PPG Industries, Inc. (PPG), one of the leading companies in the paint & coatings industry, presented its Q2 results on July 16, impressing investors with surprisingly robust earnings and sales that easily topped analysts' consensus forecasts. It appeared that Wall Street was too bearish and factored in the impact from much more resilient headwinds in their top- and bottom-line estimates and overlooked a few positives, like robust recovery in China. The beat propped up short-lived price gains, which, unfortunately, were erased on the next day, as traders took profit and walked away.
Now,