Axalta Coating Systems Ltd. - AXTA STOCK NEWS

Axalta Coating Systems (NYSE: AXTA) has achieved notable recognition at the 2023 Edison Awards, winning Gold for its Abcite® 2060 Flame Spray Powder Coating in the Sustainability category and the Self-Priming Kitchen Cabinet Coating in the Material Science category. Additionally, Axalta's AquaEC® Flex received a Bronze award for Smart Transportation. These awards reflect Axalta's dedication to sustainable innovation, with Abcite® 2060 eliminating VOC emissions and streamlining coating processes for customers. The Edison Awards, established in 1987, honor the most innovative products and services. Axalta, a leader in the coatings industry, continues to focus on providing sustainable solutions globally.

Axalta Coating Systems (NYSE: AXTA) will announce its first-quarter 2023 financial results on May 2, 2023. The release will be accessible on the company's investor relations website, with a conference call scheduled for May 3 at 8 a.m. ET, featuring CEO Chris Villavarayan and CFO Sean Lannon discussing the performance. Interested parties can join via a dial-in number or webcast, with a replay available after the call until May 10, 2023. Axalta, a leader in coatings for various industries, aims to deliver innovative and sustainable solutions to over 100,000 customers worldwide.

Axalta Coating Systems (NYSE: AXTA) has announced its support for the John P. McNulty Program for Leadership in Science and Mathematics at Saint Joseph’s University. This investment aims to inspire young women to pursue leadership roles in STEM fields. The funding will specifically focus on scholarships for one year. Axalta’s Bright Futures program, established in 2021, also supports students in related disciplines. The company emphasizes its commitment to corporate social responsibility, particularly in STEM education, benefitting both local communities and future innovators.

Axalta Coating Systems has announced the elevation of Dr. Mike Grady and Dr. Jeff Johnson to Axalta Fellow, the highest honor within its Technology function. This recognition highlights their significant contributions to scientific advancements and commercial success at Axalta. Dr. Grady has over 40 years of experience in reaction engineering and resin processes, while Dr. Johnson brings 30 years of expertise in resin synthesis, holding 89 patents. The company continues to leverage its global team of approximately 1,300 scientists to innovate smarter surface solutions.

Axalta Coating Systems launched its latest ICONICA collection of Alesta® SD powder coatings in the U.S. on March 14, 2023. This collection focuses on exceptional performance, aesthetics, and sustainability, featuring a super-durable polyester resin system. The new palette includes 40 finishes and 14 new colors, developed to address evolving market demands. ICONICA aligns with international standards and offers a warranty of up to 25 years. Additionally, the coatings are solvent- and VOC emissions-free, supporting environmental initiatives like LEED credits. The collection reflects modern design themes influenced by recent global events.

Axalta Coating Systems reported strong Q4 2022 results, exceeding guidance with an 8.7% increase in net sales year-over-year, amounting to $1,236.7 million. Growth was fueled by a 2.4% rise in volumes and an 11.7% increase in price-mix. Income from operations rose 15.9% to $109.8 million, while adjusted EBIT grew 21.7% to $147.2 million. However, diluted EPS fell to $0.20 from $0.23 in the previous year. The company faced $70 million in headwinds from foreign currency fluctuations and global conflicts. Axalta's CEO emphasized strong pricing momentum and a recovery in Mobility Coatings, which saw an impressive 25.5% sales increase.

Axalta Coating Systems (NYSE: AXTA) will release its fourth-quarter and full-year 2022 financial results on January 25, 2023, after market close. A conference call will be held on January 26 at 9:00 a.m. ET with CEO Chris Villavarayan and CFO Sean Lannon to discuss the financial performance. Investors can access the call via dial-in or a live webcast, with a replay available afterward. As a global leader in coatings, Axalta serves customers in over 140 countries, focusing on innovative and sustainable solutions.