Axalta Coating Systems Reports Q3 Earnings Miss on Revenue and EPS
Axalta Coating Systems (AXTA) reported third-quarter financial results that fell short of analyst expectations for both the top and bottom lines. The company posted non-GAAP earnings per share of $0.63, missing estimates by $0.07, while revenue reached $1.31 billion, representing a 1.6% year-over-year increase but falling $20 million short of consensus forecasts. Despite the misses, Axalta reported an adjusted EBITDA of $282 million with a margin of 21.5%. The company also generated $135 million in cash from operating activities. Investors are now looking toward the provided Q4 guidance and updated fiscal year outlooks to gauge the company's recovery trajectory.
Tickers: $AXTA