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PPG Industries Inc. PPG has entered into a strategic deal with flooring industry leader Shaw Industries Group, Inc. to offer the PPG Flooring range of resinous flooring products. Shaw’s customers in the commercial property market will be able to purchase the products under the Patcraft brand. The partnership expands PPG’s market reach while adding to Shaw’s extensive line of flooring and surface solutions.
Resinous flooring is popular for its durability, versatility and aesthetic appeal, especially in institutional, industrial and office settings. The wide PPG Flooring portfolio offers chemical and abrasion protection for concrete floors, assuring long-term performance.
As a customer-centric company, Shaw is committed to providing excellent experiences by offering clients a comprehensive range of flooring solutions. PPG, a prominent player in the chemical space along with Eastman Chemical Company EMN, LyondellBasell Industries N.V. LYB and Air Products and Chemicals, Inc. APD, is an ideal partner for the Patcraft brand because of its extensive experience in resinous coatings and commitment to innovation. Patcraft focuses on providing customers with solutions that meet the needs of high-performance situations. Shaw’s position as a leading flooring provider with a large client reach offers PPG better market access. This collaboration marks an important milestone for both companies.
PPG expects adjusted earnings per share (EPS) for the third quarter in the range of $2.10-$2.20. For the full year, the company expects adjusted EPS in the band of $8.15 to $8.30. These projections consider various factors such as current global economic activity, uneven global industrial production, reduced global automotive production, stabilizing demand in Europe, sustained growth in Mexico and India and low single-digit growth in China.
Another prominent chemical maker, Eastman Chemical, expects EPS for 2024 to be between $7.40 and $7.85. Furthermore, EMN expects to deliver around $1.4 billion in operating cash flow in 2024.
LyondellBasell anticipates margins to gain in the third quarter from the lower costs of natural gas and natural gas liquids used in its North American and Middle Eastern production against higher oil-based expenses in most other locations.
Air Products, on its fiscal third-quarter call, maintained its fiscal 2024 full-year adjusted EPS projection of $12.20 to $12.50, suggesting a 6-9% increase from the previous year. The company’s adjusted EPS guidance for the fiscal fourth quarter is $3.33-$3.63. Air Products expects $5 billion to $5.5 billion in capital expenditures for fiscal 2024.
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