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PPG Provides Retroreflective Powder Coating to Lyft E-Bikes

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PPG Industries, Inc. PPG announced that it would provide the world’s first commercial retroreflective powder coating to Lyft’s e-bikes. Lyft will use it on e-bikes in the company’s Divvy bike-share program, which is aimed to increase cyclist visibility. The partnership reflects the launch of retroreflective e-bikes in the United States.

PPG Envirocron Lum coating is a proprietary and patent-pending breakthrough technology, designed to reflect maximum light back to its source. While liquid-based retroreflective coatings are frequently used to boost the visibility of pavement markings and street signs, PPG Envirocron LUM coating is the first-ever retroreflective powder coating.

The pilot program of Lyft for its high-visibility e-bikes launched in the Bay Area in California in June 2021 and extended to Chicago, IL, in December. It debuted in New York City earlier this year.

PPG stated that it has been at the forefront of retroreflective powder coating technology for several years as part of its commitment to innovation and sustainability. It is proud to partner with Lyft in its efforts to produce high-visibility e-bikes as part of its shared commitment to enhance on-road safety, the company noted.

Shares of the company have declined 31.2% in the past year compared with an 8% decline of the industry.

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In its last earnings call, the company stated that it sees overall underlying demand for its products to remain strong, including sustained recovery in certain end-use markets. It also expects further volume growth in automotive refinish and aerospace coatings businesses in the coming quarters.

PPG Industries projects earnings per share (EPS) of between $1.44 and $1.74 for second-quarter 2022. Adjusted EPS is expected in the range of $1.60-$1.90, excluding amortization expenses of 14 cents and costs related to earlier approved and communicated business restructuring of 2 cents.

The company expects aggregate net sales volumes to be down a low-to-mid-single-digit percentage on a year-over-year basis in the second quarter.

PPG Industries, Inc. Price and Consensus

 

PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus

PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote

 

Zacks Rank & Key Picks

PPG Industries currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. ATI, Albemarle Corporation ALB and Cabot Corporation CBT.

Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.

Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 15.2% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Albemarle has a projected earnings growth rate of 175% for the current year. The Zacks Consensus Estimate for ALB’s current-year earnings has been revised 85.8% upward in the past 60 days.

Albemarle’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22.5%. ALB has gained 49.8% in a year. The company flaunts a Zacks Rank #1.

Cabot, currently carrying a Zacks Rank #2, has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.

Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 11.2% over a year.


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