PPG's Glidden Grabs Limelight as Walmart's Main Paint Brand
PPG Industries, Inc. PPG has announced that Walmart will now feature Glidden paint by PPG as its primary paint brand. This multiyear deal greatly extends the company’s existing association with Walmart, allowing customers access to a well-established, high-quality and user-friendly do-it-yourself (DIY) paint and stain range.
The Glidden products made available at Walmart are designed to have low odor and low VOC emissions. Additionally, several items within the range have been awarded GREENGUARD Gold certification, which shows PPG’s commitment to promoting cleaner and safer air quality.
The company stated that the new product range will provide customers with more choices and flexibility, resulting in an exceptional shopping experience for those who seek paint and woodcare products at Walmart.
Walmart customers across more than 3,800 stores in the United States can now explore an expanded selection of Glidden GRAB-N-GO ready-to-use paint options, starting this month. These products come in 25 popular colors that are pre-mixed and readily available. For those who desire greater customization, a carefully curated palette of 132 in-demand colors from Glidden paint can also be tinted according to the shopper's preference, using the Glidden product of their choice. This allows customers to get the precise amount of the most exclusive colors for both interior and exterior paint in both pre-mixed and customizable options.
Glidden provides a wide selection of products offered across different price ranges, which includes Glidden One Coat, Glidden High Endurance Plus, Glidden Spread, Glidden Fundamentals, and Glidden Quick Cover.
Shares of PPG have gained 3.6% against a 5.6% fall recorded by its industry.
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The company recently announced adjusted EPS guidance in the band of $1.52-$1.58 for the first quarter. It also witnessed an increased pace of recovery in its operating margin during the first quarter, which is attributed to higher sales volumes and improved selling prices. The company's sales volume exceeded its guidance, with significant contributions from its aerospace and automotive original equipment manufacturer coatings businesses. PPG Industries also reported higher earnings in most of its business portfolio, including Europe, than the previous year.
The company reported a higher-than-anticipated demand in PPG Comex and U.S. architectural coatings, which was attributed to a recent customer win that contributed to its quarterly performance. Additionally, sales volumes in China surpassed initial projections due to fewer disruptions caused by the pandemic.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote
Zacks Rank & Other Key Picks
PPG Industries currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are Olympic Steel, Inc. ZEUS, Steel Dynamics, Inc. STLD and Linde plc LIN. LIN currently carries a Zacks Rank #2, while ZEUS and STLD sport a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olympic Steel’s shares have gained 35.6% in the past year. The Zacks Consensus Estimate for ZEUS’ current-year earnings has been revised 33.1% upward in the past 60 days. It topped the Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
Steel Dynamic’s shares have gained 23.4% in the past year. The Zacks Consensus Estimate for STLD’s current-year earnings has been revised 31% upward in the past 60 days. It topped the Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 11.3% on average.
Linde’s shares have gained 11.8% in the past year. The company has an expected earnings growth rate of 8.1% for the current year. The Zacks Consensus Estimate for LIN’s current-year earnings has been revised 2.5% upward in the past 60 days.
LIN topped the Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 6% on average.
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