Axalta Coating reports Q1 adjusted EPS 56c, consensus 50c

Reports Q1 revenue $1.25B, consensus $1.21B. “We delivered another quarter of excellent execution surpassing our expectations on revenue, Adjusted EBITDA and Adjusted Diluted EPS, while maintaining strong margins and improved cash flow generation,” said CEO Chris Villavarayan. “In the current environment of higher input costs, we are deploying pricing strategies and strong cost discipline to drive sustained financial performance. We are also progressing through various workstreams associated with the proposed merger of equals with AkzoNobel as planned and are on track with the stated timeline. While implementing a disciplined joint integration plan, we are maintaining momentum to deliver our financial and operational priorities. Axalta’s Q1 results demonstrate our proven ability to navigate a dynamic macroeconomic environment while maintaining stable revenue and operational performance. We remain focused on driving operational efficiencies, executing our strategic initiatives, and positioning the company for success ahead of the proposed merger of equals with AkzoNobel.”