Axalta Q3 Adjusted EPS Misses at $0.63 as Sales Fall Short of $1.33B Consensus
AXTA sits 36% above its 52-week low of $24.937.
Summary
Axalta posted Q3 adjusted EPS of $0.63, below the $0.70 consensus and down from $0.67 a year ago, with revenue up 1.8% to $1.31 billion versus the $1.33 billion analysts expected. Reported EPS was $0.44 on net income of $95 million. The miss follows a strong Q2 that beat at $0.72, and seven analysts have cut estimates in the past 30 days. The results land as the $25 billion AkzoNobel merger of equals moves through antitrust review, with EU clearance expected with conditions and UK CMA scrutiny ongoing; merger costs and planned divestitures remain the backdrop. Shares are up 7.7% this quarter and 7.2% year to date, so the soft quarter tests that run.
At the time of this announcement, AXTA was trading at $33.87 on NYSE in the Manufacturing sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $24.94 to $38.61. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.