What they haven't made clear in this current announcement (although they did mention it somewhere else) is that the rigid business is lapping the COVID spike so expect its revenue and profit to be well below prior year.
I think that the flexibles business is actually offsetting together with the industrials business the overall drop in profits. Remembering that the industrials business is coming off a really low base profit wise!
What's more as pricing increases hot the market this creates the impetus that may have customers decide to explore other supply options. this does not necessarily mean they will loose customers as PPG are not the only ones experiencing these cost issues but there may be some losses.
PPG Price at posting:
19.5¢ Sentiment: None Disclosure: Not Held
