Axalta Coating Systems (AXTA) reported $1.3 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.9%. EPS of $0.43 for the same period compares to $0.38 a year ago.The reported revenue represents a surprise of +1.16% over the Zacks Consensus Estimate of $1.28 billion. With the consensus EPS estimate being $0.43, the company has not delivered EPS surprise.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Axalta Coating Systems (AXTA) came out with quarterly earnings of $0.43 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this high-performance coating system maker would post earnings of $0.38 per share when it actually produced earnings of $0.45, delivering a surprise of 18.42%.Over the last four quarters, the company has surpassed consensus EPS estimates two ...

Analysts on Wall Street project that Axalta Coating Systems (AXTA) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing an increase of 13.2% year over year. Revenues are projected to reach $1.28 billion, increasing 3.5% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections duri ...

Dynamic black shade evokes depths of our universe and space exploration Latest edition marks decade since Axalta launched its first Automotive Color of the Year GLEN MILLS, Pa., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE:AXTA), a leading global coatings company, today announced its 2024 Global Automotive Color of the Year – Starry Night. The latest edition marks the 10th year Axalta has introduced its automotive color of the year and the first time it has featured a black shade. Starry N ...

The Zacks Chemicals Specialty industry is facing challenges from demand softness, largely due to a slowdown in Europe and a slow economic recovery in China. Margins of companies in this space also remain under pressure due to the still-elevated input, supply chain and logistics costs.Industry players like Celanese Corporation (CE) , Axalta Coating Systems Ltd. (AXTA) and Element Solutions Inc (ESI) are banking on strategic measures, including operating cost reductions, to tide over a persistently challengin ...

Voltatex® 7345 A ECO Wire Enamel enables efficient electric motors, powertrains and energy storage devices, advances electrification, and reduces CO2 emissions Sustainable Raptor® Flameproof Coating extends the useful life of automotive parts especially at extremely high temperatures GLEN MILLS, Pa., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE:AXTA), a leading global coatings company, today announced that both its Voltatex® 7345 A ECO Wire Enamel and its Raptor® Flameproof Coating have ea ...

Core Viewpoint - Axalta Coating Systems is set to release its fourth-quarter and full-year 2023 financial results on February 8, 2024, at 6 a.m. ET, followed by a conference call at 8 a.m. ET to discuss the financial performance [1]. Group 1: Financial Results Announcement - The financial results will be available on Axalta's Investor Relations site [1]. - A conference call will be hosted by the CEO and CFO to review the financial performance [1]. - A live webcast of the conference call will be accessible, with a replay available until February 8, 2025 [1]. Group 2: Conference Call Details - The dial-in phone number for the conference call is 201-689-8560 [2]. - A replay of the call will be available until February 15, 2024, with a specific replay dial-in number and passcode provided [2]. Group 3: Company Overview - Axalta is a global leader in the coatings industry, offering innovative and sustainable coating solutions across various applications [3]. - The company has over 150 years of experience and serves more than 100,000 customers in over 130 countries [3]. - Axalta focuses on preventing corrosion, increasing productivity, and enhancing durability through its products [3].

GLEN MILLS, Pa., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, will release its fourth-quarter and full-year 2023 financial results at 6 a.m. ET on Thursday, February 8. The release and supporting materials will be posted to Axalta’s Investor Relations site. In addition, the company will host a conference call at 8 a.m. ET on February 8. Chris Villavarayan, Chief Executive Officer and President, and Carl Anderson, Senior Vice President and Chief Fi ...

Axalta Coating Systems Q3 2023 Financial Results Legal Notices Forward-Looking Statements This presentation and the oral remarks made in connection herewith may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding Axalta and its subsidiaries including, but not limited to, our outlook/commentary and/or guidance, which includes net sales growth, Adjusted EBIT, Adjusted EBITDA, depreciation and amortization, step-up depreciation an ...

Financial Data and Key Metrics Changes - Q3 net sales increased by 6% year-over-year to $1.3 billion, a new company record, driven by strong performance in Mobility Coatings [6][15] - Adjusted EBIT rose to $188 million, a 27% increase from $148 million in the prior year, with adjusted EBITDA increasing by 24% to $261 million [6][17] - Adjusted EBIT margins improved by 240 basis points year-over-year to 14.3%, attributed to raw material deflation and cost discipline [7][15] - Free cash flow increased by $131 million year-over-year to $182 million, with expectations to deliver approximately $400 million for the full year 2023 [7][17] Business Line Data and Key Metrics Changes - Performance Coatings net sales were $856 million, a 2% improvement year-over-year, with Refinish organic net sales improving by low-single-digits [18][19] - Mobility Coatings net sales increased by 13% year-over-year to $453 million, with light vehicle organic net sales up by 12% [20][22] - Adjusted EBIT for Mobility Coatings improved to $40 million from $4 million a year ago, with adjusted EBIT margin increasing by 790 basis points to 8.8% [22] Market Data and Key Metrics Changes - Strong performance in the Asia Pacific region, particularly in China, where volumes grew significantly [16][20] - EMEA and North America markets are expected to remain favorable into the fourth quarter [16] - The company anticipates a muted volume growth in Q4 due to a slight decline in Performance Coatings, while Mobility sales are expected to remain strong [26] Company Strategy and Development Direction - The company is focused on improving efficiency and performance across its portfolio, with a rigorous pricing approach and cost optimization initiatives [12][13] - The acquisition of André Koch aligns with the strategy to diversify and expand Refinish offerings, enhancing presence in Switzerland [9][10] - The company plans to accelerate internal investments and improve return on invested capital, with a strategic focus on operational objectives [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory, expecting record adjusted EBITDA in 2023 and solid growth into 2024 [8][27] - The company is committed to transforming its operations and believes that ongoing initiatives will yield positive results [28] - Management highlighted the importance of maintaining pricing discipline amid inflationary pressures in labor and raw materials [12][16] Other Important Information - The company has repurchased $50 million worth of shares, indicating strong confidence in its equity [24] - The net leverage ratio improved to 3.2 times, with a target of achieving a ratio of 2 to 2.5 times in the future [23][24] Q&A Session Summary Question: Pricing Environment Going Forward - Management indicated that pricing discipline will continue, with expectations of low single-digit pricing growth into 2024 [30][31] Question: Gross Margin Trajectory - Management believes that structural enhancements and cost initiatives will support margin improvement, with potential to reach pre-pandemic levels [32][33] Question: Acquisition Strategy in Europe - The acquisition of André Koch is seen as a strategic move to enhance distribution and customer relationships in Europe [36][38] Question: Investments and Returns - Management detailed investments in ERP implementation and purchasing initiatives, expecting significant returns in 2024 [42][44] Question: Outlook for Auto Builds - Management expects global auto builds to increase, particularly in China, while North America may see some impact from the UAW strike [64][66] Question: Refinish Sales Growth - Management anticipates growth in Refinish sales in 2024, supported by recent acquisitions and ongoing market share gains [68][70]