Recap: Axalta Coating Sys Q2 Earnings

Shares of Axalta Coating Sys AXTA moved lower in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 420.00% year over year to $0.48, which were in line with the estimate of $0.48.

Revenue of $1,127,000,000 up by 72.67% year over year, which beat the estimate of $1,080,000,000.

Guidance

Axalta Sees FY21 Adj. EPS $1.85-$2, Sales Growth 20-22% Year Over Year

Price Action

52-week high: $34.20

52-week low: $20.25

Price action over last quarter: down 9.46%

Company Profile

Axalta Coating Systems Ltd manufactures, markets and distributes performance coating and transportation coating systems. It operates in two segments. The Performance Coatings segment, which is the key revenue driver, provides liquid and powder coatings solutions to a fragmented and local customer base. Its end-markets include refinish and industrial. The Transportation Coatings segment relates to the provision of coating technologies to original equipment manufacturers of light and commercial vehicles. The company operates in the geographic areas of North America, EMEA countries, Asia-Pacific and Latin America.