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Sep 30, 2024
Axalta Q3 2024 Earnings Report
Axalta's Q3 2024 financial results were released, showcasing record third quarter net sales and Adjusted EBITDA.
Key Takeaways
Axalta Coating Systems reported a record third quarter with net sales of $1.32 billion. Net income increased by 40% year over year to $102 million, and Adjusted EBITDA increased by 12% to $291 million. Diluted EPS increased by 39% to $0.46, and Adjusted Diluted EPS improved by 31% to $0.59.
Record third quarter net sales of $1.32 billion
Net income increased 40% year over year to $102 million; net income margin of 7.7%
Record third quarter Adjusted EBITDA of $291 million
Adjusted EBITDA margin improved 220 basis points year over year to 22.1%
Revenue by Segment
Forward Guidance
Axalta anticipates net sales of approximately $5,275 million, Adjusted EBITDA of approximately $1,115 million, Adjusted Diluted EPS of $2.15, and Free Cash Flow of approximately $500 million for the full year 2024.
Positive Outlook
- Net Sales ~$5,275 million
- Adjusted EBITDA ~$1,115 million
- Adjusted Diluted EPS $2.15
- Free Cash Flow ~$500 million
- D&A (step-up D&A) ~$280 ($50)
Challenges Ahead
- Tax Rate, As Adjusted ~25%
- Diluted Shares Outstanding ~220
- Interest Expense ~$210
- Capex ~$140
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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