Axalta Q3 net sales up 5.7% to $1.3B; raises FY 2023 earnings outlook

Axalta Coating Systems Ltd.

2023-Q3 EPS reported $0.87 revenue$3,886,800,000

Net sales $1.3B, up 5.7% YoY; income from operations $163M, up 32% YoY.
Adjusted EBIT $188M, margin 14.3% up 240 bps; adjusted EPS $0.45 vs $0.39.
Free cash flow $182M, up from $51M; repurchased $50M in shares at avg $27.79.
Performance Coatings net sales $856M (+2.2%); Mobility Coatings $453M (+13%).
FY 2023 guidance: Adj. EBIT ~$670M, Adj. EBITDA ~$950M, FCF ~$400M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Axalta Coating Systems Ltd. reported the third quarter ended September 30, 2023 results: revenue $1.3 billion, net income $73 million, EPS $0.33 per diluted share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $1.3 billion
Net income: $73 million
EPS: $0.33 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

coatings company, announced its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights: ▪ Net sales increased 5.7% year-over-year to $1.3 billion ▪ Income from operations increased $40 million year-over-year to $163 million and Adjusted EBIT increased $40 million year over year to $188 million ▪ Operating margins increased

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Source: SEC EDGAR

accession 0001616862-23-000071

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