• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Biocides Market Outlook - 2027

    Lab & Testing Equipment Directory

    Aerospace Coatings

    Resins Update

    Coatings World Q&A: Eileen Weber of allnex
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    Teknos Receives EcoVadis Gold Medal for Sustainability Performance

    AkzoNobel and Partners Team Up to Hack Carbon Reduction Challenges

    Five PPG Facilities in Ohio Recognized for Sustainability, Health, Safety Practices

    Award for Sustainability: Evonik Receives EcoVadis Platinum Rating Again

    HMG Paints Gets Their Running Shoes On
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    PPG Launches HOMAX TEX>>PRO Texture System by PPG

    New Digital Solution from Interpon Helps Customers Bring Colors to Life

    Benjamin Moore Receives Two J.D. Power Awards

    Jamestown Coating Technologies Acquires Yenkin-Majestic Industrial Paint Business

    New Appointment for AkzoNobel Industrial Coatings
    Additives
    Binders
    Pigments
    Solvents

    DIC’s Indian Subsidiary Begins Construction of Coating Resins Production Facility

    Celanese Declares Force Majeure on Acetyl Chain and Acetate Tow Products

    Perstorp Group to be Acquired by PETRONAS Chemicals Group

    Birla Carbon to Increase North American Prices

    OQ Chemicals Announces Price Increases for Oxo Intermediates in the Americas
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Clariant Additives

    Shepherd Color Company, The

    Siltech Corporation

    Pilot Chemical Company

    Active Minerals
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Utech Las Americas 2022

    CPCA Annual Conference

    PAINTINDIA 2022 Exhibition

    Southern Society for Coatings Technology Annual Meeting and Technical Conference

    UTECH Middle East/Africa Foam & Polyurethane Expo
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Clariant Additives

    Shepherd Color Company, The

    Siltech Corporation

    Pilot Chemical Company

    Active Minerals
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • India/Asia Pacific Report
      • China Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    PPG Gives Updates on Natural Disaster Impact, Third Quarter Financial Guidance

    ...

    PPG Gives Updates on Natural Disaster Impact, Third Quarter Financial Guidance
    Related CONTENT
    • PPG Executive Vice President Viktor Sekmakas Retires
    • PPG Highlights Technical Advances, Present Paper at Vehicle Display Symposium
    • PPG Completes $541M Sale of Remaining Fiberglass Operations to Nippon Electric Glass
    • PPG Reports Second Quarter 2017 Financial Results
    • PPG Completes COLORFUL COMMUNITIES Project in Switzerland at Rolle Castle Park
    09.25.17
    PPG on Monday provided an update on the impact of the recent natural disasters, as well as third-quarter financial guidance.  

    “We have all witnessed the devastation caused by the recent hurricanes that originated in the Atlantic Ocean and the earthquakes that occurred in Mexico,” said Michael McGarry, PPG chairman and CEO. “We have been closely monitoring the impacts on our employees in Texas, Florida and adjacent states, Mexico, Puerto Rico and other parts of the Caribbean. 

    "We will continue to support our employees and the impacted communities during the recovery and rebuilding efforts, including making contributions to the American Red Cross from the PPG Foundation," McGarry continued. "We are also matching PPG employee contributions and working directly with those employees who have experienced significant personal property damage or loss. 
     
    “PPG has a strong presence in all impacted areas, including more than 100 architectural coatings company-owned stores, approximately 1,600 concessionaire stores in Mexico, various distribution centers, manufacturing facilities and administrative offices. Some of our properties have sustained damage, and there will be a certain amount of inventory that will not be recoverable. Our teams are working to assess the full range of the damage, and we are working diligently to resume normal operations. More impactful to PPG has been the disruption of our supply chain, as certain key raw materials have been placed on force majeure or allocation and supply routes have been interrupted.
     
    “As a result, we anticipate that transitory impacts from these events will affect our third quarter diluted earnings-per-share by $0.05 to $0.10," McGarry said. "This includes increased transportation and logistics costs necessary to move raw materials and inventory to avoid PPG customer disruptions; overall higher costs of raw materials in short supply; facility and inventory damage net of any insurance recoveries; and the impact from lower sales in the affected areas. We are still in the process of finalizing the financial impact and will provide more information during our third quarter earnings conference call.  We currently expect that net impacts from these events to our fourth quarter financial results will be negligible or very modest."
     
