Axalta Coating Systems Ltd (AXTA) said after close Tuesday that it earned $0.41 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $1.2 billion, missing estimates by $15 million.
In the same quarter a year ago, the company earned $0.48 per share on revenue of $1.1 billion.
The stock is down 4.99% to $24.39 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Axalta Coating Systems Ltd a Bullish Sentiment Rank from InvestorsObserver.
Axalta Coating Systems Ltd has performed a little above average during the past few months. Before the report, Axalta Coating Systems Ltd received a Long-Term Technical Rank by InvestorsObserver of 68, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $21.44 on July 5, 2022 and set a 52-week high on January 5, 2022 at $34.12.
Axalta Coating Systems Ltd manufactures, markets and distributes performance coating and transportation coating systems. It operates in two segments. The Performance Coatings segment, which is the key revenue driver, provides liquid and powder coatings solutions to a fragmented and local customer base. Its end-markets include refinish and industrial. The Transportation Coatings segment relates to the provision of coating technologies to original equipment manufacturers of light and commercial vehicles. The company operates in the geographic areas of North America, EMEA countries, Asia-Pacific and Latin America.
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Axalta Coating Systems Ltd Down 4.99% To $24.39 After Earnings Beat
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