PPG Industries Inc.
) announced that the Mutual of Omaha Regional Office in Miami,
which is now known as Colonnade Plaza, is the first ever building
to install the company's SOLARBAN glass. SOLARBAN glass is one of
the first coated glasses designed in to block solar radiation and
thus mitigate air-conditioning-related energy consumption.
SOLARBAN is a brand which includes a broad range of
high-performance solar control, low-emissivity glasses, some of
which also include PPG's proprietary triple-silver coating
technology. PPG Industries' technology enables architects to design
and build more sustainable buildings through their ability to
transmit daylight and block solar heat, thereby reducing heating,
cooling and lighting demands.
The architect who designed the eight-story Omaha Regional Office in
Miami incorporated the elements in such a way that those when
combined with the SOLARBAN glass will minimize solar heat gain in
south Florida's plentiful sunshine, thus saving energy and
enhancing occupant comfort.
PPG Industries released its second-quarter 2014 results last
month. The company topped earnings expectations in the quarter on
healthy results across major markets, notably Europe where earnings
jumped 28%. Cost reduction measures and strength in the automotive
OEM coatings market supported results.
Profit from continued operation (as reported) was $393 million
or $2.80 per share in the second quarter, climbing roughly 24% from
$318 million or $2.19 per share posted a year ago. Consolidated
profit rose 13% year over year to $386 million or $2.75 per share.
The improvement was led by strong performance in Europe as PPG
gained from gradual economic recovery in the region.
Barring one-time items, the company raked in earnings from
continuing operations of $2.83 a share in the quarter that topped
the Zacks Consensus Estimate of $2.79. Revenues moved up 5% year
over year to $4,082 million in the reported quarter. It fell short
of the Zacks Consensus Estimate of $4,097 million. The company
benefited from higher volumes across major regions in the
PPG Industries is a Zacks Rank #3 (Hold) stock.
Better-ranked companies in the diversified chemical space
include Celanese Corporation (
), Johnson Matthey Plc. (
) and LyondellBasell Industries NV (
). All of them hold a Zacks Rank #2 (Buy).
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