PPG to raise industrial coatings prices by 10% because of 'unprecedented' cost pressures [MarketWatch]
PPG Industries, Inc. (PPG)
Last ppg industries, inc. earnings: 4/27 04:20 pm
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Source: MarketWatch
PPG to raise industrial coatings prices by 10% because of 'unprecedented' cost pressures PPG Industries Inc. PPG, +0.39% said Monday it will raise prices on all of its industrial coatings products by 10%, effective Jan. 1 as permissible by contract. The company cited "unprecedented cost pressures" in raw materials, freight, energy and labor for the price increases. The stock rose 1% in morning trade. In the third quarter, the company said U.S. and Canada sales represented 43% of total revenue, Asia-Pacific sales represented 17%, Europe, Middle East and Africa represented 30% and Latin America accounted for 10%. "We continue to be diligent in offsetting costs and exercising cost-control measures across our supply chain to increase efficiency," said Tim Knavish, senior vice president of industrial coatings. "Despite these efforts, we must modify our pricing to ensure that we can continue to deliver exceptional technical support and solutions to our customers." The stock has shed 5.6%
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PPG
Earnings
- 4/18/24 - In-Line
PPG
Sec Filings
- 4/23/24 - Form 8-K
- 4/22/24 - Form 8-K
- 4/19/24 - Form 10-Q
- PPG's page on the SEC website