Axalta Q1 net sales +9.4% YoY to $1.28B; adj. EBIT +25% to $149M; EPS $0.27 above guidance

Axalta Coating Systems Ltd.

2023-Q1 EPS reported $0.27 revenue$1,283,900,000

Q1 net sales $1.28B, up 9.4% YoY (12.1% ex-FX); price/mix +9.4%, volume +2.7%, FX -2.7%
Income from operations $125.3M vs $86.3M; adj. EBIT $149.3M (+25% YoY); margins improved 140bps to 11.6%
Diluted EPS $0.27 (adj. $0.35) vs $0.18 ($0.31) in Q1 2022; net income $60.5M vs $41.5M
Mobility Coatings net sales +21.4% (volume +16.5%); adj. EBIT $23.5M vs $0.5M, margin 5.4% vs 0.1%
Paid down $75M on term loan; net debt/LTM EBITDA 3.7x; free cash flow -$87.6M vs -$80.2M

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Axalta Coating Systems Ltd. reported first quarter ended March 31, 2023 results: revenue $1,283.9, net income $60.5 million, EPS $0.27.

Period: first quarter ended March 31, 2023
Revenue: $1,283.9
Net income: $60.5 million
EPS: $0.27
Result: reported results

Exact text from the filing

Price/Mix FX Performance Coatings Net Sales $847.1 $814.4 4.0% (3.4%) 10.3% (2.9%) Mobility Coatings Net Sales $436.8 $359.7 21.4% 16.5% 7.2% (2.3%) Total Axalta Net Sales $1,283.9 $1,174.1 9.4% 2.7% 9.4% (2.7%) Income from operations $125.3 $86.3 45.2% Adjusted EBIT $149.3 $119.5 24.9% % margin 11.6% 10.2% 1 Performance Coatings Results ($ in millions) Q1

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Source: SEC EDGAR

accession 0001616862-23-000016

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