PPG: targets raised for Q3
(CercleFinance.com) - PPG, the chemist specialised in paints, has announced that its July sales exceeded its initial expectations, leading it to raise its sales volume estimates for its third quarter of 2020.
As a result, the Pittsburgh-based group now anticipates a 6%-11% decline in sales for the current quarter, excluding FX factors, compared to the same period in 2019, against a previously expected contraction of 8%-15%.
Combined with cost management, that provides better operating leverage, this higher sales forecast means that PPG now expects its operating margin to decline by 10% to 15%, following a decline of around 25% in Q2.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
As a result, the Pittsburgh-based group now anticipates a 6%-11% decline in sales for the current quarter, excluding FX factors, compared to the same period in 2019, against a previously expected contraction of 8%-15%.
Combined with cost management, that provides better operating leverage, this higher sales forecast means that PPG now expects its operating margin to decline by 10% to 15%, following a decline of around 25% in Q2.
Copyright (c) 2020 CercleFinance.com. All rights reserved.