    McGarry commenting more broadly on business trends for the third quarter said: “Excluding the unfavorable impacts from the hurricanes and the earthquakes, our third quarter volume growth rate is expected to be above 1.5 percent, exceeding our growth rate for the first half 2017. 

    "We had previously anticipated some moderation in raw material cost inflation in the third quarter," he continued. "However, high levels of inflation have persisted driven by the ongoing impacts from supplier outages in Europe and continued mandatory curtailments of raw material production in China. Accordingly, we expect our third quarter inflation rate will now match or possibly exceed the prior sequential quarter, exclusive of the hurricane impacts. We have secured modest, sequential selling price increases for the third and fourth quarters in a number of our businesses, including automotive refinish; automotive original equipment manufacturer (OEM) coatings; architectural coatings in U.S., Canada, Mexico and certain European countries; and protective and marine coatings. We continue to work with customers across all of our businesses and regions on additional pricing to offset the higher raw material costs."
     
    The company also on Monday announced that including the effects from the hurricanes and recent business trends, third quarter diluted earnings-per-share from continuing operations are expected to be in the range of $1.48 to $1.55. 

    PPG’s teleconference to discuss detailed third quarter 2017 financial results is scheduled for Thursday, Oct. 19, 2017.
    Related Searches
    • architectural coatings
    • red
    • coatings
    • china
    Suggested For You
    PPG Executive Vice President Viktor Sekmakas Retires PPG Executive Vice President Viktor Sekmakas Retires
    PPG Highlights Technical Advances, Present Paper at Vehicle Display Symposium PPG Highlights Technical Advances, Present Paper at Vehicle Display Symposium
    PPG Completes $541M Sale of Remaining Fiberglass Operations to Nippon Electric Glass PPG Completes $541M Sale of Remaining Fiberglass Operations to Nippon Electric Glass
     PPG Reports Second Quarter 2017 Financial Results PPG Reports Second Quarter 2017 Financial Results
    PPG Completes COLORFUL COMMUNITIES Project in Switzerland at Rolle Castle Park PPG Completes COLORFUL COMMUNITIES Project in Switzerland at Rolle Castle Park
    PPG  Makes Statement Regarding AkzoNobel PPG Makes Statement Regarding AkzoNobel
    PPG Earns Metal of Honor Supplier Recognition from Metal Roofing Magazine PPG Earns Metal of Honor Supplier Recognition from Metal Roofing Magazine
    PPG Issues Statement Regarding Proposal to Combine with AkzoNobel PPG Issues Statement Regarding Proposal to Combine with AkzoNobel
    AkzoNobel Confirms Focus on its own Strategy to Accelerate Growth and Value Creation AkzoNobel Confirms Focus on its own Strategy to Accelerate Growth and Value Creation
    PPG Announces Price Increase for Packaging Coatings PPG Announces Price Increase for Packaging Coatings
    PPG Submits Revised Proposal to AkzoNobel to Combine Companies PPG Submits Revised Proposal to AkzoNobel to Combine Companies
    PPG Issues Statement on AkzoNobel PPG Issues Statement on AkzoNobel
    PPG Reports First Quarter 2017 Financial Results PPG Reports First Quarter 2017 Financial Results
    PPG Honors Southern Auto Color and Tasco Auto Color with Platinum Distributor of the Year Award PPG Honors Southern Auto Color and Tasco Auto Color with Platinum Distributor of the Year Award
    PPG Issues Updated Statement on AkzoNobel PPG Issues Updated Statement on AkzoNobel

    Related Content

    • Breaking News | People in the News
      PPG Executive Vice President Viktor Sekmakas Retires

      PPG Executive Vice President Viktor Sekmakas Retires

      ...
      09.21.17

    • Breaking News
      PPG Highlights Technical Advances, Present Paper at Vehicle Display Symposium

      PPG Highlights Technical Advances, Present Paper at Vehicle Display Symposium

      Anti-fingerprint coatings among specialty technologies to be highlighted.
      09.15.17

    • Breaking News
      PPG Completes $541M Sale of Remaining Fiberglass Operations to Nippon Electric Glass

      PPG Completes $541M Sale of Remaining Fiberglass Operations to Nippon Electric Glass

      NEG acquired facilities and operations in N.C., S.C. and Pa.
      09.05.17


    • Breaking News | Financial News
       PPG Reports Second Quarter 2017 Financial Results

