Axalta Coating Systems (AXTA) Reports Q2 Earnings: What Key Metrics Have to Say
Axalta Coating Systems (AXTA) reported $1.29 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.8%. EPS of $0.35 for the same period compares to $0.41 a year ago.
The reported revenue represents a surprise of -3.46% over the Zacks Consensus Estimate of $1.34 billion. With the consensus EPS estimate being $0.39, the EPS surprise was -10.26%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Axalta Coating Systems performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Performance Coatings- Refinish: $520.70 million versus $523.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6% change.
Sales- Performance Coatings- Industrial: $335.30 million versus $360.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -8.1% change.
Sales- Mobility Coatings- Total: $437.90 million compared to the $452.74 million average estimate based on three analysts. The reported number represents a change of +15.5% year over year.
Sales- Mobility Coatings- Commercial vehicle: $107.70 million versus $109.47 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12% change.
Sales- Performance Coatings- Total: $856 million compared to the $883.22 million average estimate based on three analysts. The reported number represents a change of 0% year over year.
Sales- Mobility Coatings- Light vehicle: $330.20 million compared to the $343.31 million average estimate based on three analysts. The reported number represents a change of +16.7% year over year.
Adjusted EBIT- Mobility Coatings: $23.70 million versus the two-analyst average estimate of $59.79 million.
Adjusted EBIT- Performance Coatings: $117.80 million versus the two-analyst average estimate of $176.66 million.
View all Key Company Metrics for Axalta Coating Systems here>>>
Shares of Axalta Coating Systems have returned -2.5% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
