Newest shade pays homage to the legendary British racing greenPHILADELPHIA, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, today announced its 2025 Global Automotive Color of the Year – Evergreen Sprint. This marks the 11th year Axalta has introduced its automotive color of the year and the second time it has featured a green shade. Evergreen Sprint is a rich, deep forest green that pays homage to the legendary British racing green, a shade that ha ...

PHILADELPHIA, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE:AXTA), a leading global coatings company, today announced its 2025 Global Automotive Color of the Year – Evergreen Sprint. This marks the 11th year Axalta has introduced its automotive color of the year and the second time it has featured a green shade. Evergreen Sprint is a rich, deep forest green that pays homage to the legendary British racing green, a shade that has graced the finest racing machines and symbolizes speed and pe ...

PHILADELPHIA, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Axalta (NYSE: AXTA), a leading global coatings company, has won a 2024 R&D 100 Award in the Mechanical and Materials category. Axalta’s Primerless Consolidated Coating System is used in a streamlined, consolidated automotive paint process that delivers superior color capability, especially for glamorous and difficult to create colors. The coating system, together with this consolidated process, provides sustainability and productivity to automotive paint shops ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, the task of finding cutting-edge growth stocks is made easy ...

Investors interested in Chemical - Specialty stocks are likely familiar with Axalta Coating Systems (AXTA) and Hawkins (HWKN) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our ...

PHILADELPHIA, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Axalta (NYSE: AXTA), a leading global coatings company, has announced that Chris Villavarayan, CEO and President, and Rakesh Sachdev, chair of the board, will commemorate 10 years as a publicly traded company by ringing the opening bell at the New York Stock Exchange (NYSE) on Nov. 18, 2024. Axalta’s senior leadership team and employees from the Philadelphia area will also participate in this highly respected and time-honored tradition. “Ringing the bell at th ...

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Axalta Coating Systems (AXTA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.Axalta Coating Systems is one of 235 individual stocks in t ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, it's pretty easy to find cutting-edge growth stocks with the he ...

Investors looking for stocks in the Chemical - Specialty sector might want to consider either Axalta Coating Systems (AXTA) or Novozymes A/S (NVZMY) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasi ...

Financial Data and Key Metrics - Net sales increased to $1.32 billion, marking the 15th consecutive quarter of year-over-year growth [9] - Adjusted EBITDA increased by $30 million year-over-year to a record $291 million, with a margin of 22%, up 220 basis points [10][11] - Full-year 2024 adjusted EBITDA is expected to exceed $1.1 billion, with adjusted diluted EPS and free cash flow also revised upward [18] - Gross margins improved to 35%, up 270 basis points, driven by lower variable costs and strong cost management [28] - Adjusted diluted earnings per share increased 31% to $0.59 [32] Business Line Performance - Refinish business net sales grew 5% year-over-year, with 15 consecutive quarters of growth [19] - Performance coatings net sales increased 2% to $877 million, driven by recent acquisitions [33] - Industrial net sales declined 1% to $323 million, in line with industry trends [34] - Mobility coatings net sales decreased 2% to $443 million, with light vehicle sales flat despite a 5% decline in build rates [35] - Commercial vehicle net sales declined 8%, consistent with industry forecasts [37] Market Performance - China and LATAM strategies diversified the customer base, with China outperforming the market by 20% [22] - LATAM growth is expected to contribute over $50 million in revenue by 2026 [52] - North America and Europe showed mixed performance, with North America softening and Europe remaining stable [80] Strategic Direction and Industry Competition - The company is focused on the 2026 A Plan, aiming for growth and margin expansion [12][25] - Recent innovations include Axalta Nimbus and Axalta IRUS Scan, enhancing efficiency and productivity in body shops [14] - The company is expanding its position in the premium and economy segments of the refinish market [20][21] - New business wins in light vehicle and commercial vehicle segments are expected to drive growth in 2025 [13][24] Management Commentary on Operating Environment and Future Outlook - Management expects macroeconomic trends to remain soft in the first half of 2025 but believes the company will continue to outperform in refinish and light vehicle [45] - The transformation initiative is expected to deliver $30-$40 million in incremental benefits in 2025 [46] - Interest rate reductions could lower interest expenses, as nearly 50% of the company's debt is floating rate [46] Other Important Information - The company ended the quarter with $1.2 billion in total liquidity, including $567 million in cash [39] - Net leverage was 2.7x, with a target of 2.5x by year-end [39] - $50 million of shares were repurchased in Q3, bringing the total repurchases under the $700 million program to $100 million [40] - Capital expenditures for Q3 were $33 million, with year-to-date CapEx at $78 million [41] Q&A Session Summary Question: Margin outlook for 2025 and beyond [48] - The company has already achieved its 2026 A Plan margin target of 21% and is focusing on pivoting towards growth [49][50] - Productivity initiatives and supply chain improvements are expected to further enhance margins [51] Question: Growth contribution from new auto OEM wins [52] - Growth is expected primarily in China and LATAM, with LATAM contributing over $50 million by 2026 [52] Question: Volume trends and body shop activity [53][55] - Volumes were down due to distributor consolidation and destocking, but growth is expected to offset softness in Q4 [53][54] - Body shop activity is stable to softening, with regional variations [80] Question: IRUS rollout and refinish market strategy [57][58] - The IRUS rollout is progressing well, with plans to triple the number of units deployed in 2025 [58] - The company is focusing on both premium and economy segments, with recent acquisitions strengthening the economy segment [82] Question: Price mix and raw material trends [63][64] - Price mix was flat in performance coatings, with refinish pricing holding up well [64] - Raw material costs are expected to flatten in Q4 2024, with normal inflation of 2%-3% expected in 2025 [65] Question: Share gains and competitive dynamics [69][70] - Share gains in LATAM and China are driving growth, with LATAM contributing $50-$60 million by 2025 [70] - The company is well-positioned to continue winning new business in China due to strong execution and capacity expansion [71] Question: 2026 A Plan acceleration and capital deployment [75][76] - The company is ahead of schedule on most A Plan metrics and is considering accelerating the plan [75] - Capital deployment will be balanced between M&A, share repurchases, and growth investments [77][78] Question: Interest expense and tax rate outlook [84][85] - Interest expense is expected to be below $200 million in 2025, with potential for further reductions [84] - The company is working on initiatives to lower the tax rate, which could benefit EPS growth [85] Question: Q4 guidance and margin upside in mobility [89][92] - Q4 guidance reflects seasonal trends and macroeconomic uncertainties, but margins are expected to remain stable [90] - Mobility margins have upside potential, particularly with new business wins and expected commercial vehicle pre-buy activity in 2025-2026 [92][94] Question: Impact of Volkswagen's curtailment announcements [97] - The company will continue to supply Volkswagen at their demand levels, with regional dynamics and new customer wins offsetting any volume changes [97][98]