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Axalta Coating Systems: 4Q Earnings Snapshot

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PHILADELPHIA (AP) _ Axalta Coating Systems Ltd. (AXTA) on Wednesday reported fourth-quarter profit of $69.7 million.

The Philadelphia-based company said it had net income of 30 cents per share. Earnings, adjusted for non-recurring costs and to extinguish debt, were 58 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The high-performance coating system maker posted revenue of $1.07 billion in the period.

For the year, the company reported profit of $121.6 million, or 52 cents per share. Revenue was reported as $3.74 billion.

For the current quarter ending in April, Axalta Coating Systems expects its per-share earnings to range from 40 cents to 45 cents.

Axalta Coating Systems shares have fallen slightly more than 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.03, a decline of slightly more than 9% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTA at https://www.zacks.com/ap/AXTA