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Mar 31, 2024
Axalta Q1 2024 Earnings Report
Axalta's first quarter results were released, showcasing increased net sales and adjusted EBITDA, offset by a decrease in net income due to restructuring charges. The company also announced a new transformation initiative and increased its full-year outlook.
Key Takeaways
Axalta reported a 0.8% increase in net sales to $1.3 billion for Q1 2024. Net income decreased to $39 million due to $55 million in restructuring charges, while adjusted EBITDA rose to $259 million. The company announced a 2024 Transformation Initiative and approved a $700 million share repurchase program.
Net sales increased 0.8% year-over-year to $1.3 billion.
Adjusted EBITDA increased $46 million year-over-year to $259 million, with margin improving to 20.0%.
Net income declined to $39 million due to restructuring charges.
The board approved a $700 million share repurchase authorization in April 2024.
Revenue by Segment
Forward Guidance
Axalta has raised its full year 2024 Adjusted EBITDA, Adjusted EPS, and Free Cash Flow guidance.
Positive Outlook
- Net Sales YoY% +LSD
- Adjusted EBITDA ~$275 million
- Adjusted EBITDA $1,050 - $1,080 million
- Adjusted Diluted EPS ~$0.50
- Adjusted Diluted EPS $1.90 - $2.00
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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