Axalta Coating Systems Ltd

AXTA

Equity

ISIN BMG0750C1082 / Valor 25279047

New York Stock Exchange, Inc (2024-12-24)

USD 34.44+0.26%

Axalta Coating Systems Ltd
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Axalta Coating Systems Ltd is a leading provider of light vehicle and commercial vehicle coatings for original equipment manufacturers, offering advanced technologies that protect vehicle exteriors and interiors, insulate electric motors, increase productivity in the paint shop, and enhance aesthetics. Their Mobility solutions include basecoats, clearcoats, primers, electrocoats, and powder applications for surface protection. Additionally, Axalta's performance coatings cater to a wide range of industrial applications, serving various sectors such as industrial and electrical system components, oil and gas pipelines, wood applications, agricultural, construction and earth moving equipment, rail cars, structural steel, and sports equipment.

Summarized from source with an LLMView SourceSector: Industrials

Record Net Sales

Axalta Coating Systems Ltd. reported record net sales of $1.32 billion for the third quarter of 2024, marking a 0.8% increase compared to the same period last year. This growth was driven by contributions from the CoverFlexx acquisition and volume growth, despite facing challenges from contractual raw material index impacts and mix headwinds.

Significant Net Income Growth

For the third quarter of 2024, Axalta Coating Systems Ltd. achieved a net income of $102 million, representing a 40% increase year over year. The net income margin for this period was 7.7%, reflecting the company's improved profitability.

Adjusted EBITDA and Margins

Axalta Coating Systems Ltd. reported a record third quarter Adjusted EBITDA of $291 million, a 12% increase from the previous year. The Adjusted EBITDA margin improved by 220 basis points to 22.1%, driven by lower variable costs and a reduction in operating expenses.

Earnings Per Share Increase

In the third quarter of 2024, Axalta Coating Systems Ltd. saw a 39% increase in diluted earnings per share, reaching $0.46. Adjusted diluted earnings per share also rose by 31% to $0.59, highlighting the company's strong financial performance.

Share Repurchase and Liquidity

During the third quarter of 2024, Axalta Coating Systems Ltd. repurchased over 1.4 million common shares for a total of $50 million. The company ended the quarter with cash and cash equivalents of $567 million and total liquidity exceeding $1.2 billion, maintaining a net debt to trailing twelve-month Adjusted EBITDA ratio of 2.7x.

Summarized from source with an LLMView Source

Key figures

0.85%1Y

8.23%3Y

13.6%5Y

Performance

23.8%1Y

30.7%3Y

35.9%5Y

Volatility