PPG Industries Inc. PPG said Wednesday it is targeting annual adjusted per-share earnings growth of 8% to 12% through 2026, one of several goals the paint company outlined ahead of an investor day. Pittsburgh, Pa.-based PPG is targeting free cash flow of about $1 billion a year through 2026 and aims to achieve annual organic sales growth of 2% to 4%. Organic sales typically excludes any impact from currency. “Going forward, we will intentionally invest in focused growth opportunities that enhance our customers’ productivity and sustainability, elevate our customer relationships and expand PPG’s technology leadership positions in the coatings industry,” CEO Tim Knavish said in a statement. The company is also committed to returning cash to shareholders, including through increased annual dividends, he added. The company’s ESG goals include generating 50% of sales via sustainably advantaged products; achieving a 50% reduction in scope 1 and 2 GHG emissions relative to 2019 and a 30% reduction in scope 3 GHG emissions. The stock has gained 9% in the year to date, while the S&P 500 SPX has gained 8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
