Axalta Coating Systems NYSE:AXTA Stock Report

Consensus forecasts updated

The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from US$1.64 to US$1.31 per share. Revenue forecast steady at US$4.89b. Net income forecast to grow 71% next year vs 22% growth forecast for Chemicals industry in the US. Consensus price target down from US$31.24 to US$30.29. Share price was steady at US$25.27 over the past week.

Axalta Coating Systems Ltd. Provides Sales Guidance for the Third Quarter of 2022

Axalta Coating Systems Ltd. provided sales guidance for the third quarter of 2022. For the quarter, the company expects Net Sales: +15-17%, including, 6% foreign currency impact and +2% acquisition benefit; pricing and volume expected to be up high single-digits year-over-year.

Axalta Coating Systems Ltd. Announces Robert Bryant Step Down as President and as a Member of the Board of Directors

Second quarter 2022 earnings: EPS misses analyst expectations

Second quarter 2022 results: EPS: US$0.20 (down from US$0.54 in 2Q 2021). Revenue: US$1.23b (up 9.6% from 2Q 2021). Net income: US$44.1m (down 65% from 2Q 2021). Profit margin: 3.6% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 46%. Over the next year, revenue is forecast to grow 8.7%, compared to a 14% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.