Axalta Coating Systems: Q2 Earnings Snapshot

GLEN MILLS, Pa. (AP) _ Axalta Coating Systems Ltd. (AXTA) on Tuesday reported second-quarter earnings of $44.1 million.

The Glen Mills, Pennsylvania-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, were 41 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The high-performance coating system maker posted revenue of $1.23 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.25 billion.

For the current quarter ending in October, Axalta Coating Systems expects its per-share earnings to range from 37 cents to 45 cents.

Axalta Coating Systems shares have fallen 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.67, a decrease of 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXTA at https://www.zacks.com/ap/AXTA