Axalta Coating Systems Ltd. - AXTA STOCK NEWS

Axalta (NYSE: AXTA) has launched the Imron Industrial 2100 HG-C high-gloss clearcoat in North America, enhancing its existing Imron Industrial portfolio. This new product features a 2.1 VOC formulation, designed for quick melting and smooth flow, facilitating easy repairs. It offers exceptional color and gloss retention, aligning with increasing customer standards for appearance. The Imron product line, known for high-performance polyurethane coatings, has been a leader for nearly 50 years, providing a complete coating system for demanding industrial applications.

Axalta (NYSE: AXTA) will host a virtual Capital Markets Day on May 5, 2021, from 8:30 am to 12:30 pm ET. CEO Robert Bryant and the leadership team will outline the company's growth strategy and financial outlook, followed by a Q&A session. Presentations will be available at axalta.com/investors on the event day, with a recording accessible afterwards. Participants must pre-register here. For inquiries, contact investor relations at Christopher.mecray@axalta.com.

Axalta (NYSE: AXTA) has announced its agreement to acquire Anhui Shengran Insulating Materials, a Chinese manufacturer of wire enamels for consumer electronics and electric vehicles. This acquisition, expected to close in Q2 2021, will enhance Axalta's Energy Solutions portfolio, providing new products and increasing its production capacity in growing Asian markets. The move aims to strengthen customer support in China and leverage synergies in research and development. Financial details of the transaction remain undisclosed.

Axalta (NYSE: AXTA) has launched the Wood Coatings Pro mobile app, available for iOS and Android, offering customers quick access to product information, industry color trends, and best practices in wood coatings. The app includes sections for product catalog, color trends, e-learning, and distributor locator, enabling detailed searches based on various criteria. This digital platform aims to enhance user experience and showcase Axalta's innovative capabilities in the industrial wood coatings market. The app is free to download from the Apple App Store and Google Play Store.

Axalta Coating Systems reported its Q4 2020 financial results, with net sales of $1,074.5 million, down 2.2% year-over-year. However, income from operations rose to $163.2 million, up from $108.7 million in Q4 2019. Adjusted diluted EPS increased 38.1% to $0.58, while total cash flow from operations reached $278.4 million. For the full year, net sales dropped 16.6% to $3,737.6 million with net income of $121.6 million. Despite pandemic challenges, Axalta recorded robust cost savings and a strong cash flow performance, setting the stage for improved 2021 outlook.

Axalta (NYSE: AXTA) will announce its fourth-quarter and full-year 2020 financial results after market close on February 17, 2021. The subsequent conference call on February 18, 2021, at 8 a.m. EST will be led by CEO Robert W. Bryant and CFO Sean Lannon, discussing the company's financial performance. Investors can access a live webcast of the call online. A replay will be available until February 25, 2021. Axalta specializes in innovative coatings solutions, serving over 100,000 customers across 130 countries, enhancing durability and productivity with its products.

Axalta (NYSE: AXTA) has unveiled its new solventborne basecoat, Cromax XP, showcased on the No. 24 Chevrolet Camaro ZL1 1LE at Daytona International Speedway. Displayed from January 29, 2021, as part of the Axalta Injector Sponsorship, the showcar features a unique paint scheme combining Cromax XP with Axalta's 2021 Color of the Year, ElectroLight. Cromax XP offers superior coverage, color matching, and versatile application methods, enhancing customer options alongside the existing Cromax EZ waterborne basecoat.

Axalta (NYSE: AXTA) has launched Cromax XP, a new solventborne basecoat for refinish customers in North America. This product offers exceptional coverage and color matching, requiring only 2-3 coats for most colors. Cromax XP is supported by a fan deck of over 6,000 color chips and integrates with Axalta's ColorNet system for a streamlined user experience. Designed for ease of application and high-quality finish, it accommodates various blending processes and is available in multiple packaging options. For more details, visit axalta.us/xp.

Axalta Coating Systems Ltd. (NYSE: AXTA) announced a delay in releasing its 2020 fourth quarter and full-year earnings, originally set for February 3-4, due to pending financial statements linked to an operational issue. Preliminary Q4 2020 net sales were $1,074.5 million, down 2.2% year-over-year but up 4.6% sequentially. Cash and cash equivalents as of December 31, 2020, stood at $1,360.9 million, with a net debt of $2.5 billion. Significant liquidity of $1.7 billion was noted, reflecting a gross debt repayment of $200 million in November 2020.