Axalta Coating Systems: Q1 Earnings Snapshot
GLEN MILLS, Pa. (AP) _ Axalta Coating Systems Ltd. (AXTA) on Monday reported first-quarter earnings of $41.5 million.
On a per-share basis, the Glen Mills, Pennsylvania-based company said it had net income of 18 cents. Earnings, adjusted for non-recurring costs, were 31 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The high-performance coating system maker posted revenue of $1.17 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.13 billion.
For the current quarter ending in July, Axalta Coating Systems expects its per-share earnings to range from 35 cents to 45 cents.
Axalta Coating Systems shares have fallen 24% since the beginning of the year. In the final minutes of trading on Monday, shares hit $25.12, a fall of 23% in the last 12 months.