17 and expects that to gradually grow throughout the year to middle-to-upper end of targeted $40-50MM range.

$PPG {{ '2017-04-20T18:50:25+0000' | timeago}} • Webcast

With regards to the business activity, $PPG commented that all the surveys mentioned that economic optimism continued to go up since the U.S. election. The company added that the order book didn't reflect the economic optimism even though the demand was solid.

$PPG {{ '2017-04-20T14:40:40+0000' | timeago}} • Announcement

$PPG's cash and short-term investments totaled approximately $1.4Bil on March 31, 2017, up about $350MM y-o-y. At 1Q17 end, PPG has about $1.7Bil remaining under its current share-repurchase authorization. PPG reiterated its commitment to deploy at least $2.5-3.5Bil of cash on acquisitions, share repurchases in 2017 and 2018 combined.

$PPG {{ '2017-04-20T14:38:20+0000' | timeago}} • Announcement

"Looking ahead, we expect economic growth to remain modest, particularly in developed regions.,” CEO Michael McGarry said, while $PPG posted 1Q17 results. "Growth rates in emerging regions are expected to remain moderate, driven by increased consumer demand in Asia and broad-based expansion across Latin America, including in Brazil,” he added.

$PPG {{ '2017-04-20T14:36:33+0000' | timeago}} • Announcement

For 1Q17, selling prices for $PPG were flat. Unfavorable foreign currency translation impacted net sales by nearly 2%, or about $65MM. "Sales volumes continued to expand solidly in emerging regions, led by growth in Latin America and Asia,” CEO Michael McGarry said.

$PPG {{ '2017-04-20T14:34:16+0000' | timeago}} • Announcement

In 1Q17, $PPG posted an attributable net income of $334MM, up from $347MM. Diluted EPS was flat at $1.29. Net sales were about $3.6Bil, up 1%. During the quarter, the company repurchased about $165MM, or approximately 1.6MM shares of PPG stock.

$PPG {{ '2017-01-19T20:05:38+0000' | timeago}} • Webcast

$PPG stated that coatings volumes were higher than total company volumes in 2016. The company saw a recovery in volumes in Europe as well. This gives $PPG optimism that it will see improvement going into 2017.

$PPG {{ '2017-01-19T19:54:51+0000' | timeago}} • Webcast

$PPG said gross margins were down slightly in Industrial Coatings. Raw materials will have some pressure and margins are going to be challenged in the beginning of 2017 but the restructuring program will provide some benefit in 2H17.

$PPG {{ '2017-01-19T19:43:59+0000' | timeago}} • Webcast

$PPG expects its recent acquisitions to achieve full-year sales of about $270MM in 2017. The company realized about $90MM of sales in 2016 and hence expects an incremental $180MM in sales from the acquisitions in 2017. For 2017, $PPG expects  YoverY currency translation will negatively impact sales by $375-425MM.

$PPG {{ '2017-01-19T19:24:31+0000' | timeago}} • Webcast

In Architectural Coatings, $PPG’s sales volumes grew in Europe during 4Q16, with strength in the UK, Ireland and Benelux countries, but was offset by declines in Africa where many economies are closely linked to the depressed commodity prices. Sales volumes improved in the Americas and Asia-Pacific.

$PPG {{ '2017-01-19T19:15:37+0000' | timeago}} • Webcast

$PPG's CFO Frank Sklarsky has announced his retirement effective March 1. The BoD has elected Vincent Morales to succeed him as SVP and CFO, effective March 1.

$PPG {{ '2017-01-19T13:17:20+0000' | timeago}} • Infographic

$PPG PPG Industries Earnings AlphaGraphics: Q4 and FY16 Highlights

$PPG {{ '2017-01-19T12:35:55+0000' | timeago}} • Announcement

In 4Q16, $PPG’s net sales in the Performance Coatings segment were $1.98Bil, down less than 4% versus the prior year.  Industrial Coatings net sales were $1.44Bil, up nearly 5%, despite unfavorable FX translation of more than 2%. Glass segment net sales were $80MM, down 34%, primarily due to the European fiber glass business divestiture.

$PPG {{ '2017-01-19T12:30:49+0000' | timeago}} • Announcement

Coatings and specialty materials company $PPG reported an increase in 4Q16 earnings. Net income was $344MM or $1.30 per share in 4Q16 compared to $314MM or $1.16 per share in 4Q15. Net sales of $3.5Bil was down more than 1% versus the prior year.

$PPG {{ '2016-10-21T10:23:11+0000' | timeago}} • Webcast

Looking ahead to 4Q16, $PPG does not see any near term evidence of improvement in demand. In order to sail through the tough period, it is planning to reduce operating and functional costs through various restructuring actions. "We're still vetting these potential actions and will provide an update, once we're finalized," CEO Michael McGarry said.

$PPG {{ '2016-10-21T10:18:05+0000' | timeago}} • Webcast

$PPG expects to deploy at least $650MM to fund acquisitions and share repurchases in 4Q16 as it aims to reach the top-end its cash deployment target range of $2-$2.5Bil in the combined 2015-2016 calendar years. The company has deployed $1.5Bil toward the target to date.

$PPG {{ '2016-10-20T14:31:49+0000' | timeago}} • Announcement

$PPG said its largest Performance Coatings segment net sales fell by $17MM to $2.22Bil in 3Q16. Industrial Coatings segment net sales for the third quarter were $1.44Bil, up $83MM.

$PPG {{ '2016-10-20T14:23:49+0000' | timeago}} • Announcement

$PPG reported a 3Q16 loss from continuing operations of $201MM, or 0.75 cents per share, compared with earnings of $415MM or $1.52 per share a year ago. For the quarter, the company took pension settlement-related charges of $968MM. Net sales rose 2% to $3.8Bil.

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