Axalta Coating Systems Ltd.
Description
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through two segments, Performance Coatings and Mobility Coatings. It also offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops. In addition, the company provides functional and decorative liquid, and powder coatings used in various industrial applications, including building materials, cabinet, wood and luxury vinyl flooring and furniture market under the Voltatex, AquaEC, Durapon, Hydropon, UNRIVALED, Ceranamel, Industrial, Corlar Industrial, Tufcote, Imron Industrial, Alesta, Teodur, Nap-Gard, Abcite, and Plascoat brands for powder coatings. Further, it develops and supplies electrocoat, primer, the basecoat, and clearcoat products for OEMs of light and commercial vehicles; and coatings systems for various commercial applications, including HDT, MDT, bus, and rail under the Imron, Imron Elite, Centari, Rival, Corlar epoxy undercoats, and AquaEC brands. The company offers products under the Audurra, Abcite, Alesta, AquaEC, Centari, Ceranamel, Challenger, Chemophan, ColorNet, Cromax, Cromax Mosaic, Durapon 70, Duxone, Harmonized Coating Technologies, Imron ExcelPro, Lutophen, Nason, Spies Hecker, Standox, Stollaquid, Syntopal, Syrox, Raptor, U-POL, and Vermeera brand names. The company was formerly known as Axalta Coating Systems Bermuda Co., Ltd. and changed its name to Axalta Coating Systems Ltd. in August 2014. Axalta Coating Systems Ltd. was founded in 1866 and is headquartered in Glen Mills, Pennsylvania.
About
CEO
Mr. Chrishan Anthon Sebastian Villavarayan
Employees
12,700
Instrument type
Common Stock
Sector
Basic Materials
Industry
Specialty Chemicals
MIC code
XNYS
Address
50 Applied Bank Blvd, Glen Mills, PA 19342, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 28, 2025 | — | — | — | — |
| Jul 30, 2025 | — | — | — | — |
| Apr 29, 2025 | — | — | — | — |
| Feb 4, 2025 | 0.52 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 13 | — | 20 |
| Average estimate | — | 0.51 | — | 2.35 |
| Low estimate | — | 0.47 | — | 2.25 |
| High estimate | — | 0.56 | — | 2.46 |
| Last year EPS | — | 0.48 | — | 2.15 |
[stock_revenue_estimate]
Growth estimates
Current qtr
18.800%
Next qtr. (Mar 2025)
5.420%
Current year
36.870%
Next year (Dec 2025)
9.410%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 5.18B | 4.88B | 4.42B | 3.74B | 4.48B |
| Cost of revenue | 3.57B | 3.47B | 2.99B | 2.46B | 2.92B |
| Gross profit | 1.62B | 1.42B | 1.43B | 1.28B | 1.56B |
| Operating expense | |||||
| Research & development | 74.00M | 66.40M | 62.40M | 55.20M | 70.20M |
| Selling general and admin | 840.10M | 772.40M | 738.70M | 695.00M | 822.10M |
| Other operating expenses | 28.40M | 31.50M | 44.00M | 110.80M | 70.70M |
| Operating income | 587.50M | 423.20M | 462.40M | 305.50M | 488.20M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 213.30M | 139.80M | 134.20M | 149.90M | 162.60M |
| Other income expense | -19.50M | -26.10M | 12.30M | -33.40M | 4.40M |
| Pretax income | 354.70M | 257.30M | 340.50M | 122.20M | 330.00M |
| Tax provision | 86.20M | 65.10M | 76.10M | 200,000 | 77.40M |
| Net income | 268.50M | 192.20M | 264.40M | 122.00M | 252.60M |
| Basic EPS | 1.21 | 0.86 | 1.14 | 0.52 | 1.06 |
| Diluted EPS | 1.21 | 0.86 | 1.14 | 0.52 | 1.06 |
| Basic average shares | 221.00M | 221.70M | 231.00M | 235.20M | 233.90M |
| Diluted average shares | 221.00M | 221.70M | 231.00M | 235.20M | 233.90M |
| EBITDA | 876.20M | 730.10M | 794.30M | 634.00M | 854.10M |
| Net income from continuing op. | 268.50M | 192.20M | 264.40M | 122.00M | 252.60M |
| Minority interests | -1.10M | -600,000 | -500,000 | -400,000 | -3.60M |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 7.27B | 7.06B | 7.22B | 7.16B | 6.82B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 699.80M | 645.20M | 840.60M | 1.36B | 1.02B |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 1.04B | 909.30M | 760.40M | 738.30M | 718.40M |
