PPG Expects FY24 Organic Sales Growth To Be Up Low Single Digits; Continues To See Adjusted EPS $8.34-$8.59, Est $8.48
Portfolio Pulse from Benzinga Newsdesk
PPG Industries forecasts FY24 organic sales growth in the low single digits and maintains its adjusted EPS guidance at $8.34-$8.59, aligning with an estimate of $8.48. The company anticipates low single-digit sales volume growth in Q2, driven by its aerospace, protective and marine, and packaging coatings businesses, particularly in Mexico, China, and India.
April 18, 2024 | 8:14 pm
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PPG Industries maintains its FY24 adjusted EPS forecast at $8.34-$8.59, in line with estimates, and expects low single-digit organic sales growth, driven by key business segments and growth in Mexico, China, and India.
PPG's reaffirmation of its EPS guidance and the anticipation of sales growth, especially in strategic business units and emerging markets, is likely to instill confidence among investors. The specific mention of growth drivers such as aerospace, protective and marine, and packaging coatings businesses, along with geographic growth in Mexico, China, and India, highlights areas of strength. This detailed guidance can be seen as a positive signal for the company's outlook, potentially leading to a positive short-term impact on its stock price.
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