Axalta Coating Systems: 4Q Earnings Snapshot
PHILADELPHIA (AP) _ Axalta Coating Systems Ltd. (AXTA) on Wednesday reported fourth-quarter net income of $75.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Philadelphia-based company said it had profit of 32 cents. Earnings, adjusted for one-time gains and costs, were 34 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The high-performance coating system maker posted revenue of $1.17 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.18 billion.
For the year, the company reported profit of $207.1 million, or 85 cents per share. Revenue was reported as $4.7 billion.
Axalta Coating Systems expects full-year earnings in the range of $1.30 to $1.50 per share.
Axalta Coating Systems shares have climbed 9 percent since the beginning of the year. The stock has fallen 19 percent in the last 12 months.