| Other receivables | 137.90M | 135.00M | 152.40M | 101.20M | 87.00M |
| Inventory | 741.10M | 829.60M | 669.70M | 559.90M | 591.60M |
| Prepaid assets | — | — | 117.20M | 132.20M | 131.20M |
| Restricted cash | 3.30M | 9.70M | 10.60M | 3.10M | 3.00M |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 117.20M | 140.80M | 117.20M | 132.20M | 131.20M |
| Non current assets | |||||
| Properties | 178.80M | 177.20M | 178.00M | 173.90M | 167.10M |
| Land and improvements | 76.20M | 75.30M | 77.60M | 81.50M | 84.50M |
| Machinery furniture equipment | 1.69B | 1.52B | 1.53B | 1.50B | 1.45B |
| Construction in progress | 85.40M | 187.90M | 105.90M | 122.20M | 81.90M |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -1.25B | -1.18B | -1.11B | -1.12B | -1.01B |
| Goodwill | 4.31B | 4.11B | 4.46B | 3.74B | 3.64B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 1.13B | 1.11B | 1.28B | 1.15B | 1.22B |
| Investments and advances | — | — | — | 1.70M | 1.60M |
| Other non current assets | 420.60M | 463.40M | 480.30M | 491.80M | 491.60M |
| Total liabilities | 5.50B | 5.56B | 5.68B | 5.68B | 5.41B |
| Current liabilities | |||||
| Accounts payable | 665.30M | 681.10M | 610.90M | 513.40M | 442.00M |
| Accrued expenses | 349.20M | 373.70M | 360.20M | 299.00M | 311.40M |
| Short term debt | 56.90M | 59.40M | 106.90M | 83.00M | 73.20M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | 62.00M | 54.00M | 53.40M | 56.40M | 36.90M |
| Pensions | 259.30M | 181.40M | 179.60M | 204.20M | 188.20M |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 3.48B | 3.67B | 3.75B | 3.84B | 3.79B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 162.30M | 162.10M | 174.70M | 114.00M | 115.50M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 179.00M | 134.50M | 149.70M | 234.10M | 144.60M |
| Shareholders equity | |||||
| Common stock | 253.70M | 252.40M | 251.80M | 250.90M | 249.90M |
| Retained earnings | 1.29B | 1.02B | 827.20M | 563.30M | 443.20M |
| Other shareholders equity | -444.20M | -466.90M | -414.40M | -424.80M | -395.50M |
| Total shareholders equity | 1.77B | 1.50B | 1.54B | 1.48B | 1.41B |
| Additional paid in capital | 1.57B | 1.54B | 1.52B | 1.49B | 1.47B |
| Treasury stock | 937.30M | 887.30M | 687.20M | 443.50M | 417.50M |
| Minority interest | 45.50M | 46.00M | 45.80M | 46.80M | 55.40M |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||
| Net Income | 268.50M | 192.20M | 264.40M | 122.00M | 252.60M | 213.30M | 47.70M | 44.60M | 95.80M | 34.70M | -218.90M | 247.80M | 181.50M |
| Depreciation | 275.60M | 303.10M | 316.50M | 320.30M | 353.00M | 369.10M | 347.50M | 322.10M | 307.70M | 308.70M | 300.70M | 110.70M | 108.70M |
| Deferred Taxes | -8.40M | -3.40M | 15.00M | -55.40M | 15.70M | 6.10M | 91.70M | -15.90M | -6.20M | -38.20M | -120.80M | 9.10M | 3.50M |
| Stock-Based Compensation | 26.20M | 22.20M | 14.90M | 15.10M | 15.70M | 37.30M | 38.50M | 41.10M | 30.20M | 8.00M | 7.40M | — | — |
| Other Non-Cash Items | 20.60M | 21.70M | 1.80M | 10.70M | 15.10M | -2.30M | 12.40M | 15.90M | 33.10M | -4.30M | 160.30M | 7.60M | -1.50M |
| Accounts Receivable | -119.00M | -171.00M | -80.50M | -26.00M | -10.10M | -22.30M | -15.20M | -67.80M | -61.10M | -40.20M | -6.40M | -58.90M | -5.40M |
| Accounts Payable | 9.40M | 138.00M | 140.10M | 103.00M | 18.20M | 49.50M | 39.80M | 32.30M | -6.70M | 53.60M | 67.10M | 54.90M | 10.00M |
| Other Assets & Liabilities | 97.50M | -202.60M | -125.90M | 103.00M | 30.00M | 16.70M | -45.10M | -15.70M | -80.00M | -61.70M | 38.70M | -46.10M | -22.80M |
| Operating Cash Flow | 570.40M | 300.20M | 546.30M | 592.70M | 690.20M | 667.40M | 517.30M | 356.60M | 312.80M | 260.60M | 228.10M | 325.10M | 274.00M |
