Axalta Q2 2024 Earnings Report
Key Takeaways
Axalta Coating Systems reported a strong second quarter in 2024, with record net sales of $1.35 billion, a 4.4% increase year-over-year. Net income rose to $113 million, and adjusted EBITDA reached a record $291 million, with margin expansion. The company raised its full-year earnings and free cash flow outlook.
Net sales increased by 4.4% year-over-year reaching $1.35 billion.
Net income increased $52 million year over year to $113 million.
Adjusted EBITDA increased $64 million year over year to $291 million, with Adjusted EBITDA margin improving to 21.5%.
Diluted EPS increased 89% year over year to $0.51, and Adjusted Diluted EPS increased 63% year over year to $0.57.
Axalta
Axalta
Forward Guidance
Axalta raised its full year 2024 Adjusted EBITDA, Adjusted Diluted EPS and Free Cash Flow guidance.
Positive Outlook
- Net Sales YoY%: Flat to +LSD%
- Adjusted EBITDA: ~$275 million
- Adjusted EBITDA: ~$1,090 - $1,100 million
- Adjusted Diluted EPS: ~$0.50
- Free Cash Flow: $475 - $500 million