Axalta Coating Sys Ltd Stock Price, News & Analysis

Axalta Coating Systems Ltd. reported a solid second quarter for 2022, achieving net sales of $1,234.9 million, a 9.6% year-over-year increase, primarily due to record pricing and volume growth. Despite a reduction in income from operations to $103.6 million, the company demonstrated resilience with a 10% price-mix growth, offsetting inflation impacts. Adjusted diluted EPS stood at $0.41, down from $0.48 in Q2 2021. CEO Robert Bryant announced plans to step down in August 2022, with Rakesh Sachdev taking over as interim CEO while a search for a permanent replacement is underway.

Axalta Coating Systems Ltd. (NYSE:AXTA) has announced the resignation of Robert Bryant as President and Chief Executive Officer, effective August 31, 2022, to pursue other opportunities. Rakesh Sachdev, currently an independent director and former CEO of Platform Specialty Products, will take over as interim CEO. The Board has initiated a search for a permanent CEO. The company emphasizes its commitment to enhance shareholder value and transition smoothly during this leadership change.

Axalta Coating Systems (NYSE: AXTA) will release its Q2 2022 financial results on July 26 after the market closes. A conference call is scheduled for July 27 at 8 a.m. ET, where CEO Robert W. Bryant and CFO Sean Lannon will discuss the financial performance. Investors can access the call via a live webcast and a replay will be available after the event. For further details, visit axalta.com.

Axalta Coating Systems reported strong first-quarter results for 2022, with net sales up 10.4% year-over-year to $1,174.1 million, supported by robust pricing gains across all markets. Income from operations reached $86.3 million, a significant increase from $52.6 million in Q1 2021. Adjusted EBIT fell to $119.5 million from $182.8 million, influenced by cost inflation. Notably, share repurchases totaled $175.1 million, indicating a commitment to shareholder value. Despite challenges from supply chain disruptions and rising costs, Axalta maintains a positive outlook for future growth.

Axalta (NYSE: AXTA) will announce its Q1 2022 financial results post-market on April 25, 2022. Following the release, a conference call is scheduled for April 26 at 8 a.m. ET, where CEO Robert W. Bryant and CFO Sean Lannon will discuss the company's performance. Interested parties can join via telephone or watch the live webcast. The investor materials will be accessible on Axalta's Investor Relations page. The call will also have a replay available until May 3, 2022.

On March 24, 2022, Axalta (NYSE: AXTA) and the Philadelphia Eagles recognized nine exceptional teachers from the Philadelphia area for their innovative STEM teaching. Sarah Fryling from Smithville Elementary School was named the 2021 Axalta All-Pro Teacher of the Year. Each honoree received support for STEM education, Eagles game tickets, and personalized gear. Axalta's CEO, Robert Bryant, emphasized the importance of teachers in inspiring future scientists and engineers, noting the program's commitment to enhancing education in the region.

Axalta Coating Systems (NYSE: AXTA) has appointed Christopher Evans as the new VP of Investor Relations, effective immediately. Reporting to Sean Lannon, SVP and CFO, Evans aims to enhance shareholder communication and investor engagement. Evans brings extensive experience from his previous roles at Ecovyst and Chemours, alongside a solid foundation in the chemical industry as a former analyst at Goldman Sachs. He succeeds Christopher Mecray, who recently left for a new opportunity. Sean Lannon commended Mecray for his significant contributions since Axalta's public offering in 2014.

Axalta (NYSE: AXTA) was honored as a 2021 Supplier of the Year in the paint category by General Motors during its 30th annual awards ceremony held in Phoenix, Arizona. The award recognizes suppliers who exceed GM's requirements, promoting innovative technologies and high quality in the automotive sector. Axalta has been a paint supplier to GM for over 100 years, and this recognition emphasizes its resilience during the challenging supply chain issues exacerbated by the pandemic. GM acknowledged 134 suppliers globally this year, highlighting commitment to sustainability and innovation.