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PHILADELPHIA, on Tuesday, Axalta Coating Systems Ltd . (NYSE:AXTA) shares jumped 4.81% after the coatings company reported fourth quarter earnings that beat analyst expectations.
The company posted adjusted earnings per share of $0.60, surpassing the consensus estimate of $0.51. Revenue for the quarter came in at $1.31 billion, in line with analyst projections.
Axalta’s fourth quarter net sales increased 1% year-over-year to $1.3 billion. Net income rose 85% to $137 million, resulting in a net income margin of 10.5%, up 480 basis points from the prior year period.
The company reported record fourth quarter Adjusted EBITDA of $275 million, with Adjusted EBITDA margin improving 170 basis points year-over-year to 21.0%.
"Axalta’s 2024 financial results were exceptional. We delivered record net sales and Adjusted EBITDA for the fourth quarter and full year in a challenging macro environment," said Chris Villavarayan, Axalta’s CEO and President.
For the full year 2024, Axalta’s net sales increased 2% to $5.3 billion. Net income improved to $391 million versus $269 million in 2023.
Looking ahead, Axalta expects full year 2025 net sales of $5.35 billion to $5.4 billion and Adjusted EBITDA of $1.15 billion to $1.175 billion.
The strong quarterly results and positive outlook drove the stock higher in after-hours trading. Axalta’s performance suggests resilient demand for its coatings products despite economic headwinds.
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