TINT - Why Specialty Chemical Company Axalta Coating Shares Are Seeing Blue Skies Today | Benzinga
Axalta Coating Systems Ltd. (NYSE:AXTA) shares are trading higher after the company reported better-than-expected first-quarter results and raised guidance.
Revenue rose 0.8% Y/Y to $1.3 billion, which was in line with the consensus.
The company witnessed growth within the company’s end-markets, which was led by a 4% Y/Y improvement in both Refinish and Light Vehicle, offset partially by a decline in net sales in Industrial and Commercial Vehicle.
By segment, revenue from the Performance Coatings segment remained flat Y/Y at $848 million, and Mobility Coatings rose 2% Y/Y to $446 million in the quarter.
Adjusted EBITDA increased to ...