AXTA reports stronger-than-expected quarterly results, driven by record profitability and sales growth, lifting premarket shares.
Axalta Coating Systems (AXTA) posted quarterly earnings and revenue that exceeded Wall Street expectations, fueled by stronger sales and record profitability. The company’s adjusted earnings and revenue both topped consensus estimates, despite merger-related costs weighing on net income.
Prior to the release, AXTA shares had risen 4.4% year-to-date. The company highlighted meaningful improvements in adjusted profitability and identified post-merger value creation opportunities. Management forecast low single-digit sales growth and robust adjusted EBITDA for Q3 and the full year.
Shares jumped 5.5% in premarket trading following the results, reflecting investor optimism over the outlook.