PPG Industries Inc. PPG declared that it will introduce its newly reformulated Durastar Ultra-Cool silicone-modified polyester (SMP) coatings and showcase its flagship line of Duranar high-performance coatings during Metalcon 2016 to be held at the Baltimore Convention Center from Oct 26-28.
Durastar Ultra-Cool coatings are made to meet the increasing demand of the building industry. They combine new resin, crosslinking and tinting technologies developed by PPG for polyester coatings and unite them with Duranar coatings’ industry-leading pigment and primer systems. The coatings also have PPG’s proprietary infrared-reflective (IR-reflective) Ultra-Cool coatings technology, which deflects solar heat to help buildings stay cooler and use less energy.
PPG Industries will feature roof panels, siding panels and other architectural components coated with traditional and specialty Duranar coatings such as Duranar Ultra-Cool and color-shifting Duranar Vari-Cool coatings. PPG’s premier line of liquid coatings for coil, Duranar coatings are designed for metal roof and wall-panel applications that require high-end aesthetics and long-term weathering performance.
PPG Industries will also feature Duraform BP (building product) coatings. Duraform BP is formulated to provide a higher grade of coating quality to value-driven building product manufacturers, Duraform BP coatings feature PPG’s proprietary polyester polymer to enhance forming flexibility and increase resistance to fading, chalking, dirt and stains.
PPG Industries’ shares fell roughly 8.3% and closed at $93.73 on Oct 7.
Recently, PPG Industries provided its third-quarter 2016 outlook. The company said that it expects to post a loss from continuing operations of between 74 cents and 77 cents per share on a reported basis in third-quarter 2016 due to pension settlement charges of $2.31 per share. The company recorded earnings from continuing operations of $1.52 per share on a reported basis a year ago.
On an adjusted basis, the coatings giant anticipates earnings from continuing operations in the band of $1.54 to $1.57 per share for the third quarter, compared with $1.54 per share a year ago. Additionally, PPG Industries sees net sales of roughly $3.8 billion for the third quarter. PPG Industries will discuss third-quarter results in detail on Oct 20.
PPG Industries currently has a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked companies in the chemical space include Univar Inc. UNVR, The Chemours Company CC and Cabot Corp. CBT.
Univar has an expected earnings growth of 244.4% for the current year. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth of around 20.3% for the current year. The stock sports a Zacks Rank #1.
Cabot, currently carries a Zacks Rank #2 (Buy) and has an expected earnings growth of roughly 12.1% for the current year.
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