Axalta Coating Systems Ltd. - AXTA STOCK NEWS

Axalta Coating Systems reported strong first-quarter results for 2022, with net sales up 10.4% year-over-year to $1,174.1 million, supported by robust pricing gains across all markets. Income from operations reached $86.3 million, a significant increase from $52.6 million in Q1 2021. Adjusted EBIT fell to $119.5 million from $182.8 million, influenced by cost inflation. Notably, share repurchases totaled $175.1 million, indicating a commitment to shareholder value. Despite challenges from supply chain disruptions and rising costs, Axalta maintains a positive outlook for future growth.

Axalta (NYSE: AXTA) will announce its Q1 2022 financial results post-market on April 25, 2022. Following the release, a conference call is scheduled for April 26 at 8 a.m. ET, where CEO Robert W. Bryant and CFO Sean Lannon will discuss the company's performance. Interested parties can join via telephone or watch the live webcast. The investor materials will be accessible on Axalta's Investor Relations page. The call will also have a replay available until May 3, 2022.

On March 24, 2022, Axalta (NYSE: AXTA) and the Philadelphia Eagles recognized nine exceptional teachers from the Philadelphia area for their innovative STEM teaching. Sarah Fryling from Smithville Elementary School was named the 2021 Axalta All-Pro Teacher of the Year. Each honoree received support for STEM education, Eagles game tickets, and personalized gear. Axalta's CEO, Robert Bryant, emphasized the importance of teachers in inspiring future scientists and engineers, noting the program's commitment to enhancing education in the region.

Axalta Coating Systems (NYSE: AXTA) has appointed Christopher Evans as the new VP of Investor Relations, effective immediately. Reporting to Sean Lannon, SVP and CFO, Evans aims to enhance shareholder communication and investor engagement. Evans brings extensive experience from his previous roles at Ecovyst and Chemours, alongside a solid foundation in the chemical industry as a former analyst at Goldman Sachs. He succeeds Christopher Mecray, who recently left for a new opportunity. Sean Lannon commended Mecray for his significant contributions since Axalta's public offering in 2014.

Axalta (NYSE: AXTA) was honored as a 2021 Supplier of the Year in the paint category by General Motors during its 30th annual awards ceremony held in Phoenix, Arizona. The award recognizes suppliers who exceed GM's requirements, promoting innovative technologies and high quality in the automotive sector. Axalta has been a paint supplier to GM for over 100 years, and this recognition emphasizes its resilience during the challenging supply chain issues exacerbated by the pandemic. GM acknowledged 134 suppliers globally this year, highlighting commitment to sustainability and innovation.

Axalta Coating Systems (NYSE: AXTA) reported its Q4 and full-year 2021 financial results, highlighting a 5.8% increase in net sales to $1,137.2 million for Q4, driven by Performance Coatings despite ongoing supply chain issues in Mobility Coatings. Income from operations fell to $94.7 million from $163.2 million year-over-year, impacted by cost inflation and lower Mobility volumes. Full-year net sales rose 18.2% to $4,416.2 million, with a diluted EPS of $1.14. Axalta aims to address inflation impacts and expects continued demand growth across its business lines in 2022, alongside significant sustainability commitments.

Axalta Coating Systems (NYSE: AXTA) has appointed Dr. Keith Silverman as the new Senior Vice President & Chief Operations and Supply Chain Officer, effective immediately. Dr. Silverman brings extensive experience from roles in operational leadership at Ashland Global Holdings and Merck & Co. He holds a PhD in Environmental Science and Chemistry and is recognized for his commitment to safety and sustainability in operations. Axalta aims to leverage his expertise to enhance operational efficiency and customer satisfaction in its global coatings business.