| Investing Activities | |||||||||||||
| Capital Expenditures | -137.90M | -150.90M | -121.60M | -82.10M | -112.50M | -143.40M | -125.00M | -136.20M | -138.10M | -188.40M | -107.30M | -73.20M | -82.70M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | -200,000 | — | -21.60M | -41.70M |
| Net Acquisitions | -106.30M | -3.00M | -649.00M | -1.00M | -3.30M | -82.80M | -564.40M | -114.80M | -29.60M | 17.50M | -4.83B | 100,000 | 300,000 |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | -22.50M | — | — |
| Sale of Investments | 29.40M | 25.00M | — | — | — | 22.50M | — | — | — | — | — | — | — |
| Investing Cash Flow | -215.30M | -126.30M | -734.00M | -76.00M | -108.60M | -198.60M | -689.60M | -257.00M | -166.20M | -173.80M | -4.96B | -66.60M | -74.90M |
| Financing Activities | |||||||||||||
| Long-Term Debt Issuance | 697.40M | 1.98B | — | 1.20B | — | 468.90M | 483.60M | 1.60B | — | 700,000 | 3.91B | — | — |
| Long-Term Debt Payments | -954.10M | -2.13B | -100.90M | -1.26B | -67.10M | -556.00M | -64.10M | -1.76B | -144.20M | -154.90M | -46.60M | -700,000 | -400,000 |
| Other Financing Charges | -24.60M | -15.50M | -4.20M | -47.10M | -36.30M | -44.70M | -18.60M | -89.30M | -4.90M | -2.70M | -156.20M | -289.90M | -125.10M |
| Financing Cash Flow | -372.30M | -459.70M | -422.90M | -174.00M | -248.20M | -430.30M | 328.40M | -257.90M | -164.00M | -157.50M | 5.07B | -291.30M | -125.50M |
| Other Cash Details | |||||||||||||
| End Cash Position | 703.10M | 654.90M | 851.20M | 1.36B | 1.02B | 696.40M | 772.90M | 538.10M | 487.70M | 386.80M | 459.30M | 28.70M | 18.80M |
| Income Tax Paid | 96.70M | 63.00M | 57.90M | 25.90M | 42.20M | 57.40M | 61.70M | 39.20M | 52.40M | 57.00M | 83.10M | 15.90M | 19.60M |
| Interest Paid | 212.50M | 126.80M | 118.10M | 151.70M | 156.90M | 152.40M | 130.10M | 169.40M | 172.50M | 192.00M | 171.90M | — | 200,000 |
| Free Cash Flow | 437.40M | 142.90M | 437.00M | 427.20M | 460.60M | 352.70M | 415.00M | 423.10M | 271.70M | 63.00M | 269.50M | 294.00M | 111.80M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Victory Portfolios-Sycamore Established Value Fund | Sep 30, 2024 | 7,330,000 | 278.61M | 3.36% |
| iShares Core S&P Midcap ETF | Nov 30, 2024 | 7,043,253 | 267.71M | 3.23% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 6,968,223 | 264.86M | 3.20% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 5,490,063 | 208.68M | 2.52% |
| Fidelity Low-Priced Stock Fund | Oct 31, 2024 | 3,905,371 | 148.44M | 1.79% |
| Vanguard Small Cap Value Index Fund | Sep 30, 2024 | 3,716,241 | 141.25M | 1.70% |
| Capitol Ser Tr-Fuller & Thaler Behavioral Small Cap Equity Fd | Sep 30, 2024 | 3,435,146 | 130.57M | 1.58% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 3,279,243 | 124.64M | 1.50% |
| Vanguard Explorer Fund, Inc. | Oct 31, 2024 | 3,017,854 | 114.71M | 1.38% |
| JP Morgan Trust I-JPMorgan U.S. Value Fund | Sep 30, 2024 | 2,517,515 | 95.69M | 1.15% |
Article
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Axalta Coating Systems Ltd. (AXTA) Q4 2024 Earnings Call Transcript
Axalta Coating Systems Ltd. (NYSE:AXTA ) Q4 2024 Earnings Conference Call February 4, 2025 8:00 AM ET Company Participants Chris Villavarayan - Chief Executive Officer, President Carl Anderson - Chief Financial Officer Colleen Lubic - Vice President of Investor Relations Conference Call Participants Mike Leithead - Barclays Chris Parkinson - Wolf Research John McNulty - BMO Capital Markets Mike Sison - Wells Fargo Vincent Andrews - Morgan Stanley John Roberts - Mizuho Duffy Fischer - Goldman Sachs Ghansham Panjabi - Baird Aleksey Yefremov - KeyBanc Capital Markets Mike Harrison - Seaport Research Partners Jeff Ziolkowski - JP Morgan Rock Hoffman - Bank of America Operator Ladies and gentlemen, thank you for standing by.
Feb 4, 2025
