Axalta Q2 record revenue $1.35B, Adj EBITDA $291M (+28% YoY), raises FY2024 guidance

Axalta Coating Systems Ltd.

2024-Q2 EPS reported $0.69 revenue$2,645,000,000

Q2 net sales $1.35B (+4.4% YoY); net income $113M (+$52M YoY); Adj diluted EPS $0.57 (+63%).
Adjusted EBITDA $291M (record), margin 21.5% (+400 bps YoY); all four end markets positive.
Performance Coatings Adj EBITDA $223M (+23%); Mobility Coatings $68M (+48%), both driven by deflation and volume.
FY2024 guidance raised: Adj EBITDA ~$1.09-1.1B, Adj diluted EPS ~$2.05, FCF $475-500M.
Net leverage fell to 2.6x from 3.6x; repurchased $50M shares; CoverFlexx acquisition closed July 2024.

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