PPG Industries, Inc.PPG and SiNode Systems have teamed up to accelerate the commercialization of high-energy anode materials for advanced battery applications in electric vehicles.
The two-and-a-half year project will allow the partners to rapidly develop anode materials, which will store more energy than traditional lithium-ion battery materials. This will enable electric vehicles to have a lighter-weight battery and travel greater distance on a single charge.
PPG Industries' present goal is to derive 40% of its total sales from sustainable products by 2020. Notably, the company has already met the initial 30% of its sales target in 2015, five years ahead of schedule.
According to PPG Industries, SiNode's technology has great potential to benefit the battery market. Reducing the weight of electric vehicles and boosting the range through batteries that store more energy will increase consumer interest and practicality of cars. PPG Industries' latest collaboration is in line with its strategic goal of improving the sustainability of products, such as electric vehicles, by applying the company's technology.
PPG Industries' shares have moved up 8.2% in the past six months underperforming the industry 's 16.5% growth.
PPG Industries reported net earnings from continuing operations of $1.52 per share for the third quarter of 2017, as against the year-ago net loss from continuing operations of 79 cents. The results were in line with the Zacks Consensus Estimate.
PPG Industries expects continued moderate global economic growth. Post the mayhem caused by the recent natural disasters, the company doesn't anticipate any further decline in the level of raw material cost inflation for the balance of this year.
The company also sees an additional selling price increase. Along with addressing the inflationary environment, it remains on track with its restructuring program which is expected to deliver full-year savings of more than $45 million.
PPG Industries expects the recent natural disasters to unfavorably impact fourth-quarter earnings by up to 5 cents per share.
PPG Industries, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
PPG Industries currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are ArcelorMittal MT , Westlake Chemical Corporation WLK and Kronos Worldwide Inc. KRO . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 stocks here .
ArcelorMittal has an expected long-term earnings growth rate of 11.3%. Its shares have moved up 28.2% year to date.
Westlake Chemical has an expected long-term earnings growth rate of 10.4%. Its shares have rallied 65.5% year to date.
Kronos Worldwide has an expected long-term earnings growth rate of 5%. Its shares have surged a whopping 129.4% year to date.
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