PPG Is Poised to Widen Margins as Price Hikes Offset Input Cost Inflation in the Coming Years
Coatings companies had a challenging 2018, chasing higher costs with price increases over the last year. PPG was no exception. Operating income fell by 7.3% from the prior year, on a 1% sales decline largely driven by a stronger dollar. Although PPG is successfully passing on price increases, they've come at a slower pace than costs inflation, which is pressuring margins. While we maintain the view that PPG will make up ground on pricing as cost pressures ease, we've trimmed our margin expectati...PPG Industries manufactures and distributes a range of paints, coatings and specialty materials. The company's business is comprised of two reportable business segments: Performance Coatings, which primarily supplies a variety of protective and decorative coatings, sealants and finishes along with paint strippers, stains and related chemicals, as well as transparencies and transparent armor; and Industrial Coatings, which primarily supplies a variety of protective and decorative coatings and finishes along with adhesives, sealants, metal pretreatment products, optical monomers and coatings, precipitated silicas and other specialty materials.
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