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Axalta Coating Systems Ltd. - $AXTA STOCK NEWS

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Axalta (NYSE: AXTA), a leading global coatings company, has announced a partnership with Solera, a global leader in vehicle lifecycle management. This partnership will integrate Axalta's conventional and Fast Cure Low Energy (FCLE) refinish paint systems into Solera's Sustainable Estimatics platform. This integration allows Axalta customers to estimate CO2 emissions per repair, considering various factors like repair methods, paint application, and drying conditions. Customers will have access to a live dashboard for energy-conscious, data-driven decisions. Axalta aims for carbon neutrality by 2040, and this partnership supports their BELEAF initiative, focusing on sustainability and eco-conscious products.

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Solera, a leader in vehicle lifecycle management, announces a strategic partnership with Axalta (NYSE: AXTA), a global supplier of coatings. This collaboration integrates Axalta’s refinish paint systems into Solera’s Sustainable Estimatics platform to accurately calculate CO2 emissions per vehicle repair. The initiative will help body shops and insurers make data-driven decisions to reduce carbon footprints, aligning with EU's CSRD regulations. Axalta aims to be carbon neutral by 2040, and this partnership supports its sustainability goals, providing eco-conscious products, tools, and resources.

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Axalta Coating Systems (NYSE: AXTA) announced its three-year strategy plan, the 2026 A-Plan, during a Strategy Day event at its Global Innovation Center. The plan focuses on five key growth areas: cultural transformation, operational excellence, optimized portfolio strategy, sustainable innovation, and effective capital allocation. Axalta aims to achieve $500 million in net sales growth, more than 60% Adjusted Diluted EPS growth, and adjusted EBITDA margins exceeding 21% by 2026. CEO Chris Villavarayan emphasized the ongoing transformation and efforts to accelerate performance in the coming years.

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Transtar Holding Company announces that Axalta Coating Systems is set to acquire The CoverFlexx Group, a subsidiary specializing in automotive coatings, with a workforce of over 120 employees. The transaction is expected to close in the third quarter pending regulatory approval.

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Axalta Coating Systems (AXTA) announced the acquisition of The CoverFlexx Group for $285 million, plus an additional $10 million earnout. The deal is expected to close in the third quarter, pending regulatory approval. The CoverFlexx Group focuses on aftermarket coatings for economy customers in North America, generating $78 million in revenue in 2023.

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Axalta Coating Systems announced its financial results for the first quarter of 2024, with net sales increasing by 0.8% to $1.3 billion. The company reported an estimated annual $75 million run-rate savings from the 2024 Transformation Initiative. Although net income declined by $22 million to $39 million due to restructuring charges, Adjusted EBITDA saw a $46 million increase to $259 million. Diluted EPS dropped by $0.09 to $0.18, while Adjusted Diluted EPS rose by $0.13 to $0.48. The company also paid down $75 million of principal on term loan and approved a $700 million share repurchase program.

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Axalta Coating Systems (NYSE: AXTA) has won three 2024 Edison Awards™, with Axalta Irus Mix, Voltatex® 7345 A ECO Wire Enamel, and its Low Carbon Footprint Sustainable Coating System receiving accolades. The company's commitment to innovation and sustainability is evident through these award-winning solutions, showcasing efficiency, environmental benefits, and reduced carbon footprint. Axalta continues to lead in the global coatings industry with its focus on smarter surface solutions for a sustainable future.
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Axalta Coating Systems (AXTA) was named a 2023 General Motors Supplier of the Year, highlighting its innovative products and commitment to sustainability. General Motors recognized 86 suppliers during the annual event, emphasizing the importance of performance, innovation, and cultural alignment. Axalta's President, Hadi Awada, expressed pride in the recognition and highlighted the company's contributions to GM's transformation.
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Axalta Coating Systems (AXTA) will announce its first-quarter 2024 financial results on May 1, 2024. The company's CEO and CFO will discuss the performance during a conference call. Investors can access a live webcast and replay of the call.
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Axalta Coating Systems announces retirement of Board member Robert M. McLaughlin after ten years of service. Jan Bertsch appointed as new Chair of the Audit Committee. The company continues to focus on providing innovative and sustainable coatings solutions globally.
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Axalta Coating Systems Ltd.

NYSE:AXTA

AXTA Rankings

AXTA Stock Data

7.69B
219.14M
0.37%
99.58%
2.64%
Paint and Coating Manufacturing
Manufacturing
Link
United States of America
PHILADELPHIA

About AXTA

singular focus on providing brilliant coatings sets us apart. axalta coating systems is the only leading global coatings company dedicated solely to the development, manufacture and sale of liquid and powder coatings. we serve customers in the automotive, transportation, general industrial and architectural and decorative sectors. our innovative products and services include paint, color matching tools, application technologies and customer training and business management systems. our scale ensures we can deliver innovative coating systems around the world. fast facts • over 145 years of experience in the coatings industry • more than 12,000 people who create, manufacture, distribute and support our products and services • doing business in 130 countries • 35 manufacturing plants around the world • 7 research & development centers on four continents • over 1,800 patents held or pending • 42 training centers to support our refinish customers around the globe • more than 120,