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PPG Industries Inc - Stock Quote PPG

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Morningstar's PPG Industries Inc Stock Analysis

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PPG Starts 2022 Strong, But Inflation and Supply Chain Disruptions Show No Signs of Slowing Down

Spencer Liberman Equity Analyst

Analyst Note

| Spencer Liberman |

Narrow-moat PPG’s first-quarter results were largely in line with our expectations, as lower volume was offset by higher selling prices. Raw material inflation and supply chain disruptions persist, with management estimating that supply chain issues negatively impacted sales by roughly $180 million (down from $150 last quarter). Despite this incremental growth, management expects  disruptions to moderate through 2022. Raw material inflation remains a concern as costs rose 25% year over year, while selling prices were up about 10%. We anticipate additional selling price increases as raw material inflation and supply chain constraints boost costs.

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PPG Industries Inc's Company Profile

Business Description

PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected Akzo Nobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.

One PPG Place
Pittsburgh, PA, 15272
T +1 412 434-3131
Sector Basic Materials
Industry Specialty Chemicals
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 49,300

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