PPG Industries’ Shares Up 5% on Updated Guidance Announcement  
<p><a href='https://financialmodelingprep.com/financial-summary/PPG'>PPG Industries (NYSE:PPG)</a> announced this morning that it expects Q1/23 adjusted EPS to be in the range of $1.52-$1.58, exceeding previous guidance of $1.10-$1.20. As a result, shares surged nearly 5% yesterday.</p>
<p>Margin recovery accelerated in Q1, driven by higher sales volumes and additional selling price capture, led by aerospace and automotive OEM coatings businesses. The company noted higher year-over-year earnings were seen across most of the portfolio, including Europe, and volumes were better in China due to fewer pandemic disruptions than originally expected. </p>
<p>Analysts at RBC Capital raised their 2023/2024 estimates following the updated guidance and raised their price target to $143 from $133, while maintaining their Sector Perform rating.</p>

NYSE:PPG