Axalta Q1 adj. EBITDA record $259M; raises FY 2024 adj. EPS and FCF outlook

Axalta Coating Systems Ltd.

2024-Q1 EPS reported $0.18 revenue$1,294,000,000

Net sales $1.3B (+0.8% YoY); adj. EBITDA $259M (record, 20.0% margin, +340 bps).
Diluted EPS $0.18 (down $0.09); adj. diluted EPS $0.48 (up $0.13).
Board approved new $700M share repurchase program in April 2024.
Q1 paid down $75M term loan; net leverage 2.8x vs 3.7x a year ago.
FY 2024 guidance raised: adj. EBITDA $1.05-1.08B, adj. EPS $1.90-2.00, FCF $425-475M.

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 the first quarter ended March 31, 2024 results: revenue $1.3 billion, net income $39 million, EPS $0.18. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $1.3 billion
Net income: $39 million
EPS: $0.18
Guidance: raised
Result: reported results

Exact text from the filing

global coatings company, announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights: ▪ Net sales increased 0.8% year-over-year to $1.3 billion ▪ Announced 2024 Transformation Initiative with an estimated annual $75 million run-rate savings expected in 2026 ▪ Net income declined $22 million year-over-year to $39 million

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Source: SEC EDGAR

accession 0001616862-24-000033

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