      PPG Reports Second Quarter 2017 Financial Results

      ...
      07.20.17

    • Breaking News | Paint & Coatings Manufacturer News
      PPG Completes COLORFUL COMMUNITIES Project in Switzerland at Rolle Castle Park

      PPG Completes COLORFUL COMMUNITIES Project in Switzerland at Rolle Castle Park

      ...
      07.07.17

      Breaking News
      • Teknos Receives EcoVadis Gold Medal for Sustainability Performance
      • AkzoNobel and Partners Team Up to Hack Carbon Reduction Challenges
      • Five PPG Facilities in Ohio Recognized for Sustainability, Health, Safety Practices
      • HMG Paints Gets Their Running Shoes On
      • Award for Sustainability: Evonik Receives EcoVadis Platinum Rating Again
      View Breaking News >
      CURRENT ISSUE

      May 2022

      • Biocides Market Outlook - 2027
      • Lab & Testing Equipment Directory
      • Aerospace Coatings Market

      Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
      You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

      • About Us
      • Privacy Policy
      • Terms And Conditions
      • Contact Us

      follow us

      Subscribe
      Nutraceuticals World

      Latest Breaking News From Nutraceuticals World

      Kyowa Hakko Appoints Dr. Colin Hill to Immuse Scientific Advisory Board
      Expert Consensus Statement: Diet is Best Primary Intervention to Achieve Diabetes Remission
      Choline Alone May Improve Maternal DHA Status During Pregnancy
      Coatings World

      Latest Breaking News From Coatings World

      Teknos Receives EcoVadis Gold Medal for Sustainability Performance
      AkzoNobel and Partners Team Up to Hack Carbon Reduction Challenges
      Five PPG Facilities in Ohio Recognized for Sustainability, Health, Safety Practices
      Medical Product Outsourcing

      Latest Breaking News From Medical Product Outsourcing

      VenoStent's SelfWrap Bioabsorbable Perivascular Wrap Earns Breakthrough Status
      Guard Medical Closes $11 Million Series B Investment
      OMNIVISION, Silicon Line Partner on Optical Fiber Endoscope Cables
      Contract Pharma

      Latest Breaking News From Contract Pharma

      Catalent Invests $175M to Expand Mfg. Capabilities at Winchester, KY
      Sartorius Expands Manufacturing Site in Tunisia
      BioMoti Partners with Pharma Company to Develop Ovarian Cancer Treatment
      Beauty Packaging

      Latest Breaking News From Beauty Packaging

      Garance Doré Launches Made in France Skincare Line
      The World’s Most Popular Perfumes & Celebrity Fragrances
      Ulta Beauty Launches Retail Media Network
      Happi

      Latest Breaking News From Happi

      Loum Beauty, Rare Beauty Launch #BeautyCares Voices
      ACI Urges Congress To Ensure Funding for EPA’s Office of Chemical Safety and Pollution Prevention
      Dr. Dana’s Nail Renewal System Relaunches Under Rare Beauty Brands
      Ink World

      Latest Breaking News From Ink World

      hubergroup Chemicals Exhibits at Paint India for First Time
      Award for Sustainability: Evonik Receives Platinum Rating Again
      Nazdar Ink Technologies to Showcase Latest Ink Innovations at FESPA Global Print Expo 2022
      Label & Narrow Web

      Latest Breaking News From Label & Narrow Web

      Dantex Group receives accreditation for Pico digital presses
      Heidelberg USA launches new Print Media Performance & Training Center
      Avery Dennison announces Global Supplier Award winners
      Nonwovens Industry

      Latest Breaking News From Nonwovens Industry

      'Right' Hygiene Conference to be Held in June
      Freudenberg to Present Battery Pack and Liquid Absorbers at Battery Show
      H&V Appoints Vice President and General Counsel
      Orthopedic Design & Technology

      Latest Breaking News From Orthopedic Design & Technology

      Paragon 28 Rolls Out TenoTac 2.0 Hammertoe and Soft Tissue Repair
      Cionic Expands Scientific Advisory Board
      First Surgeries Performed Using Globus Medical's Excelsius3D
      Printed Electronics Now

      Latest Breaking News From Printed Electronics Now

      NREL Creates Highest Efficiency 1-Sun Solar Cell
      eMagin Wins People’s Choice Award at Display Week 2022
      Wiliot Launches Battery-Assisted Version of its IoT Pixel Tags

      Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

      AD BLOCKER DETECTED

      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker.


      FREE SUBSCRIPTION Already a subscriber? Login