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Sep 30, 2023
Axalta Q3 2023 Earnings Report
Axalta's Q3 2023 financial performance was marked by increased net sales and improved profitability.
Key Takeaways
Axalta Coating Systems reported a 5.7% increase in net sales to $1.3 billion, driven by strong price-mix management. The company's income from operations rose by 32% to $163 million, and adjusted EBIT increased to $188 million. Axalta also generated $210 million in cash from operating activities and $182 million in free cash flow.
Net sales increased by 5.7% year-over-year reaching $1.3 billion.
Income from operations rose by $40 million year-over-year, totaling $163 million.
Cash provided by operating activities was $210 million, with a free cash flow of $182 million.
The company repurchased $50 million of common shares and repriced its term loan, improving pricing by 50 bps.
Revenue by Segment
Forward Guidance
Axalta anticipates net sales to increase by low-single digits year-over-year for Q4 2023. Adjusted EBIT is projected to be approximately $180 million and Adjusted EBITDA approximately $250 million.
Positive Outlook
- Net sales are expected to increase year-over-year by low-single digits.
- Adjusted EBIT is projected to be approximately $180 million.
- Adjusted EBITDA is projected to be approximately $250 million.
- D&A (step-up D&A) is projected to be ~$280 million ($55 million).
- Free Cash Flow is projected to be ~$400 million.
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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