Axalta Coating Systems Ltd. - AXTA STOCK NEWS

Axalta, a top supplier of coatings, announced that its Radar Transmission Simulator (ARTS) with Color Palette Optimizer for Autonomous Vehicles won a 2022 BIG Innovation Award. This recognition highlights Axalta's commitment to innovation in coating formulations that enhance radar compatibility without sacrificing aesthetics, crucial for advanced driver assistance systems. The award signifies a milestone in Axalta's technology development journey, reinforcing its position in the coatings industry.

Axalta Coating Systems (NYSE: AXTA) has announced its Global Automotive Color of the Year 2022, named Royal Magenta. This deep cherry color features a luxurious finish with berry red highlights, optimized for all vehicle types and enhancing the mobility palette. The color incorporates innovative, environmentally-friendly technologies, aligning with trends towards sustainability and electric vehicle design. Axalta aims to lead future color trends with advanced formulations and insights into global preferences.

Axalta Coating Systems Ltd. (NYSE:AXTA) released preliminary financial updates for Q4 and FY 2021, revealing a 5.8% sales growth in Q4 and an 18.2% increase for FY 2021. However, raw material inflation exceeded expectations at 24%, impacting overall profit margins. Adjusted EBIT for Q4 is projected at $120-125 million, with FY 2021 expected to fall approximately $30 million below prior forecasts of $645-665 million. Despite challenges, Axalta anticipates recovery in 2022 driven by strong demand, though inflationary pressures remain a concern.

Axalta (NYSE: AXTA) has released its 69th annual Global Automotive Color Popularity Report, revealing that white remains the most popular vehicle color at 35%, followed by black and gray at 19% each. Notably, gray's popularity increased by 4 percentage points globally. The report highlights a decline in white vehicles, down 3% from previous years, particularly influenced by a significant 7% drop in China. The automotive market faced challenges in 2021 due to semiconductor chip shortages affecting vehicle production, impacting consumer preferences for colors.

Axalta announced the launch of Imron® Industrial Ultra 2.8 VOC Topcoat aimed at the agriculture, construction, and earthmoving equipment sectors. This enhanced urethane topcoat features low VOC emissions and quicker curing times compared to conventional products. It can be applied over epoxy and urethane undercoats and offers double the pot life, reducing material waste. The product also meets stringent industry weathering and performance standards, indicating Axalta's commitment to innovation and durability in coating solutions.

Axalta (NYSE: AXTA) has been awarded the 2021 Global Commercial Vehicle Coatings Company of the Year by Frost & Sullivan. This accolade recognizes Axalta's innovative coatings that meet the evolving needs of OEMs for lighter-weight vehicles. Key products highlighted include the Imron® and Rival® coatings, which streamline application processes and enhance productivity. These solutions reduce material use by up to 30% and align with stringent environmental standards in Europe. The award emphasizes Axalta's commitment to customer focus and technological advancement.

Axalta Coating Systems (NYSE:AXTA) reported its Q3 2021 financial results, showing a 6.0% increase in net sales year-over-year, totaling $1,088.6 million. Performance Coatings led the growth with 14.1% sales rise, but the Light Vehicle segment faced a 14.8% decline due to supply chain issues. Income from operations fell to $124.7 million from $141.7 million in Q3 2020, with diluted EPS down to $0.30. The company completed $90.1 million in share repurchases and closed the acquisition of U-POL, which is expected to support future growth.